Spotluck, a Maryland-based company, offers a free restaurant-finder mobile app that features a daily spin game. When poked, the spinner presents discounts at local restaurants sorted by neighborhood and cuisine. Now serving more than ten markets across the country, the iOS and Android app was ranked #1 by U.S. News and World Reports for “apps that save you money every time you dine out.”
Spotluck experienced the growing pains of a company launching a mobile app into multiple markets simultaneously. In addition to building restaurant networks in participating cities, they were trying to gain traction in new markets. As they grew, they negotiated a referral fee with each restaurant individually. This created a dynamic business model that was good for their customers, but was too complex for their internal teams to support. The more they grew, their issues compounded each month.
The restaurant referral fee, paid when new diners choose a restaurant, is the basis of Spotluck’s revenue stream. Total fees each month are variable because they are based on the number of diners that visit participating restaurant locations. Aggregating and consolidating data for each client, generating a manual invoice, and billing their customers was overwhelming their resources.
The company was manually generating thousands of invoices each month to deliver the services outlined in their individual contracts with restaurants. This labor-intensive process took four days to generate and mail paper invoices. The manual handover of data from engineering to finance resulted in:
Spotluck needed an automated billing and revenue solution that could manage discrete pricing, streamline their complicated invoicing cycle, and efficiently add additional restaurants gained through their customer acquisition processes.
Ordway’s billing and revenue automation platform streamlined how Spotluck handles their many individual contracts with their clients. The software eliminated errors within invoices sent to restaurants and improved internal relationships between the engineer and finance teams.
“All of our revenue reporting comes through Ordway. I can generate the exact reports our investors would like to see. That’s saving a lot of time, not to mention our invoicing and billing cycle is fully automatic.”
Shirish Verma, CFO Spotluck
Ultimately, their investment in the platform along with a speedy two-week implementation of Ordway, freed Spotluck personnel and capital to align internal efforts with strategic growth initiatives.
Ordway auto-generates invoices on the first of every month and delivers them to every restaurant both by email and via a printed invoice sent through the USPS.
Invoicing is fully automated and error-free and empowers Spotluck to grow their presence in new markets, recruit new participating restaurants, and expand their active consumer base.