Ordway
by Ordway · Revenue Recognition
Billing and revenue automation platform with ASC 606 / IFRS 15 revenue recognition for SaaS.
- Works with
- NetSuite, QuickBooks Online, Sage Intacct, Xero, Salesforce, HubSpot, Avalara, Stripe, Custom systems, Tray.io / Hotglue
- Deployment
- Cloud
- Company size
- SMB, Mid-market
- Pricing
- Subscription, quote-based
- Founded
- 2018
- Headquarters
- Washington, D.C., USA
Overview
Ordway is a billing and revenue automation platform aimed at SaaS, cloud, fintech, and other subscription and usage-based businesses. It manages the order-to-revenue cycle in one system, covering product catalog and pricing, subscription and usage billing, invoicing, payment collection, accounts receivable, revenue recognition, and SaaS metrics reporting. The platform is positioned as a specialized billing and revenue subledger that sits between a company's CRM and its general ledger, automating processes that finance teams often run manually in spreadsheets.
For revenue recognition specifically, Ordway maintains a revenue subledger that tracks deferred and recognized revenue and supports ASC 606 (US GAAP) and IFRS 15 reporting. It handles multiple-element arrangements, standalone selling price (SSP) allocation, contract modifications, and several recognition methods (for example straight-line, exact-day, and point-in-time at invoicing, activation, or milestone). Journal entries are posted from the subledger to the general ledger in an ERP or accounting application, either as summary or detailed entries, and the platform supports multi-entity, multi-currency operations including foreign exchange handling.
Ordway connects to surrounding systems through prebuilt native connectors and a REST API. It receives contracts and lifecycle events from CRM systems such as Salesforce and HubSpot, collects payments through gateways such as Stripe and Braintree, calculates tax through providers such as Avalara and Anrok, and publishes billing, collections, and revenue data to accounting and ERP systems including NetSuite, QuickBooks Online, Sage Intacct, and Xero. The company reports SOC 1 and SOC 2 audits covering its security controls.
Screenshots & demo
Demo video from the vendor's YouTube channel.
Features & capabilities
Subscription and usage billing
Configurable catalog and rating engine for recurring and consumption-based pricing.
- Multi-tiered, per-user, and good-better-best pricing plans
- Usage-based billing with volume tiers, percentile calculations, and rollovers
- Overage fees, monthly minimums, and prepaid credits with drawdowns
- Percentage-of-transaction and marketplace commission billing
- One-time charges for hardware, professional services, and shipping
- Free trial management and promotional pricing
Revenue recognition (ASC 606 / IFRS 15)
Revenue subledger for deferred and recognized revenue with GL posting.
- Deferred revenue tracking for as-a-Service and subscription contracts
- Multiple-element arrangement and standalone selling price (SSP) allocation
- Contract modification handling
- Recognition methods including straight-line, exact-day, and point-in-time
- Summary or detailed journal entry posting to ERP / accounting GL
- Multi-entity and multi-currency revenue reporting
Accounts receivable and payments
Collections automation across multiple payment methods.
- Credit card, ACH, wire, and check payment collection
- Dunning workflows for failed and past-due payments
- Auto-pay and recurring payment processing
- Aging reports and cash application tracking
- Customer self-service portal for invoices and balances
SaaS metrics and reporting
Operating and investor metrics derived from billing and revenue data.
- MRR / ARR and bookings (ACV, TCV) reporting
- Net dollar retention, churn, and renewal tracking
- Customer count and average revenue per account
- Recognized and deferred revenue reports in real time
- Customizable filters by date range, product line, segment, and currency
Integrations and platform
Prebuilt connectors, REST API, and iPaaS options to connect surrounding systems.
- Native connectors to NetSuite, QuickBooks Online, Sage Intacct, and Xero
- Bi-directional CRM sync with Salesforce and HubSpot
- Payment gateway connectors (Stripe, Braintree, and others)
- Tax connectors (Avalara, Anrok, Kintsugi)
- REST API, webhooks, and a Payments SDK for custom integrations
- iPaaS support via Tray.io and Hotglue
AI and automation
- Natural language interface for querying ARR, contracts, and renewals
- Agentic workflows for billing and accounting tasks
- Automated invoice generation across pricing models
Common use cases
- Automating ASC 606 / IFRS 15 revenue recognition for subscription contracts
- Replacing spreadsheet-based billing and revenue close processes
- Billing complex usage-based and hybrid pricing models
- Posting revenue and billing journal entries to NetSuite, QuickBooks, or Sage Intacct
- Reducing days sales outstanding with automated dunning and collections
- Reporting SaaS metrics (MRR, ARR, NDR) for board and investor updates
- Acting as a billing layer between CRM and an existing ERP / accounting system
Strengths & considerations
Strengths
- Combines subscription billing, AR, and a revenue subledger in one platform rather than separate tools
- Flexible rating engine covering tiered, usage-based, percentage-of-transaction, and hybrid models
- Prebuilt bi-directional connectors to both CRM (Salesforce, HubSpot) and ERP/accounting (NetSuite, QuickBooks, Sage Intacct, Xero)
- Designed to sit alongside an existing general ledger as a billing and revenue subledger
- Often positioned as a lighter-weight alternative to enterprise billing suites for growing SaaS companies
Considerations
- Vendor does not publish pricing; cost requires a sales conversation and is quote-based
- Focused on SaaS / subscription and usage models, less suited to non-recurring product businesses
- Functions as a billing and revenue layer, not a full general ledger or accounting system
- Smaller company (roughly 60 employees) and ecosystem than incumbent billing platforms
ERP integrations
Publishes billings, collections, credits, and revenue schedules to the GL.
Posts journal entries for invoices, credits, payments, refunds, and revenue schedules.
Syncs revenue subledger with the GL for journal entry posting.
Connects the GL with the revenue subledger for billing and AR activity.
Receives contracts for new customers, upsells, renewals, and cancellations.
Publishes contracts and customer lifecycle events.
Calculates sales tax based on address and product category.
Collects payments via cards, debit, and ACH.
REST endpoints, webhooks, and a Payments SDK for custom integrations.
Additional app connectors via iPaaS workflow tools.
Pricing
Ordway does not publish pricing. Cost is determined via a sales conversation; third-party sites list estimates but no official tiers are published by the vendor. Get an independent shortlist with pricing guidance below.
Technical & security
- Hosting
- Vendor-hosted SaaS
- Compliance
- SOC 1, SOC 2
About the vendor
- Founded
- 2018
- Headquarters
- Washington, D.C., USA
- Employees
- ~60
- Ownership
- Private (venture-backed; investors include CRV, Revolution, Clocktower Ventures)
- Notable customers
- Ocrolus, Dispatch, SmartEquip, Casepoint, Vestwell, CareAcademy, HappyCo
Alternatives to Ordway in Revenue Recognition
Ordway — frequently asked questions
Does Ordway support ASC 606 and IFRS 15 revenue recognition?
Yes. Ordway maintains a revenue subledger that tracks deferred and recognized revenue and supports ASC 606 (US GAAP) and IFRS 15 reporting, including multiple-element arrangements, SSP allocation, and contract modifications.
Which ERP and accounting systems does Ordway integrate with?
Ordway offers prebuilt connectors to NetSuite, QuickBooks Online, Sage Intacct, and Xero, publishing billing, collections, and revenue journal entries to the general ledger. It also connects to Salesforce and HubSpot CRM.
Is Ordway a full ERP or accounting system?
No. Ordway is a billing and revenue automation layer that sits between CRM and an existing general ledger. It handles billing, AR, and revenue recognition, then posts journal entries to a separate ERP or accounting system.
How much does Ordway cost?
Ordway does not publish pricing. Cost is quote-based and depends on usage and configuration; prospective buyers contact Ordway for a tailored quote.
What types of billing models does Ordway support?
Ordway supports subscription, per-user, tiered, usage-based, percentage-of-transaction, and one-time billing, including overages, minimums, prepaid credits, and hybrid combinations.
Evaluating Revenue Recognition?
Tell us your ERP and requirements and we'll send an independent shortlist — including Ordway and the best-fit alternatives — with honest pros and cons.