Ordo was founded in 2018 by the former leadership team of Faster Payments and their mission is to enable people and businesses to feel more in control of their finances. Ordo means reduced costs, immediate money transfer, automatically reconciled payments, improved invoice security, and happy customers.
Outdated manual processes
Ordo recognised that sending and receiving payments was a lot more complicated than it needed to be, resulting in business owners struggling with time consuming reconciliations, and spending nearly 10 hours every week on payments administration.
Exposure to invoice fraud
In 2019 alone, £114.1m was lost to invoice fraud. Businesses emailing their invoices to customers are exposing themselves and their clients to fraud which results in innocent victims at both ends of the payment: the client who has unknowingly paid a fraudster, and the legitimate business out of pocket.
Cash flow issues
Clunky, manual payments and invoicing processes together with the days spent waiting for card processor payments to clear wreak havoc on a business's cash flow - something they simply can’t afford, especially at times of crisis like now.
Automatically reconcile your invoices
Via Codat, Ordo enables customers to pull invoices directly from their accounting system and credits all payments received directly to their bank account, giving businesses the time back to focus on running their company.
Send invoices securely
Ordo’s customers can now easily link their receivables ledger from their accounting software. Invoices are sent securely and Ordo tells the payer who they’re going to be paying before they pay, giving the end customer peace of mind.
Get paid instantly
Business owners can get paid immediately with Ordo, using Open Banking and Faster Payments. There’s no need to wait for card and payment processor payments to clear any more – funds are now available to spend the moment the customer pays.
“With Ordo, there’s a new business normal that sees the business winning, with improved cash flow, lower costs, and service that makes it easy for their customers too. The world is full of instant on-the-go solutions with real-time notifications and updates with multiple platforms, it’s time payments caught up with this, and by partnering with Codat and linking businesses with QuickBooks, Sage and Xero, we can make even more business lives easier. ”
Director and Co-Founder