Finance teams are going through a lot of change: as we see it, there’s a major shortage of accounting professionals in the United States, remote work is making coordination more complex, companies are having ever greater permutations of pricing schemes (which increases complexity for the finance org), and the number of stakeholders touching everything from revenue to expenses is increasing. We believe this is putting an ever greater amount of stress on the finance organization at many companies. To cope, forward-thinking teams are increasingly relying on technology to automate much of this work, allowing them to focus on bigger picture tasks.

This push for efficiency has led to the emergence of new solutions spanning expense management, payroll, and bill pay. We have been fortunate to support leading companies in these categories and witness this powerful trend first hand at General Catalyst. While these finance workflows have seen significant advancements, the one critical workflow that has seen less innovation in our view is the revenue process. We believe this is because revenue relies on various forms of unstructured data siloed in different systems. The advent of LLMs has enabled a new opportunity to leverage this data and finally unlock automation, allowing finance teams to focus on more strategic work. This is why we are excited to announce we are leading a Series A investment in Tabs.

We believe Tabs is going to be a critical part of the transformation of the finance stack. Our excitement starts first and foremost with Ali and Deepak. They experienced the challenge firsthand of managing the revenue process while building Latch, so they set off to build Tabs as a way to solve these challenges. We’ve been blown away by their product velocity and customer centricity. In less than two years since launch, Tabs has built the beginnings of what we think is an impressive multi-product platform that provides a flexible, automated revenue process for the finance team.

The product journey begins with the contract as it’s the source of truth between a company and its customers. Tabs extracts key terms from the contract and augments it with contextual information on the customer from different systems and employees to create a “Commercial Graph” encompassing all the relevant data between a company and its customers. 

This “Commercial Graph” unlocks a number of critical workflows starting with contract-to-cash. Tabs connects into a company’s commercial contract database (e.g., Salesforce, Docusign) to build finance-specific customer records that can cater to any billing term and schedule. From there, the system builds B2B invoices and automates collections, customizing communication with relevant information such as an upcoming renewal or issues with the product. Finally it reconciles the transaction in the ERP. This revenue related process alone has the potential to dramatically increase efficiency within the finance team and increase cash flow. 

Leveraging this deep knowledge of its customers’ commercial relationships, Tabs is building a suite of products for the finance team. Already the company provides granular cash flow forecasting, revenue recognition, and renewal management. These products not only increase efficiency but also provide valuable insights and drive incremental revenue. There’s more to come. 

If you’re a B2B business looking to put your revenue lifecycle on autopilot, you should use Tabs. The customers we’ve talked to are constantly delighted by the experience and new capabilities. We are excited to welcome Ali, Deepak, and the entire Tabs team to the GC Famiglia.