The Klarity Blog

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.