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- Tabs Launches AI-Powered Revenue Recognition Product for B2B Businesses
Tabs Launches AI-Powered Revenue Recognition Product for B2B Businesses
Slice of Finance Team
04 Jul
Key Highlights:
Automated contract ingestion: Tabs AI reviews, structures, and indexes contracts directly.
Standards compliance: Adheres to ASC 606 accounting standards.
Real-time reporting: Provides instant visibility into revenue performance.
Customizable workflows: Adapts to unique business needs.
Source (Business Wire)
Notable Quotes:
"At Tabs, our mission is to simplify financial processes for growing businesses. 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."
"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."
Our Take:
Tabs’ new Revenue Recognition product marks a significant advancement in financial operations for B2B businesses. By leveraging AI, Tabs not only automates the traditionally complex process of revenue recognition but also ensures compliance with ASC 606 standards. This innovation brings real-time analytics, customizable workflows, and seamless contract ingestion, offering businesses a comprehensive solution to enhance their revenue management. Initial feedback from users like Insite AI highlights the product's effectiveness in improving financial reporting accuracy and efficiency. This launch positions Tabs as a pivotal player in the AI-driven financial operations landscape.