How Thumbtack Reduced Their DSO by 40%

Thumbtack’s Challenge: Streamlining AR for IPO Success

As Thumbtack prepared for its IPO, the finance team faced significant challenges in their accounts receivable (AR) processes. Although they used NetSuite as their primary ERP, their billing system, Bill.com, only partially integrated, leading to:

• Duplicate invoices and data discrepancies
• Inefficient, manual processes prone to errors
• Limited visibility into real-time payment status and cash flow

To support their growth and IPO readiness, Thumbtack needed a solution that fully integrated with NetSuite, eliminating these inefficiencies and enabling better revenue recognition.

The Benefits of Paystand’s Solution

• 40% Reduction in Days Sales Outstanding (DSO): Faster payments and real-time updates keep Thumbtack’s cash flow on track.
• Significant Cost Savings: Write-offs were drastically reduced by 98.75%, from $20,000 to just $250.
• Time Efficiency: Automated AR processes have saved the team 28 hours per month, allowing them to focus on strategic priorities.
• Enhanced Customer Experience: The self-service, branded payment portal gives customers a choice of payment methods, including bank wires, ACH, and credit cards, improving convenience and satisfaction.

“Whether it's bank wires, ACH, or credit card, our customers love having multiple payment options,” says Chad. “Paystand has just been incredible to work with.”