Ordway and Exact Payments streamline billing and embedded payments

Thursday 10 August 2023 13:46 CET | News

Ordway has tapped embedded payments provider Exact Payments to offer payments processing, automated reconciliation, and cash application to its customers.


By integrating an embedded payments solution, Ordway’s clients will benefit from a seamless sign-up process for payment acceptance without having to leave the Ordway application. The unified solution will also significantly reduce manual processes with payments posted to accounting or ERP solutions automatically.

Ordway has tapped embedded payments provider Exact Payments to offer payments processing, automated reconciliation, and cash application to its customers.

Streamlined onboarding and revenue optimisation

In addition to facilitating a quick onboarding process and automating account reconciliation, Ordway selected Exact for its Payment Facilitator-as-a-Service solution (PFaaS). PFaaS provides Ordway with additional revenue from the processing fees collected on its platform while allowing the business to outsource payment back-office functions to the payment experts at Exact, including underwriting, compliance, data security, funding, and customer support.

Ordway enables SaaS, cloud, and other companies with innovative business models to automate their order-to-revenue lifecycles. Finance teams can automate both subscription and usage-based billing, as well as the associated accounts receivable, revenue recognition, and investor KPI reporting for recurring revenue contracts.

New revenue streams with embedded solutions

The new fully-embedded payments solution enables Ordway customers to accept payments using ACH, cards, digital wallets, and real time payments (RTP) channels. Closed-loop integration with Exact Payments provides payment status and collections data that enables automated invoice reconciliation and cash application.

Ordway’s executives said their partnership with Exact Payments has enabled them to move beyond their traditional business model, which was focused on generating SaaS subscription revenues. They have now created a new revenue stream that will help them generate expansion ARR with their customers and boost the company’s Net Dollar Retention.

Officials from Exact Payments said their embedded approach to billing and payments translates to streamlined, automated workflows so that SaaS businesses can focus their resources on more important tasks. Together, they have built a one-stop shop with everything needed to manage payments, and they are excited about the value it offers Ordway’s customers, and the industry at-large.

PFaaS from Exact allows SaaS businesses to fully embed payments into their software platform while generating an additional revenue stream. With PFaaS, software businesses can deliver frictionless payment flows that enhance the customer experience, and in turn, improve customer retention. satisfaction.

What does Ordway do?

Ordway is redefining how growing businesses approach sales-to-finance operations via its billing and revenue automation platform. Built by a team that helped design much of world’s cloud-based financial billing and ERP systems, Ordway modernises the end-to-end sales-to-finance process. It eliminates the need for error-prone spreadsheets and manual accuracy checks during the monthly close process to ensure compliance to GAAP & IFRS.

Designed with the flexibility that today’s customers demand, and optimised to guide organisations during their growth phase, Ordway smartly manages a business’ most complex customers.

More information about Exact Payments

Exact Payments delivers turn-key payment facilitation solutions enabling SaaS businesses to rapidly onboard their clients for processing, instantly activate a variety of payment methods and accelerate revenue through payments. By offering an easy integration process, a one-stop-shop for embedded payments and maximised margins, Exact enables SaaS providers to deliver a better customer experience backed by increased support and deep payments expertise.

Exact is integrated with leading processors in the US and Canada including Fiserv/First Data, Elavon, Global Payments/TSYS, Chase Canada, and Moneris, and processes more than 1 billion transactions and USD 130+ billion in annual payment volume.

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Keywords: payment processing, ERP, digital onboarding, embedded payments, SaaS, payment methods
Categories: Payments & Commerce
Companies: Exact Payments, Ordway
Countries: World
This article is part of category

Payments & Commerce

Exact Payments



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