NEW YORK--(BUSINESS WIRE)--Tabs, an AI-powered billing and financial operations platform for B2B businesses, is today announcing the launch of its Revenue Recognition product, a powerful addition to its platform. This new module transforms the way businesses manage and recognize revenue, ensuring compliance with the latest accounting standards, and providing unparalleled accuracy and efficiency.
Tabs Revenue Recognition automates the complex process of revenue recognition, allowing businesses to seamlessly track and report their revenue in real-time. Key features of the module include:
- Automated contract ingestion: Tabs AI automatically reviews, structures, and indexes contracts directly in the platform
- Standards compliance: Ensure adherence to ASC 606 accounting standards, reducing the risk of non-compliance
- Real-time reporting: Gain instant visibility into revenue performance with real-time analytics and reporting
- Customizable workflows: Adapt the module to fit the unique needs of your business with flexible and customizable workflows
"At Tabs, our mission is to simplify financial processes for growing businesses," said Ali Hussein, Co-founder and CEO. "Over the past few months since our launch we’ve heard loud and clear from the market that Revenue Recognition is a mission-critical capability. We are confident that adding these new capabilities to our platform will empower our clients to manage their revenue more effectively and efficiently."
Initial adopters of the Revenue Recognition module have already reported significant improvements in their financial operations. Matthew Horne, CFO at Insite AI, shared, "The new Revenue Recognition feature, especially the revenue waterfall, has streamlined our revenue reporting process. Previously, this was a manual and time-consuming task. Now, by simply uploading contracts to Tabs, we gain accurate and timely insights into our monthly revenue numbers, in addition to having automated billing. This module improves our investor reporting and saves us countless hours, significantly boosting our financial reporting capabilities."
About Tabs
Tabs is an AI-powered billing and financial operations platform for B2B businesses. Using the power of AI, Tabs is able to understand and extract elements from even the most complex B2B contracts and then power an automated AR process from contract-to-cash. Growing B2B businesses use Tabs to improve cash flows, streamline operations, and increase business model flexibility. Tabs is based in New York and is funded by top-tier VCs Lightspeed and Primary Ventures. Learn more at tabs.inc.
