Cortex automates billing, revenue recognition & collections with Tabs

About Cortex

Cortex is the leading platform for engineering excellence, empowering the world’s top engineering teams to scale efficiently and deliver high-quality software with confidence. As the company scaled, its finance team faced increasing challenges in managing billing, revenue recognition, and collections with limited resources. Cortex needed an automated solution to reduce manual workload and improve accuracy, leading them to adopt Tabs.

Life Before Tabs

Before implementing Tabs, Cortex relied on spreadsheets to track contracts and revenue, creating inefficiencies that slowed operations. With a single-person finance team, managing billing manually was unsustainable. Key challenges included:

• Time-intensive processes: Revenue recognition workflows required weeks to months of manual effort, working in different systems, and maintaining accurate data. 
• High costs: Implementing various point solutions to manage different AR workflows was prohibitively expensive and often required additional hires to manage them.
• Limited resources: Without a dedicated billing or revenue team, efficiency and accuracy were critical but difficult to achieve.

“Revenue used to take weeks, and maintaining schedules could take months. We needed a tool to streamline everything but struggled to find the right fit.” — Nima Motiee, Financial Controller at Cortex

Why Tabs?

Cortex discovered Tabs while searching for an automated solution that fit all of their requirements, not just a one point solution. Unlike other platforms, Tabs offered:

• Comprehensive capabilities: Tabs handled billing, revenue recognition, and collections in a single platform in significantly less time. 
• Ease of use: The ability to drag-and-drop contracts into Tabs simplified processes and made it easier to get all the information in one place. 
• Cost efficiency: Tabs eliminated the need for additional finance hires, reducing operational expenses. 

Life With Tabs

After Cortex implemented Tabs, the company saw a shift in its financial processes, one that fundamentally improved the way it operated. What once took weeks or even months to complete became days. Tasks that had been time-consuming and prone to delays were now accomplished in a fraction of the time, freeing up valuable resources and enabling the team to focus on more strategic initiatives.

Tabs brought an added layer of precision to Cortex’s operations. Tabs' ability to ingest, read and process contracts ensured that invoicing and revenue recognition were not only automated but also accurate - something that had previously been a challenge. This reduced the risk of errors and enhanced their financial reporting.

Collections management also saw significant improvement. With Tabs, Cortex could now track and manage collections in one place. Key information was consolidated, making it easier to stay on top of outstanding payments and improve cash flow.

Perhaps the most impactful result was the cost savings. By automating revenue and billing processes with one single tool, Cortex was able to maintain operational efficiency without the need to hire additional staff. This led to significant cost savings, reinforcing the value that Tabs brought to the Cortex team.

In the end, Tabs didn’t just change the way Cortex managed its financial operations, it transformed the entire approach to efficiency, accuracy, and cost management, contributing to the company’s growth and financial health.

“Tabs is doing everything that needs to be done in this space at a low cost. For teams like ours, it’s filling a void that no one else has.” — Nima Motiee

The Tabs Partnership

As an early customer, Cortex played a role in shaping the Tabs product. Nima worked closely with the Tabs team to refine features, integrate with QuickBooks Online, and ensure a smooth implementation. Tabs’ responsiveness and willingness to adapt to Cortex’s needs strengthened the partnership.

“The Tabs team prioritized our input and worked through challenges to deliver a product that fit our needs. It’s been a learning process for everyone, but Tabs has been transformative.” — Nima Motiee

Looking Ahead

With Tabs in place, Cortex is well-equipped to handle billing, revenue, and collections efficiently, without the need for additional headcount in this area. As Cortex continues to grow, Tabs will evolve alongside its needs, ensuring continued efficiency and automation in financial operations.