Our investment in Tab Commerce
We are excited to announce that Matchstick Ventures Fund III has completed an investment in Tab Commerce. Tab Commerce is an intelligent expense control software designed to maximize restaurant profitability.
Restaurant operators continuously manage hundreds of thousands, sometimes even millions, of dollars annually in expenses across a highly fragmented and diverse base of vendors and suppliers. Each of these vendors and suppliers has their own unique invoicing and payments workflows, making the management of the process even more manual and scattered.
Despite the challenges, the data that is available to restaurant managers through the expense process is highly valuable. However, managers are often forced to spend their time organizing and analyzing it. The average restaurant operator spends at least 25 hours a week at a desk in this effort and may still incur thousands of dollars in excess costs each year, because the process remains mostly manual.
With restaurants now facing significant cost inflation, labor shortages, economic uncertainty, and more, solving the problems of expense management is even more critical to the survival of many establishments.
Tab Commerce's software captures, consolidates and standardizes every expense a restaurant has directly from the source, such as invoices, receipts, payroll systems, and more. Restaurants have a single source of truth for every dollar that goes out their door with minimal to no work needed to input it into the system. Managers can then access real-time data analytics and tap into powerful purchasing insights to make more informed decisions and save thousands of dollars per year.
Furthermore, Tab also allows restaurant managers to pay invoices and search for rebates and cheaper prices directly from their system.
Tab estimates their software eliminates 85% of manual deskwork for restaurant managers while saving them $2,000 a month with a 5x ROI.
Matchstick was introduced to Tab Commerce through Mucker Labs and was very impressed by their founders' ability to execute and deliver their product in a thoughtful, efficient, and fast manner.
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