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

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

Are you missing this key step in your dunning process?

Posted by Sushma Ashutosh on Nov 19, 2020 1:30:00 PM

to dun (dŭn) tr.vbto make repeated and insistent demands upon, especially for the payment of a debt; often involves escalating degrees of intensity; term first recorded in English in 1620–30. 

You’d be hard pressed to find many people who actually enjoy chasing down clients for late payments, but it’s a challenge that businesses have had to deal with for as long as people have been trading products and services… Payments are sometimes late, and tough economic times only put more pressure on accounting teams to recover payments and balance the books each month.

If the process of chasing down payments—a.k.a., “dunning” in accounting parlance—has in fact been around since at least 1620, then you’d think that someone would have come up with a no-fail way to guarantee timely payment by now. 

Yet, while no single methodology can guarantee timely revenue recovery, you can take steps to improve your quote-to-cash process. Our recommendation: Implement a solid dunning management strategy that caters to your customers’ ways of doing business with you.

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Topics: billing, SaaS, recurring revenue, automation, performance economy, churn

Having Trouble Scaling a Saas Business?

Posted by Rachel Gonzalez on Nov 4, 2020 10:00:00 AM

Scaling a SaaS business is a unique challenge, and a good problem to have. The need to scale comes from an increase in customers and ARR, and likely greater headcount as well. As you scale, it’s critical that the backbone of your business- your billing and revenue system- is scaling along with you. 

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Topics: billing, SaaS, Pricing, automation, performance economy, churn, revenue recognition

Digital transformation in FinTech: Automation technology drives value through efficient revenue management

Posted by Eren Koont on Sep 14, 2020 3:18:27 PM

With the term “digital transformation” splashed across business pages for some years now, it’s far too easy to think of it as a “Big Bang” occurrence—a once-in-a-lifetime experience that alters the universe forever. Technology is constantly evolving and the digital transformations we’re witnessing today have their origins in long-progressing industry shifts. The seeds of these shifts were planted many seasons ago.

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Topics: billing, SaaS, operations, automation, performance economy, subscription management

Performance Economy Spotlight #6. Bullfrog Power is transforming Canada’s energy landscape with gainsharing

Posted by Eren Koont on Aug 17, 2020 2:11:00 PM

Energy is big business. This spotlight features a Canadian company that’s working to change the energy game. As one of the first social enterprises in Canada, Bullfrog Power uses business as a catalyst for social and environmental change. It embraces the principles of the performance economy by adhering to performance, transparency and accountability all while moving the needle on social and environmental outcomes.

Read these spotlights for more Performance Economy inspiration:

  • M32 Connect – Uses a proprietary, machine learning–driven SaaS “platform of platforms” to help digital publishers maximize the revenue they earn from their advertising assets
  • Indigo Ag – Uses data-driven technological innovations to rethink farming from seed to soil to sale
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Topics: performance economy

Performance Economy #5. Rethinking the farming business model from seed to sale

Posted by Eren Koont on Jul 17, 2020 10:27:00 AM

We love it when we get to witness the performance economy in action. Why? We believe that, now and in the future, sustainable business success is dependent on delivering greater value with every transaction. But, not just any value... it must be demonstrable to the customer. 

This demonstrability—or “transparency,” as the model calls it—is woven through every fiber of the modern-day performance economy, especially in the way that businesses measure and optimize success for their customers. And digital technology is a key tool in making that transparency possible.

This next performance economy spotlight features a company—Indigo Agriculture—that’s using technology to embed value in every level of their business. What’s more, they’re working to support the environment while doing so.

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Topics: Pricing, Software, performance economy

Breaking news: Ordway allows Finance to say “yes!” to Sales

Posted by Pike Reynolds on Jul 10, 2020 11:46:00 AM

I’m excited to join Ordway as head of Sales because in my 30 year career I’ve often been hampered in my ability to serve the needs of my customers, chiefly because the Finance team couldn’t support an ideal commercial relationship. 

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Topics: billing, SaaS, press release, careers, performance economy, hiring

Performance Economy #4. M32 Connect turns complex pricing into revenue wins

Posted by Eren Koont on Jun 22, 2020 1:46:00 PM

Following on previous spotlights on businesses that are using automation and other digital innovations to deliver greater customer value, we’re excited to feature M32 Connect—an AdTech and analytics company that helps publishers maximize the revenue they get from their digital ad assets using a proprietary, machine learning–driven SaaS platform.

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Topics: SaaS, transactions, performance economy, Adtech

 

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  • tips to streamline your billing and revenue processes
 

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