Ordway is on a mission to make billing and revenue automation a reality for growing businesses. The legacy SaaS billing products that were designed nearly a decade ago handle a few use cases well, but they are very rigid and companies quickly discovered that maintenance and customization come at the cost of lengthy projects that gobble up internal resources.
They were designed with specific use cases in mind, but when scenarios start to get more complicated, they start to falter. It’s like we would still be forced to print turn-by-turn directions on our next road trip and be completely stranded if we made the wrong turn. Today we expect a Google maps or Waze to get us to our destination in the most efficient way, and adapt if we wanted to go via a different route.
Bad billing and finance software leads to negative impact on a business
Bad software affects both top line revenue as well as margin. A recent Forbes article noted that delayed accounts receivable is one of the main reasons growing businesses fail. Not being able to effectively receive money from customers is certainly a recipe for disaster. Too often, an error-filled invoice, or failing to bill a customer at the appropriate time, can lead to cash flow problems that sink a business. Bad software also impacts real ongoing expenses for business. Efficiency in processing invoices can lead to a real sustainable advantage for companies where top performing companies process invoices at ~$0.70/invoice where as bottom performers can be above $11.
Conversations prepared me to tackle this problem
As an early Product Manager at Zuora, I helped them chart a path to their success in enterprise subscription management services. What I learned through this experience, as well as through the last 20 years engaging with the various aspects of the billing cycle – credit card processing, invoicing, and financial management – is that growing businesses are left behind when it comes to choices for billing and revenue automation software. I’ve been thinking about this problem for a while, and I even had breakfast with Recurly’s Founder, Isaac Hall, early on to encourage him to tackle the problem.
Ultimately, I asked myself if I ever met anyone that said “I love my billing and finance software.” I asked others the same question, and no one could answer yes.
We’ve assembled a team at Ordway who has the best chance of bringing relief to small and growing businesses that need more than a rigid point solution and are struggling to find the flexibility of enterprise-quality platforms without the overhead of costly implementation and maintenance.
We’re building a smart billing and revenue automation platform for growing businesses that:
- focuses organizations by eliminating difficult manual processes
- manages complex pricing and contract scenarios flexibly and accurately
- adapts alongside the organization by scaling efficiently
Our customers across industries are already seeing real results from implementing the Ordway platform. We’re excited for the coming adventure that leads to a “Yes” when we ultimately ask the question, “Do you love your billing and finance software?