Striving for the lean deal desk: Integrating Ordway and HubSpot

Rachel Gonzalez
by Rachel Gonzalez LinkedIn
May 14, 2021 10:00:00 AM

Have you considered the complexities involved in your current sales-to-finance workflow? From the time a new opportunity is created, to when that deal closes and a customer receives that all-important first invoice, challenges can arise.

Tidelift blog post

Here is a hypothetical scenario that represents how many businesses are managing the order-to-revenue workflow within their finance tech stack today. 

  1. Sales sends a proposal 
  2. Customer accepts the proposal 
  3. Deal is closed in the CRM
  4. Here is where challenges arise- error checking contract details, billing information, and other key info. If you don’t get it right the first time with manual data entry, you will have to spend twice as long checking and updating your company systems 
  5. First invoice is sent (hopefully with no reputation-damaging errors) 

Each stage of even a simple order-to-revenue workflow without bespoke contracts or complex billing can introduce errors, especially with manual processes in place. This complexity is why many of today’s businesses utilize a deal desk to manage the tasks from orders to billing.    

What is a deal desk and what challenges does it pose? 

A deal desk brings together important stakeholders and information across departments so that representatives from sales, finance, customer success, legal, and any other relevant parties can review deals together before they close and contractual obligations are created.

Deal desks can be extremely beneficial for your business. The open exchange of information before a deal progresses allows cross-functional teams to align, and can save a lot of time and headaches down the line. However, for a high-growth business, a formal deal desk can also be a sticking point that slows teams down. 

And while a company scales, or grows in complexity, deal desks can often mushroom as well to keep up with the change. However, most companies strive to keep finance and operations teams as lean as possible so they can focus investments in product development, sales, and marketing.

Deal desks with their order-to-revenue workstreams, should align competing priorities. At the bare minimum, they will need to consider the priorities of four key internal teams (not to mention what the customer wants and needs):

Deal desk priorities

HubSpot CRM to Ordway subscription billing integration creates deal consistency for Tidelift

Tidelift automated the flow of contract data from their Sales CRM (HubSpot) to their subscription billing platform (Ordway). Since contract data and billing information has zero chance of getting lost or changed while moving through a deal desk, Tidelift was able to reduce the need for a formal deal desk. 

Prior to adopting Ordway, the Tidelift finance tech stack included the Chargebee billing point solution. They had to bring together different departments and sources of information—this manual work cost them countless hours and caused internal friction with the sales team. Now, all the key customer information from Tidelift’s HubSpot CRM flows directly to the Ordway platform to initiate proper billing and revenue recognition.

Note: For customers not using HubSpot, Ordway also has a best-in-class Salesforce connector to automate the sales-to-finance workflow. 

Ordway’s integration with Tidelift’s HubSpot CRM means their Head of Finance and Business Operations, Brian Weisberg, can convert deals from a “closed won” status to a draft contract in Ordway with the click of a button before reviewing it and setting it live. All relevant teams have access to the information in both their CRM and their billing system to support the customer throughout all future sales and customer lifecycle stages. 

Tidelift saves a full-time equivalent (FTE) and keeps the deal desk lean

By cutting down the manual aspects of their sales-to-finance process, Tidelift avoids having to increase headcount solely to manage billing. “It's the first time in my career that I have not had buyer's remorse with a billing and subscription management solution,” said Weisberg. 

Check out the Tidelift case study

If you are looking to minimize costs and maximize efficiency in your sales-to-finance workflow, send us a note- we’d love to help. 

Topics: operations, subscription management, finance leaders


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