How Thumbtack Improved Revenue Recognition and Cut DSO 40% with Paystand

Thumbtack is a home management platform that helps people care for their homes from top to bottom and empowers small businesses nationwide to grow. With more than 1,000 employees and 200,000 professionals on the platform, Thumbtack handles numerous transactions every day, so its accounting processes need to run cleanly.

As Thumbtack prepared for its IPO, the finance team set out to improve its accounts receivable process. Collecting payments had become tedious. The team had a process outlined, but extra, unnecessary steps slowed time to cash and held back growth because the process wasn't built to scale.

The root of the problem was the gap between systems. Thumbtack ran NetSuite as its primary ERP, but its billing system, Bill.com, could only sync it with customer information. Invoices and payment data had to be logged twice, which created duplicate records, data discrepancies between the two platforms, and limited visibility into real-time payment status and cash flow.

Every manual reconciliation between the two systems was another chance for error. To support its growth and IPO readiness, Thumbtack needed a solution that fully synced with NetSuite, eliminated unnecessary manual tasks, reduced duplication, and streamlined payment operations.

After reviewing many potential solutions, Thumbtack's finance team selected Paystand as its AR automation tool. What set Paystand apart was where it lives. Unlike many alternatives, Paystand functions entirely within NetSuite, which eliminated the need for separate AR programs or complicated and unreliable APIs.

With payments recorded where the books already live, the double entry that fed duplicate invoices and data discrepancies went away. Automated payment reconciliation took over work the team had been doing by hand, and real-time payment updates and analytics gave finance a current view of cash. That visibility made forecasting and budgeting cash flow easier and freed the team to focus on its biggest priority: improved revenue recognition.

Thumbtack's customers got an upgrade, too. A branded, self-service payment portal lets them choose how to pay, whether by bank wire, ACH, or credit card.