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
Since businesses have distinct business needs, it is logical they steer clear of deciding on a one-size-fits-all, ”best” system. Nevertheless, it is hard to try to stumble on such a software product even among branded software products. The clever thing to do is to spell out the several major factors that require scrutiny such as critical features, budget, technical skill aptitude of staff members, organizational size, etc. Thereafter, you should double down on the product research fully. Go over some Ordway evaluations and look over the other applications in your list in detail. Such detailed research ascertains you avoid unfit apps and subscribe to the system that delivers all the tools your business requires to realize efficiency.
Position of Ordway in our main categories:
Each enterprise is different, and can require a special Billing and Invoicing Software solution that will be fit for their company size, type of customers and employees and even particular industry they deal with. We advise you don't count on getting a perfect app that will be suitable for every company regardless of their history is. It may be a good idea to read a few Ordway Billing and Invoicing Software reviews first and even then you should remember what the software is intended to do for your business and your staff. Do you require an easy and straightforward service with just basic functions? Will you actually make use of the advanced functionalities needed by pros and large enterprises? Are there any specific tools that are especially useful for the industry you work in? If you ask yourself these questions it is going to be much easier to locate a solid solution that will fit your budget.
How Much Does Ordway Cost?
Ordway Pricing Plans:
Free Trial
Quote-based Plan
Contact vendor
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 buy a Billing and Invoicing Software it’s vital not only to learn how experts evaluate it in their reviews, but also to discover if the actual clients and businesses that purchased these solutions are indeed happy with the product. Because of that need we’ve devised our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Ordway reviews across a vast array of social media sites. The data is then displayed in an easy to digest way revealing how many people had positive and negative experience with Ordway. With that information at hand you will be prepared 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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