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September 21, 2022
Streamlining Contract Review Through A Risk Based Approach
Case Study
The
Klarity Advantage:
Who we are, what we do,and why it matters
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.
The
Klarity Advantage:
Who we are, what we do,and why it matters
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.
The
Klarity Advantage:
Who we are, what we do,and why it matters
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.
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Why customers choose Klarity
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More Contracts, More Quickly, More Accurately
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Review thousands of documents with higher accuracy than a human
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Assess all documents comprising a transaction
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Reads, understands, and learns how to keep you compliant
Where we are now
At Klarity, we use cutting edge technology and the world’s most accurate document review AI models to address a core operational challenge experienced by just about every company in existence — manual document review and management. Today, the vast majority of these companies simply don’t know there’s a technology-driven solution that can eliminate up to 85 percent of the human work. It’s a solution that’s not only more accurate, but one that vastly improves the working lives of the highly skilled financial accountants on the hook for most of that laborious review.
The way we help our customers is represented by five key pillars:
Automate workflows
Today, there’s a double digit set of steps accounting teams have to go through to identify non-standard terms within important documents, like a PO, order form or customer contract. Klarity automates the entire workflow to condense that process down to a single step. We’re not just trying to make the workflow faster, we eliminate significant chunks of the workflow and, sometimes, entire workflows.
Extract key data
Because the contract is the only source of truth, everything else is secondary to the information it contains. Klarity finds the most important details within a document for you — data that would otherwise be time consuming and difficult to find — while identifying details of significance for specific workflows to continuously improve on them long-term.
Connect your tools
We support a wide array of integrations, both inbound (how we get external data into the system) and outbound (how we push that data to other destinations). The way we process documents is entirely agnostic of the system from which they came, or where they’re headed. There are no hard coded dependencies that restrict our ability to ingest or send data. That means no extra steps for customers, and a quick deployment that allows us to deliver immediate value.
Enable reporting
Reporting is critical to the processes of compliance and audit. Businesses are required to provide evidence that they have specific controls in place. Reporting also provides a unique perspective on the financial health of your company. Because Klarity replaces customer documents as the single source of truth, we’re best positioned to report this data back to our customers. They can splice it any way they want to generate analytics, graphics and artifacts for downstream consumption.
Generate audit trail
Similarly, businesses need proof that whatever controls they have in place are working properly. This is where Klarity’s audit trail capabilities shine. We know it’s not just the outcome that matters, but that process was followed. We evaluate that process in its entirety, whether that be a successfully reviewed deal or a completed action.
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Because the contract is the only source of truth, everything else is secondary to the information it contains
Nischal Nadhamuni
CTO and co-founder, Klarity
Where we’re going
Over the next several months, we’ll dive deeper into what each of these challenges look like for accounting teams day-to-day, and how Klarity helps. We’ll get granular on the tech that drives our platform and enables vastly better results for customers, and talk about what implementation looks like for end users.
Klarity doesn’t simply see documents as a black box, but instead gets inside and truly understands what makes them so important. We’re ready to show you how.
Life at Klarity
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