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Ordway Review

Ordway
Our score: 8.0 User satisfaction: 100%

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.  

Overview 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. 

Overview 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

An award given to products that have recently entered the market but are already becoming very popular
This certificate is granted to products that offer especially good user experience. We evaluate how easy it is to start using the product and how well-designed its interface and features are to facilitate the work process.

Ordway Position In Our Categories

Because businesses have distinctive business-related requirements, it is only wise they steer clear of purchasing an all-encompassing, ideal software system. Just the same, it is troublesome to try to stumble on such an app even among well-known software products. The reasonable thing to undertake can be to jot down the numerous significant factors which call for a research like crucial features, price plans, skill capability of the employees, organizational size, etc. After which, you should double down on the research to a full extent. Read some of these Ordway evaluations and check out each of the software solutions in your shortlist more closely. Such detailed research makes sure you weed out mismatched apps and select the system which delivers all the aspects your business requires to be successful.

Position of Ordway in our main categories:

Ordway is also listed in the following subcategories:

It is important to note that virtually no software in the Billing and Invoicing Software category will be a perfect solution able to fulfill all the requirements of all business types, sizes and industries. It may be a good idea to read a few Ordway Billing and Invoicing Software reviews first as certain software may excel exclusively in a very small group of applications or be created with a very specific industry in mind. Others may work with an idea of being easy and intuitive and consequently lack complicated features welcomed by more experienced users. There are also software that support a wide group of customers and give you a complex feature toolbox, however that usually comes at a higher cost of such a solution. Be certain that you're aware of your requirements so that you buy a service that offers all the features you search for.

How Much Does Ordway Cost?

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 make a decision to buy Billing and Invoicing Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Ordway reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with Ordway. With that information at hand you should be equipped 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?

  • email
  • phone
  • live support
  • training
  • tickets

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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.

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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Reviewed By Louie Andre
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