Your one stop shop for news and information about Klarity.
Documents are at the heart of every workflow. They are the key to gains in efficiency, to better, more effective processes and to improved accuracy. They are the single source of truth for any business. It’s also really tedious and time-intensive to find specific — and critical — information within.
Generative AI | The Future of Accounting Summit
In the face of rising inflation and the risk of recession, the coming New Year brings with it a significant degree of financial uncertainty. In times of economic turmoil, customers have more leverage than they otherwise might. Sales teams trying to hit quotas in a rocky market often have to be more flexible on terms, while customers are more protective of their budget. This is both a reality and necessity for any business as it navigates periods of recession.
Klarity is the leader in automated document review. Our solution has reviewed 20 million contracts for some of the world’s most innovative high-growth companies, and exponentially reduces the need for expensive, painful manual review.
When we at Klarity set out on our course to help Revenue Accountants achieve their contract review goals, we thought long and hard about the full contract review experience. We dedicated our first story on Medium to the problems that accountants are experiencing on a daily, monthly, and quarterly basis and walked through how Klarity can help.
Klarity, the leader in intelligent document processing for Revenue Accounting, Revenue Operations and Order Processing, today announced that longtime industry veteran Rama Krishna Pagadala has joined the company as Vice President of Engineering. Rama, who has built enterprise grade and consumer scale SaaS products including Skype for Business (Microsoft Teams predecessor), Skype for Android, and VR Platform for Enterprises, will lead Klarity’s entire engineering team.
In revenue accounting, we are constantly hearing about “the 5 steps of revenue recognition”. This 5 step process stems from guidance developed by the FASB. Let’s explore the reasoning behind the development of ASC 606 Revenue from Contracts with Customers as well as take a deep dive into the 5 steps and what they mean.
Audit. It’s a scary word in the corporate world, yet every company has to do it. Whether it’s for your public company filing, your investors, or your board of directors, the audit is a critical time where an independent party provides assurance that your management team has presented an independent view of your company’s financial performance and position. Tax, equity, procurement, and general ledger are some of the areas that your auditors will focus on. However, the highest risk area in any audit is revenue. Revenue is the most visible number internally, externally, and to all types of investors and interested parties.
Klarity is a tool that has an AI that reads and automates all your documents. It can check read your contracts or choose the top ten most promising resumes. Join Yuri Kruman as he talks to the founder of Klarity, Andrew Antos about what Klarity offers in legal tech. Learn how Klarity works. And discover how he manages his people and his hiring process.
In this fifth and final installment of our deep-dive into how Klarity works and what it can do for you, we’re going to explore a topic that is critical to every organization — audit trail. At its simplest level, an audit trail is a chronological record that provides evidence of an established, purposeful process within a company’s financial organization. In our case, specifically for revenue recognition and ASC 606 compliance. Generating a clear, complete audit trail is also one of the capabilities that most differentiates Klarity from any other tool available today.
One of the aspects of Klarity’s platform most valued by customers is its robust reporting capabilities. For any company, but especially for high-growth, fast-moving organizations, accurate reporting is a critical part of mitigating risk around compliance and audit processes. Businesses are required to have specific controls in place, and good reporting structure that provides evidence of those controls. It also provides a unique and invaluable perspective into the financial health of an organization.
One of the key technical aspects that makes Klarity such a valuable addition to any organization’s revenue recognition process is the way we connect with existing systems. All organizations have systems that store revenue related documents and data points.
Our exploration of the Klarity platform continues this week with an in-depth look at how we help our customers extract key data.
A few weeks ago our co-founder, Nischal, wrote about the five value pillars on which Klarity is built. The first and most foundational is the unique way in which our technology automates the standard revenue recognition workflows we see across every industry. What’s special about Klarity is that we don’t just simplify your workflow, we remove entire pieces through cutting edge automation.
We are incredibly proud to announce that Klarity has raised $18 million in Series A funding led by Tola Capital, closed at the end of 2021. With Tola’s deep expertise in the Enterprise SaaS space, it is both an honor and advantage to partner with such an incredible, diverse VC firm. We are also thrilled to welcome Sheila Gulati, Managing Director and Founder of Tola Capital, to our Board of Directors.