The Importance of UX: What We Can Learn from Citibank’s $500M Mistake

Posted by Neel Dattani on Feb 25, 2021 10:00:00 AM

Late last week, Citibank made headlines when, rather than sending $7.8M in interest payments on the behalf of their client (cosmetics giant Revlon), Citibank accidentally sent $900M to creditors.

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Topics: billing, SaaS, operations, Software, automation, performance economy

How COVID-19 Impacts ASC 606 Revenue Recognition

Posted by Rachel Gonzalez on Feb 10, 2021 10:30:00 AM

In the past year, COVID-19 has completely changed the world we live in, and no business has been immune to these changes. In addition to transforming the way businesses operate day to day, COVID-19 has also affected the way businesses perform even their most core processes, including revenue recognition. 

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Topics: recurring revenue, revenue recognition, covid-19

What Roblox Got Wrong About Revenue Recognition

Posted by Sameer Gulati on Feb 3, 2021 10:00:00 AM

Last week, I saw that Roblox, a global online game platform, has been forced to delay its public market debut due to scrutiny from the SEC. My daughter is an avid Roblox player, so I was immediately intrigued.

Roblox’s valuation has grown over seven-fold in the months since the start of the COVID-19 pandemic, as video games continue to rise in popularity. However, according to an SEC memo, the commission has reservations over the way in which Roblox recognizes revenue from the sale of its currency, Robux, on the platform.

The struggles Roblox is facing are similar to the challenges of B2B companies we serve. In fact, simplifying revenue recognition for subscription businesses is one of the reasons we built the Ordway platform. 

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Topics: billing, recurring revenue, automation, revenue recognition, subscription management

6 Ways SaaS Finance Leaders Can Optimize their Quote to Cash Process

Posted by Rachel Gonzalez on Jan 21, 2021 10:00:00 AM

Optimizing your quote to cash process can seem like a daunting task, but maintaining the status quo with disconnected systems and operational inefficiencies places a much greater drag on your business. Where other billing systems are inflexible when it comes to complex pricing scenarios, Ordway is able to help businesses scale their operations and meet their customer needs. 

Read on for six ways that Ordway helped SaaS finance leaders optimize their own quote to cash process. 

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Topics: billing, SaaS, recurring revenue, automation

Why it's Time to Leave the Legacy Finance Stack Behind

Posted by Rachel Gonzalez on Jan 13, 2021 10:00:00 AM

Ordway is releasing a new whitepaper, The Ultimate Guide to Architecting a Flexible Finance Stack for Complex Business Models, to help multilayered businesses prepare for the next stage of growth.  

This whitepaper was inspired by the challenges that our customers have encountered prior to partnering with Ordway, such as:

  • Disconnected systems creating blockers and inhibiting growth
  • Gaps between sales and finance teams 
  • Costly systems maintenance and third-party consultants 
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Topics: billing, SaaS, Software, automation, scaling

Ordway Wins a Powderkeg 2020 National Tech Culture Award

Posted by Rachel Cotton on Jan 6, 2021 10:00:00 AM

We are thrilled to be recognized by the Powderkeg National Tech Culture Awards for Top-Rated Culture: Best Overall Scaleup. This award celebrates company cultures in the tech community beyond Silicon Valley, and we at Ordway are grateful to be recognized as a culture leader. 

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Topics: SaaS, DCTech, careers, culture, startup, scaling, hiring

3 Ways Finance Tech Leaders Can Approach Digital Transformation in the New Year

Posted by Jen McFarland, MPA on Dec 15, 2020 9:00:00 AM

About a month ago, Ordway reached out to me to share the following post with their audience. They had seen my work at Women Conquer Business helping organizations adapt and change in an age of disruption, and wanted to share this resource with you all as we approach 2021. 

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Topics: billing, operations, automation, change management, performance economy, scaling

Ordway Wins 2020 Stratus Award for Cloud Computing

Posted by Rachel Gonzalez on Dec 8, 2020 3:30:00 PM

We are excited to be able to announce that Ordway has been recognized by the 2020 Stratus Awards for Cloud Computing. This award highlights companies and individuals disrupting industries with innovative technologies, and that’s exactly what we’re aiming to do at Ordway. 

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Topics: billing, SaaS, recurring revenue, press release, Software, DCTech, performance economy

Ordway awards 3 DC Tech Heads of Finance for Excellence

Posted by Sameer Gulati on Dec 3, 2020 2:21:10 PM

Yesterday, I had the pleasure of honoring three finance leaders in DC Tech for their hard work and innovation. We piggybacked our awards with DCA Live’s Star CFO virtual gala hosted by Doug Anderson. Although we wish we could deliver these awards in person, we will be donating to the World Central Kitchen on behalf of each recipient to show our gratitude for all that they do to make their organizations better. 

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Topics: billing, SaaS, operations, automation, DCTech, scaling, revenue recognition

Empower your performance-driven business using APIs and webhooks

Posted by Eren Koont on Dec 2, 2020 9:38:49 AM

In today’s ultra-competitive marketplace, organizations need to be increasingly flexible in order to drive value for their customers with every interaction. To make that happen, they need systems that can support delivering the best-possible performance.

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Topics: API, Software, automation, webhooks

 

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