Ordway Review
What is Ordway?
Ordway is an adaptive billing and revenue automation platform built to help businesses save time as they perform product pricing, billing, payment collection, and revenue recognition. Ordway simplifies billing processes by allowing users to easily handle different types of contracts, subscription models, and pricing plans, capturing and consolidating all the information and details they need in a single system.
With Ordway, users can quickly generate and send error-free invoices in just a matter of minutes. The platform streamlines the process of collecting payments from customers, as it supports integration with major payment gateways and processors which include Stripe and Authorize.net. The issuance of credits and refunds is simplified as well.
The billing and revenue platform is built with a financial module that enables users to efficiently execute essential accounting functions. This module lets them generate monthly recurring revenue reports, set methods and rules for revenue recognition, and create, edit, and export journal entries.
Last but not least, Ordway comes with reporting features, permitting users to gain insights into their company’s financial health. Key metrics are displayed on a dashboard such as the total number of invoices they sent and received and MRR, customer, and contract growth.
Show MoreOverview of Ordway Benefits
Handles Complex Billing
Ordway is designed to support and handle different billing scenarios, even those complicated ones. It captures important pieces of information about various contracts, transactions, subscriptions, and billing plans through RESTful API, consolidates them in a single system, and automatically generates accurate invoices based on the information it captured.
Revenue Recognition
The billing and revenue automation platform make the process of recognizing revenue efficient. Ordway can be configured to adapt to one’s revenue recognition process. Users are given the ability to form schedules, methods, and rules when it comes to recognizing revenue. In addition, Ordway provides audit logs that let them track any changes applied to the revenue recognition configurations they set.
Improved Payment Collection
Ordway comes with features that improve payment collection. One of which is the ability to send out notifications to customers who haven’t yet paid their invoices. The platform also supports processing ACH, credit card, and check payments.
Enterprise System Integrations
Users can integrate Ordway with their existing ERP, accounting, and CRM systems. For example, through Salesforce and QuickBooks integrations, Ordway can instantly collect information about deals that were closed in Salesforce. Users, then, are able to create contracts, send invoices, and update journal entries within Ordway. After that, they can export their journal entries to QuickBooks.
Reporting Features
With Ordway’s reporting features, users will be able to gain data-driven insights into their company’s financial health. They get the opportunity to view revenue, invoice, and growth metrics from customizable dashboards. They can also generate easy-to-read reports that they can confidently present to investors, business partners, and other stakeholders.
Show MoreOverview of Ordway Features
- Supports Different Billing Scenarios
- Payment Gateway Integrations
- Payment Reminders
- Individual & Batch Invoicing
- Revenue Recognition Schedules & Rules
- Simplified Accounting Functions
- Audit Logs
- Customizable Dashboards & Reports
- Integrations
What Problems Will Ordway Solve?
Problem #1: Sale To Revenue Automation
Orderly automates the process of converting sales to revenues. When the sales team closes deals and activate new customers, the finance team can instantly create invoices based on the terms of contracts and details of plans. These invoices are automatically applied to future contract renewals.
Problem #2: Accurate Revenue Recognition
Ordway makes revenue recognition accurate by enabling users to define their own revenue recognition schedules, methods, and rules for various contracts and subscriptions. All of these are captured and recorded in templates.
Problem #3: Enhancing Customer Care
The billing and revenue automation platform make it easy for users to respond to issues and disputes raised by their customers. This is because all the transaction information they need are accessible from a single system. So, if a customer has a concern about a particular invoice he or she received, they will be able to address it immediately, thereby enhancing customer care.
Awards & Quality Certificates
Ordway Position In Our Categories
Because companies have special business-related demands, it is rational that they steer clear of going for an all-in-one, “perfect” solution. Needless to say, it would be difficult to try to come across such a software system even among well-known software solutions. The clever thing to do can be to note down the different main functions that demand careful thought such as critical features, costing, skill competence of staff, organizational size, etc. Thereafter, you must double down on the research through and through. Go over some Ordway evaluations and look over each of the software options in your list more closely. Such detailed product research guarantees you take out mismatched applications and pay for the system that meets all the function your company requires.
Position of Ordway in our main categories:
Companies have unique needs and requirements and no software solution can be ideal in such a situation. It is useless to try to find a perfect off-the-shelf software app that meets all your business requirements. The smart thing to do would be to customize the system for your unique wants, employee skill levels, budget, and other elements. For these reasons, do not hasten and pay for well-publicized popular applications. Though these may be widely used, they may not be the perfect fit for your particular requirements. Do your groundwork, investigate each short-listed application in detail, read a few Ordway Billing and Invoicing Software reviews, call the seller for explanations, and finally choose the product that offers what you need.
How Much Does Ordway Cost?
Ordway Pricing Plans:
Free Trial
Quote-based Plan
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What are Ordway pricing details?
Ordway Pricing Plans:
Free Trial
Quote-based Plan
Contact vendor
Ordway’s pricing information is available only via quote request. Contact the vendor to get all the pricing details you need.
User Satisfaction
Positive Social Media Mentions
27
Negative Social Media Mentions
0
We realize that when you decide to purchase a Billing and Invoicing Software it’s important not only to see how experts evaluate it in their reviews, but also to find out whether the actual people and businesses that use it are indeed content with the product. That’s why we’ve designer our behavior-based Customer Satisfaction Algorithm™ that collects customer reviews, comments and Ordway reviews across a wide array of social media sites. The data is then featured in a simple to understand format indicating how many customers had positive and negative experience with Ordway. With that information at your disposal you should be equipped to make an informed purchasing choice that you won’t regret.
Technical details
Devices Supported
- Web-based
Deployment
- Cloud Hosted
- Open API
Language Support
- English
Pricing Model
- Quote-based
Customer Types
- Medium Business
What Support Does This Vendor Offer?
- phone
- live support
- training
- tickets
What integrations are available for Ordway?
Ordway integrates with the following payment gateways and enterprise systems:
- Stripe
- Authorize.Net
- Salesforce
- QuickBooks
- Avalara
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