Team and customers leads to "50 on Fire"

Eren Koont
by Eren Koont LinkedIn
Oct 22, 2018 1:36:00 PM

When we heard the news that Ordway was among the DC Inno 50 on Fire recipients, the team saw it as a validation that we are helping our customers automate painful back-office processes around billing customers and proper revenue recognition.

The main reason we’re on the list is the great team we've assembled to tackle really tough billing problems on behalf of our customers (we're hiring, so if you want to join an awesome crew, we'd love to hear from you). Our goal has always been to bring together a set of finance experts and top engineering talent to shape Ordway's modern billing platform. 

The combination of modern technology, coupled with decades of finance, accounting, and billing expertise mean we’re able save companies money, uncover lost revenue, and let them “manufacture time” they didn’t have before. We save our customers 100s of hours each month, and that newly discovered time means freedom to focus on scaling their business.

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50 on Fire wouldn't happen without billing rockstar customers

We wouldn’t be on the list without the true partnerships we’ve developed with our customers across many industries throughout the world in healthcare, technology, non-profit, restaurant, performance management, hospitality, and media industries. Two of our billing rockstar customers are:

ListReports

ListReports leverages the Ordway RESTful API to fully automate their billing process. They currently serve 3,000 contracts and over 10,000 users. The ListReports platform makes 1,000s of API calls per day to the Ordway platform.

Upon the activation of the billing and revenue automation platform, ListReports reduced the number of plans in Stripe from 2,000 to 10 in Ordway. Today contracts, with varying complexities, are billed automatically on different days throughout the month. To support their real estate marketing business, ListReports can add agents and lenders seamlessly, regardless of billing plan, tier, or contract duration.

Highlights of their implementation:

  • Reimagined the billing process that consolidated number of plans from 2,000 to 10
  • Invoices sent automatically when needed
  • Order management to add new customers, tiers, terms seamlessly

Klara

Klara fully automated their quote-to-revenue process with the Ordway platform. When a Klara sales person “close wins” a SalesForce opportunity, a contract and appropriate plan is created within the Ordway system and billing is automatically initiated. The Ordway platform integration with QuickBooks makes monthly journal entries a one-click experience for the Klara operations team.

Through this automation, Klara was able to identify accounts that had not been invoiced correctly, and as a result recovered lost revenue which resulted in immediate ROI for the Klara team. The Klara customer success team also uses customer-level visibility to understand historical payments, contracts, discounts, refunds, and billing and revenue schedules.

All of this information is available from one, easy-to-digest screen. This empowers a team without a traditional finance education to serve their customers with accurate information. Klara also uses the dashboards and reports to more accurately forecast future revenue, monitor SaaS metrics, and understand the dynamics of their business.

Highlights of their implementation:

  • Fully integrated with the Klara tech stack SalesForce > Ordway > QuickBooks
  • Leverage reporting and rollups to serve investor and customer requests
  • SaaS metrics

Topics: SaaS, DCTech, careers

 

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