Accounts Receivable Software

Can Ordway help accelerate cash flows and reduce DSOs?

Yes, there are a number of ways you can use Ordway technology to accelerate receivables.  For recurring payments, you can enable auto-pay options that charge cards or debit bank accounts .  Our aging reports provide you with visibility to outstanding balances that are 30, 60, or 90+ days past due.  With Ordway you can configure dunning messages to communicate to customers the new invoices are posted, due dates are approaching, and payments are past due.  When credit card expiration dates are approaching you can prompt customers to update payment details.

How can Ordway help to improve the customer experience?

Billing is often an under-estimated, but critical part of the customer experience.  We offer highly customized invoice templates that enable you to layout charges in a clear, concise manner.  You can add supporting information to cut down on inquiries such as rating tables, formula calculations, or usage records.   With Ordway you can set up a billing portal that enables customers to check balances, download invoices, and make payments in a self-service manner.  Additionally, you can automate a series of email communications so customers are kept informed about the financial status of their account.  Notify key stakeholders when statements are posted, payments are received, and renewal dates are approaching.

How can I collect payments from my customers?

With Ordway you can offer customers options to pay through a variety of channels including cards, bank transfers, or checks.  Payment runs can be initiated via Ordway or they can be processed outside of our system and routed through your preferred banking partner.  Through Ordway you can enable customers to setup auto-pay arrangements by specifying a credit card to be billed or bank account to be debited.  We have pre-built integrations to several leading payment gateways including Stripe, Exact Payments, and Card Connect.   Ordway also provides a software development kit (SDK) which enables rapid configuration of connections to additional payment gateways.

Can Ordway reduce inquiries to my accounts receivable team?

Yes, there are a few ways that Ordway can help reduce on inquiry volume.  First, we can provide your customers with a self-service billing portal.  Business sponsors and accounts payable staff at your customers can access the portal at any time to download invoices, make payments, or check account balances.  We can also post supplementary data such as usage detail records on the portal.  Another way we can reduce inquiry volume is optimizing your invoice design to help customers answer their own questions.  Examples include providing payment instructions, links to tax documents, and reference information about how calculations are performed and charges are calculated.

What types of customer communications can Ordway manage?

Ordway can setup an automated series of communications to billing contacts that are triggered either 1) by events or 2) contract dates.  For example, we can notify the customer if a card transaction failed or the expiration date is approaching and request that the payment details be updated.  For past due accounts, we can send a set of gentle reminders at regular intervals about the outstanding balance with instructions on how to pay.  We can also send informational messages throughout a subscription lifecycle such as a notification that a subscription is approaching its renewal date or has recently been auto-renewed.  These are just a few examples of the dozens of types of communications that can be automatically generated.