Messari + Tabs = streamlined AR powered by AI

Key Takeaways

Flexibility for Complex Contracts and Pricing Models

As Messari's business expands and evolves, Tabs' adaptable platform ensures smooth handling of complex contract structures without any manual work.

Integration with Key Systems Enhances Efficiency

Tabs' integrations with existing systems like Avalara further streamlines Messari's invoicing process by automating tasks such as calculating sales tax. 

Improved Invoicing Accuracy and Oversight

Tabs tracks and audits the status of every invoice. This gives Messari the confidence that each invoice is accurate and ensures contracted revenue is collected promptly.

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Founded in 2018, Messari is a leading provider of market intelligence products that help professionals navigate the crypto landscape with confidence. The New York-based team provides both individuals and institutions with analysis, data, news, and tools to improve industry transparency and enable more participation in digital assets and Web3.

The Challenge

Messari had numerous contracts that were billed on either a quarterly basis or based on deliverables. The finance team’s existing process for calculating and sending those invoices was manual and time-consuming. Each month the team spent hours cross-referencing multiple data sources, including PDF versions of contracts, Netsuite, and other internal systems, to reconcile and ensure accurate billing at the end of the quarter.

Because the team was relying on spreadsheets to track each invoice and its billing status, they knew they had an increased risk of inaccuracies. Any inaccuracy could lead to delays in invoicing and, as a result, delays in collecting cash. Without a single source of truth for invoicing and receivables, the finance team was also concerned about the possibility of missing billings and leaving contracted revenue uncollected.

For Parthey Thakkar and Shane Vogt on the finance and operations team, automating this inefficient process would free up time to focus on strategic tasks and provide peace of mind. Their Accounts Payable process was already highly automated. Now they needed a comparable Accounts Receivable solution that could streamline their complex process as they scaled.

The Solution

The team at Messari initially decided to work with Tabs because of the platform’s ability to completely automate their receivables process. All that the Messari team needs to do is email a contract to Tabs and the platform’s AI reads the contract and extracts all key invoicing and timeline details. The Tabs platform is able to handle both regular quarterly and deliverable-based invoicing, and has the flexibility to handle future contract formats as Messari’s business continues to expand and evolve.

"Tabs is a game changer for our AR operations, replacing manual processes by effortlessly ingesting contracts and generating future invoices. This frees us up from the tedious task of having to manually create sales orders and invoices in Netsuite." 

With Tabs, Parthey and Shane can do less manual entry and reconciliation, significantly cutting down the time spent each month on preparing invoices. Tabs’ integrations with key systems like Avalara further streamline the process by reducing manual work associated with calculating sales tax and other tasks. Now the team has increased confidence in the accuracy of each invoice and can easily audit the status and details of every invoice in a single platform.

Looking ahead, Messari is excited to continue to scale their operations with Tabs as a foundational tool to support their financial management. With new integrations and features being continuously released in the Tabs platform, each quarter they are able to become even more efficient.

Impact

• Saved time on manual invoice calculation and reconciliation
• Improved invoice accuracy
• Increase in invoices sent on time