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 their own business-related wants, it is only logical they avoid picking an all-in-one, “perfect” software system. Regardless, it is nearly futile to try to find such a software system even among popular software products. The correct thing to do would be to list the several critical aspects that call for a analysis including important features, budget, skill levels of staff members, business size, etc. Thereafter, you must conduct your product research exhaustively. Have a look at some of these Ordway evaluations and check out each of the applications in your list more closely. Such comprehensive product research guarantee you take out mismatched applications and select the one which provides all the tools your company requires to realize efficiency.
Position of Ordway in our main categories:
Each organization has different requirements and needs an application that can be customized for their size, kind of staff members and clients, and the particular industry they are in. For these reasons, no system can offer perfect features off-the-shelf. When you search a software system, first be sure what you need it for. Read some Ordway Billing and Invoicing Software reviews and ask yourself do you need basic features or do you want sophisticated functionality? Are there any industry-specific functionalities that you are seeking? Get the answers to these queries to aid your search. There are lots of aspects that you need to mull over and these include your finances, particular business needs, your company size, integration needs etc. Take your time, use a few free trials, and finally zero in on the app that offers all that you require to enhance your organization efficiency and productivity.
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 choose to purchase a Billing and Invoicing Software it’s crucial not only to learn how professionals rank it in their reviews, but also to find out whether the real users and businesses that use these solutions are genuinely satisfied with the service. That’s why we’ve devised our behavior-based Customer Satisfaction Algorithm™ that aggregates customer reviews, comments and Ordway reviews across a wide array of social media sites. The information is then presented in an easy to digest format showing how many people had positive and negative experience with Ordway. With that information available you should be ready to make an informed buying decision 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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