CompStak extends the life of QuickBooks with Ordway

Posted by Eren Koont on Mar 17, 2020 11:15:00 AM

We had the pleasure of visiting with CompStak just before the COVID-19 social distancing efforts took hold in both New York City where CompStak is headquartered, and Ordway HQ in Washington, D.C.

CompStak, a scaling startup with around 100 employees, is the leading crowdsourced platform for commercial real estate data. Growing quickly with a fairly complex business model, CompStak realized that they needed to replatform parts of their finance stack to keep up with their growth. During this transformation, they knew they wanted to stay on QuickBooks as their general ledger if they could. Their adoption of the Ordway billing and revenue automation platform meant they could continue to use QuickBooks and also “say yes” to complex Enterprise deals with unique pricing and terms.

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Topics: SaaS, operations, recurring revenue, scaling, subscription management

Announcing a $10M Series A. New heights reveal an even higher peak.

Posted by Sameer Gulati on Feb 19, 2020 8:15:00 AM

When we launched our billing and revenue automation platform to the world 18 months ago, I set high expectations for the founding team. Transforming the way sales and finance teams work together to modernize their business models is no small undertaking.

With customers around the world in industries including software development, healthcare, logistics, performance management, manufacturing, and finance, we’ve witnessed transformation first hand. Building on this foundation, today I’m excited to announce we’ve raised a $10M Series A led by CRV and joined by Clocktower Ventures, Lerer Hippeau, and Revolution’s Rise of the Rest Seed Fund.

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Topics: billing, SaaS, operations, recurring revenue, press release, scaling, revenue recognition

Billing bash celebrates rock star NYC companies

Posted by Eren Koont on Sep 16, 2019 11:44:00 AM

Leaders in the New York City tech scene gathered in the Flatiron District to celebrate efficiency gains brought about through billing and revenue automation and other process improvements.

One of the main goals of the evening was to build community between parts of organizations that don’t often have opportunities to share and learn best practices with other finance and accounting professionals.

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Topics: billing, SaaS, recurring revenue, DCTech, startup

Flexibility of billing software API leads to fast implementation for Dispatch

Posted by Eren Koont on Jul 30, 2019 3:34:00 PM

Dispatch is a last-mile delivery service that is rapidly scaling to dozens of markets around the United States. It helps get industrial service parts to the right people at the right time, and makes money by deeply understanding how far, how fast, and how many parts to be delivered.

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Topics: billing, recurring revenue, API, automation, startup, build vs buy

Billing bash celebrates two rock star DMV companies

Posted by Eren Koont on Jul 25, 2019 3:15:00 PM

Yesterday, while most of Washington DC was consumed with Robert Mueller hearings on Capitol Hill, innovative DMV tech companies gathered in Bethesda, Maryland to celebrate efficiency gains brought about through billing and revenue automation and other process improvements.

One of the main goals of the evening was to build community between parts of organizations that don’t often have opportunities to share and learn best practices with other finance and accounting professionals.

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Topics: billing, SaaS, recurring revenue, DCTech, startup

Strategies to reduce churn through automated and manual communication

Posted by Eren Koont on May 13, 2019 12:39:00 PM

Sameer recently presented a pre-conference workshop at the Recurring Revenue Conference which brought together over 700 attendees from around the world to talk about scaling businesses. One of the important factors in building a sustainable B2B or B2C business is managing and reducing churn (when a customer partially or completely falls off their journey with you).

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Topics: SaaS, operations, recurring revenue, metrics, culture, startup, build vs buy, performance economy, churn

Scaling a business requires build vs buy decisions - a 2x2 framework resource

Posted by Eren Koont on Apr 2, 2019 4:19:00 PM

As companies scale, especially in this SaaS-dominated economy, management teams will sooner or later be confronted with a build vs buy decision. All companies large or small, tend towards wanting to control everything they can. Compounding this natural inclination, if something is painful but “working,” they push making hard choices down the road. It's difficult to uncover what an organization is best suited to own fully, and what is worthy to hand off to external partners.

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Topics: billing, SaaS, recurring revenue, automation, careers, startup, build vs buy

Pain in the GAAP: Episode 5. Recovering Lost Revenue... Not as hard as the Lost Ark.

Posted by Eren Koont on Dec 6, 2018 9:42:00 AM

In the last episode, we covered everything you’d want to know about Monthly Recurring Revenue. In this episode, we dive into methods to identify and recover lost revenue. It’s not as hard as finding the Lost Ark in Indiana Jones and the Raiders of the Lost Ark, but as the viewer found out in the Last Crusade, one must choose their method “wisely.”

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Topics: billing, SaaS, recurring revenue, Podcast

MRR. The Purring Lion of SaaS Metrics

Posted by Eren Koont on Oct 31, 2018 10:40:00 AM

In this episode of Pain in the GAAP, we dive into MRR, or monthly recurring revenue — a metric critical to SaaS businesses that can be a little tricky if you deal with real customers and not just spreadsheets.

We talk about how MRR is a useful metric for businesses to understand their future prospects as well as provide a business’ board and investors information to determine valuations.

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Topics: billing, SaaS, operations, recurring revenue, Podcast, metrics

Ordway’s 38 Controls for Startups Is More Helpful than Eater’s 38 Places to Dine

Posted by Jason Yablinsky on Jul 2, 2018 11:22:00 AM

The first 24 months of a startup lay the foundation for its future success. Young companies redesign the wheel, disrupt an industry, or identify a way to plan an ICO to raise funds off cyrpto-tailwinds. These grand plans don’t need to be bogged down by also reinventing business operations and controls.

Prior to my time at Ordway, I built a checklist of controls, used with my companies, that I feel every startup needs to accomplish during their first two years of operation.

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Topics: billing, SaaS, operations, recurring revenue

 

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