Finance teams at High Growth Organizations can Scale Up Billing, Collections, and Revenue Recognition without costly Professional Services Engagements
WASHINGTON —November 2nd, 2021 — Ordway, the billing and revenue automation platform for scaling companies, today announced its no-code workflow orchestration capabilities for billing, collections, and revenue recognition. As a result, finance organizations can design workflows that automate repetitive and manual tasks instead of handling exceptions in spreadsheets, emails, and Slack.
Ordway’s no-code workflows support exceptions to normal business operations specific to particular customer scenarios or bespoke contractual requirements. People without a technical background can design and activate powerful no-code workflows that solve common exceptions which include:
- Invoice adjustments — apply late fees, update exchange rates, and modify due dates in advance of a bill run.
- Customer satisfaction — resolve disputes, approve SLA penalties, and apply one-time credits.
- Usage-based billing — trigger invoicing of new charges, replenish credits, or initiate contract upgrade processes.
Typically, if an organization needed to support unique business processes for billing and collections there were no good options. Finance teams could purchase an enterprise class billing system and hire an outside consulting firm to customize it, which requires significant budget outlays. Alternatively, finance could rely on accounting staff and spreadsheets to handle exceptions manually outside of the system. With Ordway’s no-code workflow, finance leaders can now bill for all of their bespoke contracts without needing expensive technical resources to support their diverse range of contract terms.
“It’s truly exciting to witness our SMB and Fortune 500 clients design flexible billing workflows without needing to write a single line of code,” said Subbu Venkiteswaran, senior vice president of R&D and operations at Ordway. “Ordway’s enterprise software framework means whatever business model our clients conceptualize, whether it incorporates usage-based pricing, or managing cohorts of customers differently, the Ordway platform can be configured by non-engineers through our low-code/no-code toolsets.”