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: operations, revenue recognition, covid-19, revenue management

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

6 ways Ordway flexibility helps companies during COVID-19

Posted by Sushma Ashutosh on Apr 15, 2020 12:54:20 PM

The last couple of months continuing to build our business during the COVID-19 crisis have seemed like years — for us, and for many of our customers. We’re all adapting to new ways of interacting with each other and with our customers. 

At this moment, everyone is doing what they can to meet customers "where they are" and grow efficiently. Here are six ways our customers are using the flexibility of the Ordway billing and revenue automation platform to stabilize their business, and to better serve their customers during this challenging period.

In this post, we're not revealing names of the companies involved to protect their internal process and relationships with their customers.

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Topics: SaaS, revenue recognition, subscription management, covid-19, customer experience

Three-question framework to scope implementation. Highlight on Global Mentoring Solutions.

Posted by Sushma Ashutosh on Jan 20, 2020 2:15:00 PM

The best aspect of working with Ordway clients is the fact that we get to watch our customers grow and thrive. A great idea, product/market fit, and team are critical to future success, but so is the infrastructure needed to scale. Oftentimes, we are fortunate to engage with customers right as they are re-imagining their billing architecture and infrastructure to enable more rapid growth and scale.

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Topics: API, scaling, revenue recognition, implementation, recurring billing

Gulati selected to present Your Winning Product Playbook at SaaSNorth

Posted by Eren Koont on Nov 7, 2019 4:27:00 PM

Washington DC – November 7, 2019 – Ordway, a billing and revenue automation platform for scaling companies, is pleased to announce that Founder & CEO Sameer Gulati has been selected to present at the SaaSNorth Conference in Ottawa, Canada. Gulati will participate in a panel session titled “Your Winning Product Playbook,” scheduled for Wednesday, November 27th.

“Listening to customers is key, but so is a vision to fundamentally improve the way organizations and people run their businesses.”

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Topics: SaaS, press, revenue recognition

Pain in the GAAP: Episode 5. Recovering Lost Revenue... Not as hard as the Lost Ark.

Posted by Eren Koont on Dec 6, 2018 9:42:00 AM

In the last episode, we covered everything you’d want to know about Monthly Recurring Revenue. In this episode, we dive into methods to identify and recover lost revenue. It’s not as hard as finding the Lost Ark in Indiana Jones and the Raiders of the Lost Ark, but as the viewer found out in the Last Crusade, one must choose their method “wisely.”

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Topics: SaaS, revenue recognition, revenue management

Pain in the GAAP: Episode 3, BBR: Bookings, Billings, and Revenue

Posted by Eren Koont on Sep 26, 2018 10:43:00 AM

In the last episode, we covered everything you’d want to know about collections. This episode we covered the ins and outs of Bookings, Billings, and Revenue. BBR, not Pabst Blue Ribbon PBR, but BBR, Bookings, Billings, and Revenue.

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Topics: SaaS, operations, revenue recognition, revenue management

 

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