New Partnership to Automate Billing for Innovative Pricing such as Multi-Tiered Subscriptions and Usage-Based Pricing
WASHINGTON, December 14, 2021- Ordway, the billing and revenue automation platform for scaling companies, today announced a new partnership with Sage to automate billing for innovative pricing models and contract structures. Ordway’s application has been integrated with the Sage Intacct cloud financial management system and is now listed on the Sage Intacct Marketplace.
Direct integration between Ordway and the Sage Intacct platform enables details about invoicing and payments to flow into the Accounts Receivable application then on to other applications such as cash management and the Sage Intacct Intelligent GL™. By automating complex billing processes, organizations can reduce their dependency on spreadsheets and scale their invoicing without having to add a large number of employees.
“We are excited to partner with Sage to help finance teams support the new innovative pricing models emerging in the market by integrating our billing application with Sage Intacct. More and more companies are combining elements of subscription, usage, and percentage pricing models in ways that provide tons of flexibility for customers, but also tons of complexity for accounting,” said Sameer Gulati, Founder and CEO of Ordway. “The billing for these complex contracts is often being managed in spreadsheets by accounting staff, which creates challenges with scaling and a drag on growth for the business.”
“The billing process for complex pricing and contract structures can be costly and time-consuming, resulting in delays to cash flows and financial reporting,” said Melody Williams, Sage’s Head of Business Development for Sage Intacct. “The addition of Ordway to our marketplace of partner solutions provides a way for joint customers to further streamline their financial processes. Together we can help our mutual customers more easily scale their invoice processing and revenue collection as they grow, while also improving productivity and efficiency.”
Ordway supports a diverse range of innovative billing models including subscription, usage-based, percentage commission, and dynamic pricing. To ensure that bills are accurate Ordway captures details such as products, pricing, and payment terms for each account directly from the CRM application. For variable fees, consumption data is streamed from the customer’s product into the Ordway rating engine for calculations. Ordway also automates complex upgrades and renewal contracts for existing accounts, performing the necessary pricing adjustments and prorations.