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.
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.
Read on for six ways that Ordway helped SaaS finance leaders optimize their own quote to cash process.
Ordway is releasing a new whitepaper, The Ultimate Guide to Architecting a Flexible Finance Stack for Complex Business Models, to help multilayered businesses prepare for the next stage of growth.
This whitepaper was inspired by the challenges that our customers have encountered prior to partnering with Ordway, such as:
- Disconnected systems creating blockers and inhibiting growth
- Gaps between sales and finance teams
- Costly systems maintenance and third-party consultants
We are thrilled to be recognized by the Powderkeg National Tech Culture Awards for Top-Rated Culture: Best Overall Scaleup. This award celebrates company cultures in the tech community beyond Silicon Valley, and we at Ordway are grateful to be recognized as a culture leader.
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.
Yesterday, I had the pleasure of honoring three finance leaders in DC Tech for their hard work and innovation. We piggybacked our awards with DCA Live’s Star CFO virtual gala hosted by Doug Anderson. Although we wish we could deliver these awards in person, we will be donating to the World Central Kitchen on behalf of each recipient to show our gratitude for all that they do to make their organizations better.
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.
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.
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.
We’re very excited to announce that the Ordway billing and revenue automation platform is a 2020 TiE50 Winner in the prestigious TiE50 Awards Program. This ten-year old awards competition is a program of TiEcon, the world's largest conference for tech entrepreneurs.