Company Research Report: Ordway

Company Overview

• Name: Ordway

• Mission of the Company: To liberate finance teams from mundane, repetitive tasks and to make billing and revenue recognition processes as effortless as possible, allowing them to focus on strategic initiatives and growth. Ordway aims to provide flexible billing and revenue systems designed for today's innovative business models and future market evolutions.

• Founded: 2018

• Founder: Sameer Gulati

• Key People:

• Sameer Gulati, Founder and CEO

• Subbu Venkiteswaran, Senior Vice President of R&D and Operations

• Steve Keifer, Chief Marketing Officer

• Max Rosenberg, Vice President of Client Services

• Headquarters: No information is available.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Ordway is known for its SaaS finance platform that supports subscription billing, usage billing, revenue recognition, and SaaS metrics reporting for ARR, net retention, and churn.

Products

• Subscription Billing Software:

• Description: This software supports subscription billing across various models, including "per user per month," multi-tier, and more.

• Key Features:

• Supports free trials, freemium models, and various payment frequencies.

• Mid-contract changes such as price adjustments and new line items.

• Integrations with CRM, ERP, sales tax, payment processors.

• Usage-Based Billing Software:

• Description: Designed to automate billing based on cloud service consumption, facilitating efficient data handling from consumption to collection.

• Key Features:

• Automated calculation of charges for volume, tiered, and stair-step billing models.

• Manages overage charges, prepaid usage, capacity contracts, and more.

• Supports discounting models and provides detailed invoice features.

• Revenue Recognition Software:

• Description: Automates ASC 606 and IFRS 15 compliance for recognizing revenue from various contract models.

• Key Features:

• Supports multiple element arrangements and deferred revenue schedules.

• Integrates with general ledgers, supporting multi-currency and multi-entity environments.

• Provides automation to reduce manual processes and audit risks.

• Accounts Receivable Software:

• Description: Automates AR processes enhancing cash flow efficiency with flexible payment options.

• Key Features:

• Self-service billing portal, aging reports, and automated dunning workflows.

• Supports various payment channels including ACH, cards, and wires.

• Automated reconciliation of payments and journal entries.

• SaaS Metrics Reporting:

• Description: Provides KPI reporting on SaaS metrics like recurring revenue, churn, and retention to support investors and management.

• Key Features:

• Captures customer metrics to support strategic decisions.

• Offers comprehensive integration with CRM systems.

• Presents a single source of truth for financial and sales data.

Recent Developments

• New Products Launched:

• Ordway recently launched a self-service buying experience for product-led growth, allowing SaaS companies to manage pricing plans, billing details, and initial payments seamlessly.

• Ordway has become a Vendr-verified subscription billing software provider, meeting rigorous standards for transparency and fairness—indicative of only 1% of software companies achieving such recognition.

• New Features Added:

• The addition of automated functionalities in the billing sphere to handle complex pricing strategies and mid-contract adjustments, particularly with usage-based billing capabilities.

• New Partnerships and Developments:

• Ordway has been recognized by Tekpon as a leading subscription management software in 2024, indicating its growing influence and adaptability in the SaaS billing and subscription management market.

• Ongoing expansion of integrations with financial and accounting systems like Quickbooks and Oracle NetSuite to enhance its SaaS finance platform capabilities.

The above comprehensive analysis provides insights into the transformative role Ordway plays in the billing and revenue recognition sector, underscoring its continual evolution to meet the contemporary needs of various business models within the SaaS marketplace.