The company’s AI-native platform automates the contract-to-cash cycle, enabling faster invoicing, automated collections, real-time revenue recognition and faster month-end close, according to a Tuesday (Sept. 16) press release.

Founded in 2023, Tabs now serves more than 200 customers and automates over $500 million in annual invoice volume, the release said.

The most recent additions to the platform are two AI agents: billing agents that sync with the user’s customer relationship management (CRM) and enterprise resource planning (ERP) systems, read contracts, and create and send invoices; and collections agents that monitor due dates and automatically match and reconcile payments, per the release.

“Revenue in is the hardest and most valuable workflow in the enterprise, yet finance teams are still stuck with legacy ERPs,” Tabs CEO and co-founder Ali Hussain said in the release. “Tabs is bringing modern AI agents to the CFO’s office, starting with billing, complex enterprise contract management and collections, so companies can collect cash faster and reduce time spent on manual work.”

Justin Overdorff, partner at Lightspeed Venture Partners, which led the funding round, said in the release that Tabs is “eliminating manual processes that have plagued revenue workflows for decades.”

“The team has combined deep finance expertise with purpose-built AI agents for revenue processing and tracking, and the rapid customer adoption we’re seeing validates just how ready the market is for this transformation,” Overdorff said.

Tabs raised $25 million in Series A funding in October 2024 and $7 million in seed funding in April 2024.

In June 2024, the company added a revenue recognition capability to its platform, saying this module helps businesses manage and recognize revenue, ensure compliance with accounting standards, and improve accuracy and efficiency.

The PYMNTS Intelligence report “Window of Opportunity: Gaining AR Transparency Through Automation” found that when companies adopt digital and automated accounts receivable processes, they can close visibility gaps and build stronger relationships with suppliers and customers.

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The Pentagon is angling to introduce artificial intelligence across its workforce within nine months following the reorganization of its key AI office.

Emil Michael, under secretary of defense for research and engineering at the Department of Defense, talked about the agency’s plans for introducing AI to its operations as it continues its modernization journey. 

“We want to have an AI capability on every desktop — 3 million desktops — in six or nine months,” Michael said during a Politico event on Tuesday. “We want to have it focus on applications for corporate use cases like efficiency, like you would use in your own company … for intelligence and for warfighting.”

This announcement follows the recent shakeups and restructuring of the Pentagon’s main artificial intelligence office. A senior defense official said the Chief Digital and Artificial Intelligence Office will serve as a new addition to the department’s research portfolio.

Michael also said he is “excited” about the restructured CDAO, adding that its new role will pivot to a focus on research that is similar to the Defense Advanced Research Projects Agency and Missile Defense Agency. This change is intended to enhance research and engineering priorities that will help advance AI for use by the armed forces and not take agency focus away from AI deployment and innovation.

“To add AI to that portfolio means it gets a lot of muscle to it,” he said. “So I’m spending at least a third of my time –– maybe half –– rethinking how the AI deployment strategy is going to be at DOD.”

Applications coming out of the CDAO and related agencies will then be tailored to corporate workloads, such as efficiency-related work, according to Michael, along with intelligence and warfighting needs.

The Pentagon first stood up the CDAO and brought on its first chief digital and artificial intelligence officer in 2022 to advance the agency’s AI efforts.

The restructuring of the CDAO this year garnered attention due to its pivotal role in investigating the defense applications of emerging technologies and defense acquisition activities. Job cuts within the office added another layer of concern, with reports estimating a 60% reduction in the CDAO workforce.

The Pentagon aims to get AI tools to its entire workforce next year, the department’s chief technical officer said one month after being given control of its main AI office.

“We want to have an AI capability on every desktop — 3 million desktops — in six or nine months,” Emil Michael, defense undersecretary for research and engineering, said at a Politico event on Tuesday. “We want to have it focus on applications for corporate use cases like efficiency, like you would use in your own company…for intelligence and for warfighting.”

Four weeks ago, the Chief Digital and Artificial Intelligence Office was demoted from reporting to Deputy Defense Secretary Stephen Feinberg to Michael, a subordinate.

Michael said CDAO will become a research body like the Defense Advanced Research Projects Agency and Missile Defense Agency. He said the change is meant to boost research and engineering into AI for the military, but not reduce its efforts to deploy AI and make innovations.

“To add AI to that portfolio means it gets a lot of muscle to it,” he said. “So I’m spending at least a third of my time—maybe half—rethinking how the AI-deployment strategy is going to be at DOD.”

He said applications would emerge from the CDAO and related agencies that will be tailored to corporate workloads.

The Pentagon created the CDAO in 2022 to advance the agency’s AI efforts and look into defense applications for emerging technologies. The office’s restructuring earlier this year garnered attention. Job cuts within the office added another layer of concern, with reports estimating a 60% reduction in the CDAO workforce.