Ordway is a billing and revenue automation platform that streamlines the order-to-revenue cycle for subscription-based and usage-based business models. By automating invoicing, accounts receivable, and revenue recognition, it reduces the time to generate invoices from weeks to days, enabling businesses to scale efficiently.
Funding
$12.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many SaaS, cloud, and fintech companies struggle with complex billing scenarios, manual invoicing processes, and the need to accurately recognize revenue in accordance with ASC 606 and IFRS 15 standards. These challenges lead to delayed invoicing, errors in revenue reporting, and inefficient scaling.
Solution
Ordway provides a billing and revenue automation platform designed to streamline the order-to-revenue cycle, particularly for businesses with subscription and usage-based pricing models. The platform automates invoicing, accounts receivable, and revenue recognition, reducing the time required for monthly billing cycles. By replacing spreadsheet-based processes with automated workflows, Ordway enables businesses to scale efficiently while maintaining accurate financial reporting. The system supports various pricing models, including fixed subscription fees, usage-based pricing, and transaction-based pricing.
Target Audience
Ordway targets SaaS, cloud, and fintech companies that utilize subscription, usage-based, and transaction-based pricing models and require automated billing and revenue recognition processes.
Features
- Automated subscription billing with support for per-user, multi-tiered, pay-as-you-go, prepaid, and free trial pricing structures
- Usage-based billing features including rollovers, overage fees, monthly minimums, and prepaid credits with drawdowns
- Revenue recognition automation compliant with ASC 606 and IFRS 15, including deferred revenue tracking, standalone selling price (SSP) calculations, and contract modification handling
- Automated accounts receivable processes, including aging reports, dunning emails, a customer self-service portal, and cash application
- SaaS metrics reporting, providing key performance indicators (KPIs) such as MRR/ARR, net dollar retention, bookings, expansions, renewals, and churn
- Integrations with CRM, ERP, tax, and accounting applications via APIs