Our team is on a mission to help companies compete on a global scale through the Ordway platform. Today, I’m proud to announce our release of multi-entity billing and revenue management which means businesses can expand internationally with ease.
As your business grows, the last thing you want to worry about is if your finance stack will scale with you. I commissioned our team to leapfrog the limitations of legacy software and find solutions to multi-entity support that historically were only available to the Enterprise. Historically, only costly and clunky legacy ERP software could support multi-entity companies with their SaaS billing and accounting needs. This translated into manual workarounds and spreadsheets and hundreds of thousands spent on software fees and professional services, placing a drag on even the most nimble companies. Today, companies can run their business units independently and still unify subscription billing, revenue recognition, and investor metrics reporting within one system on the Ordway billing and revenue automation platform.
What Multi-Entity Support Means
Billing Unification
- Create unique invoice templates for each entity
- Assign products and plans to appropriate chart of accounts codes
- Configure local payment gateways based on local needs
- Set base currencies for each entity
- Revenue schedule unification and integration with the general ledger
Revenue Schedule Unification and GL Integration
- Send summary journal entries monthly to your ERP or accounting software
- Revenue reporting unification
Revenue Reporting Unification
- Report revenue, product mix, customer growth across all child entities
- Rollup child accounts receivable data to see the overall health of individual or aggregate entities
Scale Revenue with International Expansion, Mergers and Acquisitions, and other Multi-Entity Use Cases
- Are you ready to establish multiple entities in 2021?
- How do you know if multi-entity billing and revenue management suits your needs? Consider the following questions:
- Do you have large portions of revenue coming from customers in different parts of the world?
- Do you struggle to manage your product portfolio across the regions you serve? How about revenue reporting?
- Are you compelled to establish entities to comply with local regulations and laws?
- Are you considering establishing a wholly owned subsidiary? A Joint Venture?
- Do you have different trading and reporting currencies?
- Has international expansion required that you begin billing customers in their local currencies?
If your business is scaling internationally, and want help thinking through these questions, contact Ordway to set up a demo. We’ll walk you through our automated billing and revenue management platform and show you how to make multi-entity work for you.
Frequently asked questions
What is Multi-Entity Revenue Management and how does it benefit global businesses?
Multi-Entity Revenue Management allows businesses with international operations and recent acquisitions to manage billing and revenue across multiple legal entities. This feature helps streamline operations, reduce manual workarounds, and unify financial reporting, making it easier for companies to expand globally.
How does Ordway's platform support multi-entity billing and revenue management?
Ordway’s platform provides a unified system for subscription billing, revenue recognition, and investor metrics reporting. It allows businesses to create unique invoice templates, assign products to appropriate accounts, configure local payment gateways, and set base currencies for each entity, all within a single platform.
What are the key features of Ordway's multi-entity support?
Key features include billing unification, revenue schedule unification, integration with general ledgers, and revenue reporting unification. These features enable businesses to manage product portfolios, comply with local regulations, and handle different trading and reporting currencies efficiently.
Why is multi-entity revenue management important for companies with international expansion plans?
Multi-entity revenue management is crucial for companies planning international expansion as it helps manage revenue from different regions, comply with local laws, and handle billing in local currencies. This ensures smooth operations and accurate financial reporting across all business units.
How can businesses determine if they need multi-entity billing and revenue management?
Businesses can assess their need for multi-entity billing and revenue management by considering factors such as revenue sources from different regions, challenges in managing product portfolios across regions, compliance with local regulations, and the necessity to bill customers in local currencies. Ordway offers demos to help businesses evaluate their needs.
