6 ways SaaS finance leaders can optimize their quote to cash process

Rachel Gonzalez
by Rachel Gonzalez LinkedIn
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. 

CFO on phone_

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

1. Tackle complex multi-tiered billing 

Prior to implementing the Ordway billing and revenue automation platform, the ListReports team was forced to make a tradeoff between shifting focus from supporting their core SaaS platform to build and refactor internal billing systems. Manual billing placed a drag on the business, and ListReports needed to consolidate and simplify their SaaS billing operation within a system that could handle contracts of varying duration, pricing tiers, individuals vs. companies. With the billing and revenue automation platform in place, 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, and ListReports can focus on delivering quality service and growing their business. 

2. Free up time to focus on the big picture

The BAO Systems CFO realized that manual billing and revenue recognition processes were slowing down his team and leading to frustrated customers. Manual workarounds and professional service fees kept the team from focusing on the big picture. With Ordway, questions were met with industry-leading responsiveness, and BAO Systems was able to handle custom contract terms and recurring charges for technology hosting and professional services with the automated billing system. 

BAO Systems eliminates manual workarounds in their billing process.

3. Reduce number of people focused on billing with automation 

Botkeeper’s manual order-to-revenue process was unable to scale with their business, leading to hours lost rechecking invoices. With Ordway, the Botkeeper team was able to integrate with Salesforce, and leadership could automatically set up recurring SaaS contracts in Ordway with proper terms, discounts, billing frequency, etc. Now, the team has four less people focused on billing and is able to prioritize more valuable projects. 

4. Bridge CRM to General Ledger to produce real ROI and time savings

Prior to partnering with Ordway, restaurant chain POS System Qu was challenged by a disjointed data flow between Salesforce and QuickBooks, resulting in employee time sink, missing invoices and lost revenue, incorrect calculations frustrating customers, and unnecessary late payments. Since automating their order-to-revenue workflow with Ordway, Qu was able to save 50% of an operation team member’s time, fortify their customer experience with information-rich invoices and statements, and recover lost revenue from previously improperly invoiced customers.

Controller Sachin Agarwal says, “I would say it’s a great ROI. It’s an even better return than we expected. Definitely, partnering with Ordway has been the best decision we have made.”

QuBeyond streamlines their quote to cash process with Ordway. 

5. Extend the life of QuickBooks and simplify sales-to-finance workflow

CompStak’s team was using SaaSOptics and spending days each month managing their annual, quarterly, and monthly billing, as well as closing the books and properly recognizing revenue. Outgrowing this legacy system, CompStak turned to Ordway. With the Ordway platform handling the heavy lifting of their billing process, CompStak could extend the life of their QuickBooks contract, saving overall costs for their business. Now, the sales-to-finance workflow in the CompStak business has been reduced to four simple steps. 

6. Accelerate recurring billing process by 90%

Plagued by disconnected financial systems, manual and error-prone processes, and no process in place for tracking deferred revenue, fintech company Ocrolus turned to Ordway for help. The Ordway platform was able to tackle revenue recognition, integrate with their current finance tech stack, comprised of Salesforce CRM and QuickBooks as their accounting software, and handle cash reconciliations of money coming into the organization. Ordway saves the Ocrolus team 18 days a month in manual processes, allowing the team to get back to projects that matter. 

Ordway was purpose-built to streamline quote-to-cash processes and give finance leaders time back in their busy days. Request a demo to see how the Ordway platform can transform your business. 

Topics: SaaS, finance leaders, finance tech stack, revenue management, workflow automation


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