Powerful and flexible billing and revenue recognition software
Prior to Ordway, my company was using multiple billing systems for different products. It was very difficult to get a consolidated view of our customer's billing information. We are now on one system so that A/R can be tracked accurately, and all of our invoices have the same look and feel regardless of the products that the customer is buying.
Ordway is highly configurable and flexible, which allows me to tailor the workflow and my customers' billing experiences rather than rely on a pre-configured process.
Like any relatively new product, there are additional features that would be nice to have. The Ordway team has developed many new features since I began using the product, but there are still more things that I would like added over time. The team has been very responsive to my new feature requests and has either implemented the requested features or provided acceptable workarounds.
Flexible billing system that can handle complex pricing structures
Ordway allows us to set up customers as they sign contracts, then dynamically bill them based on various usage factors as well as other factors. We can be confident that our customized invoices are accurate, and we can use the UI to quickly identify and fix any issues or changes as they happen.
Dynamic pricing tiers:
Our business model includes charges based on number of employees and assets under management, which changes often as businesses scale up. Keeping our systems in sync with our billing operations is now not an issue.
Volume of invoicing:
With the amount of growth and volume we are doing, it would require an army of people to keep up if we were doing this manually
Speed of implementation:
Their customer success team helped load historical data and get all of our contracts configured. Our business is growing quickly and we didn’t have tons of resources to dedicate to getting Ordway set up. We were pleasantly surprised that we were able to stand up the system and go live in a matter of weeks as opposed to months.
Initial reporting functionality:
Some of the reporting dashboards and functionality were not initially well-suited to our business model, although I think would be fine for a regular "SaaS" business. However the functionality has improved over time and we are able to export any/all of our data for additional analysis.
Integration with accounting systems:
We initially did not have a direct integration to our accounting system, but the ability to upload CSV files make it easy to regularly keep both systems in sync. I believe full integration capability is planned for this year (2019).
Solution to our billing woes
We have a usage-based billing structure which we really struggled with in Zuora due to how it was configured. Ordway were attentive to where we were struggling and proposed a setup that provides exactly what we need. Our invoice timing has dropped from the 3rd week of the month to the first already and we are still to integrate Salesforce and our usage data. The UI is intuitive and easy to learn.
Some of the reporting is still being built out, however, they have a flexible custom reporting module that provides much of what I need and they have added multiple reports we use to their near-term reporting roadmap.
Ordway simplified our billing
We've had an excellent experience, from its implementation with a dedicated, focused and client-centric team, through to day-to-day use, simplification and automation of our processes.
- Handles multiple levels of complexity, addressing our different billing scenarios.
- Flexible, allowing integration into other applications and our workflows.
- Automation of several processes and continued growing potential for further improvements.
- Attention, dedication and responsiveness of the Ordway team.
- Flexibility adds the possibility of complexity, and you need to mindful of that when implementing.
Amazing Billing Platform
Our home-grown billing system was built for an initial, more-simple use case and turned out to be inadequate for us as our use cases got complex. Ordway’s API let us automate this and they are maintaining the billing code base in a way we never could without hiring lots of engineers. Their documentation and support are great, so anytime we update our provisioning code, it’s easy to maintain the connection.
Nothing comes to mind really. If anything, there was very good support when it came to handling all the nuances of our billing scenarios
Using Ordway billing with Stripe saved us time and money
Overall, the team has been great to work with. When we were first onboarding with them, we uncovered some accounts that were not getting invoiced correctly. As a result, we were able to recover lost revenue early on and basically realize immediate ROI.
We use Stripe for processing payments, and the native integration with Ordway meant we effectively automated a part of our business frankly we didn’t want to build ourselves. We’re a SaaS company and we’ve identified best-in-breed SaaS partners to handle our non-core business functions. Ordway and Stripe represent a good example of that.
It's doing what it needs to do from my perspective. My team has mentioned that since they don't have to be in the system that often, remembering how to do things is sometime an issue. Their support team is always accessible and willing to help.
A Very Flexible Billing Platform!
As a Saas business, we have numerous types of billing plan structures and a "one size fits all" billing/revenue automation platform would never have been able to meet our various needs. The Ordway team was able to customize their billing system to accommodate all of our different scenarios and provide added value to our customers by displaying more detailed info on monthly billing invoices. By automating our complex billing process, I was freed up to spend time on more data-driven strategic initiatives.
As an early adopter of the platform, subscription analytics and dashboard metrics were not built out for easy reporting and cohort analysis.
Very happy with switch to Ordway
I was struggling to get the accounting treatments right for our complex business. We have recurring subscription fees, installation fees, usage charges and professional services which we were charging on multiple different platforms depending on the customers negotiated terms. Ordway allows us to manipulate individual charges and contracts and applies revenue recognition templates to the various charges so all customer data lives in one place. What took me hours to reconcile is now happening automatically in the background so I can focus on more strategic activities.
We came from Recurly which had a very clean and intuitive UI so it took some getting used to Ordway's platform, but they are open to any and all feedback and we have already seen updates!
Invoicing in arrears based on monthly orders billed to corporate client
Our business fulfilled a catalog of corporate wellness programs. The orders would accumulate during the month and then we’d have to go back and compile everything to send out invoices. With Ordway, all that happens automatically as orders are placed and we can send an invoice out for the past months activity. It really saved us time.
Nothing, it was a lifesaver. They've been really responsive to feedback.
Great Billing/Revenue Software and Awesome Customer Service
We’re great at finding people with the right skills for our clients. Having our tech team building a billing system for our SaaS recruiting platform would have been a huge cost and distraction. The cost of Ordway was much, much less than doing it internally and/or hiring someone new to maintain back-office infrastructure.
The Ordway team is awesome. Their platform helped us not have to worry about invoicing and revenue recognition now, or in the future when we raise capital or audit our finances.
So far everything has worked well - when we find something small that we want, the team has added it to their development list and been hands-on to show us a work around until it's ready.