Deepak BapatCTO / Co-Founder, Tabs · Modernizing Finance for the AI Economy - CTO/Co-Founder @ Tabs

How Statsig scaled to a $1 billion valuation with a one-person finance team

Name: How Statsig scaled to a $1 billion valuation with a one-person finance team
Uploaded: 2025-09-16T07:00:00.000Z
Duration: 1 min 57 s
Channel: Deepak Bapat
Description: In this testimonial, Stephen Prost, Head of Accounting at Statsig, explains how the AI-driven invoicing tool Tabs transformed their billing operations…

16 Sept 2025 · 2 min

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In this testimonial, Stephen Prost, Head of Accounting at Statsig, explains how the AI-driven invoicing tool Tabs transformed their billing operations. Previously, Statsig’s invoicing was a manual, month‑long process that required a larger finance staff. After adopting Tabs, the AI quickly learned to extract contract data from PDFs, generate invoices, handle follow‑ups, and maintain revenue schedules. This automation reduced the monthly billing workload to about two days for a single accountant, saving an estimated $80‑100 K per year in labor costs. It also dramatically improved cash flow: invoices over 30 days past due fell from roughly 50% of accounts receivable to 5%, and aged receivables over 90 days dropped by about 80%. Prost recommends Tabs to other lean SaaS finance teams seeking speed, efficiency, and better cash collection.

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The biggest benefit for me personally since working with Tabs has just been time savings. It saves me so much time being able to just drop these PDFs in and have the invoices ready to be sent out. I am Stephen Prost. I'm the head of accounting here at Statsig. We provide experimentation feature flagging services to software developers. We did our Series C recently at a $1.1 billion valuation with an accounting team of one, and Tabs is a part of our story. Our previous invoicing process was extremely manual, and it just wasn't efficient or scalable. Closing the books using our previous provider, it was taking more than 1 month. The implementation process with Tabs was probably the most surprising thing after I signed up for the tool. It was shocking at how fast Tabs was able to have the AI agent learn where our relevant information sits on our order form. I dropped the PDF of the contract in, it's grabbing all that information, creating the invoice for me, doing the follow-ups, creating the revenue schedule. It tells me when they've paid. It just saves so much time for me. It's probably saved us $80K a year to $100K a year of another accounting professional working on billings, and I can handle it in 2 days on my side every month. Before Tabs, our invoices that were older than 30 days past due were about 50% of our total AR balance. Right now, that's at about 5%. We've seen about an 80% reduction in aged receivables over 90 days, which is huge for us being able to collect cash on time. I would recommend Tabs to any lean SaaS finance teams who are looking to enable their company to move fast, to help their customers out in paying their bills on time, and just making their lives easier.