Case Study: OneDay automates complex billing and revenue recognition with Ordway

OneDay speeds up month-end close by 1-2 months with Ordway

OneDay, a video-based communication platform, faced significant challenges with its complex billing processes. Their finance team struggled with managing intricate parent-child billing hierarchies, calculating multi-jurisdiction sales taxes, and handling mid-contract prorations for their large customers. Using a combination of QuickBooks, Chargebee, and manual spreadsheets for revenue recognition was cumbersome and not scalable. They implemented Ordway's billing and revenue management software to automate this order-to-cash process.

Ordway provided a solution that automated recurring billing, including bulk customer onboarding and parent-child invoice generation. The software integrated with Avalara for automated sales tax calculations and with CardConnect for payment collection. As a result, OneDay automated its revenue recognition in compliance with ASC 606, significantly speeding up its monthly close. The implementation led to a major time savings, with their CFO noting that their most recent audit was completed one to two months sooner than normal thanks to Ordway.

OneDay