SAN FRANCISCO, March 15, 2023 (GLOBE NEWSWIRE) -- Klarity, which offers the first solution for automatically validating order, billing and revenue data, announced today that it’s now leveraging GPT-4 (the machine learning model powering ChatGPT) as the underpinning of its platform, giving customers much more flexibility as they automate labor intensive order management, billing and revenue workflows. Specifically, Klarity is using GPT-4 to extract data from unstructured documents (PDF, tables, language, metadata), normalize the data, and match data between documents and systems like salesforce.com.
Klarity’s product connects to existing GTM and ERP systems, turns documents into structured data, and automates business workflow through a no-code checklist. For instance, Klarity can extract the payment terms in a PDF contract and automatically populate them into an invoicing system. Klarity helps ease order management, billing and revenue recognition reviews - processes that have traditionally been performed manually by large teams of analysts who reconcile data between systems and documents for accuracy and completeness and then populate long revenue checklists. Klarity can do in minutes what it takes a human analyst days to perform.
Previously, Klarity used its own custom AI models to create document summaries for finance and accounting teams that pulled out high-level details such as licensed products, payment terms, addresses and non-standard language. Now, Klarity is embedding GPT-4 across its platform. This will give customers the ability to instantly set up new extraction fields within minutes, and provide AI-enabled intelligent comparison capabilities for matching key entities like party names, dates, addresses and tables.
“Within weeks of the GPT-3.5 launch, our ML team found it could be layered on Klarity’s existing platform to perform highly accurate document extractions and entity matching, with unprecedented setup speed and configuration flexibility,” said Nischal Nadhamuni, Co-founder and CTO at Klarity. “ChatGPT will transform many areas of businesses, and with our platform upgrade to GPT-4, Klarity is the first to bring it to the financial and accounting realm.”
Beginning in April, all new Klarity customers will experience Klarity’s GPT-4-driven platform, and existing customers will be offered migration options. For a demo or more detail on Klarity’s new platform, visit demo.tryklarity.com.
About Klarity
Klarity offers the first solution for automatically validating order, billing and revenue data to help mid-market and enterprise users increase efficiency and ensure compliance. Klarity automates processes such as order, billing and revenue validation that have traditionally been performed manually by large teams of analysts who reconcile data between systems and documents for accuracy and completeness and then populate long revenue checklists. Some of the world’s most innovative companies, including Coupa, UiPath and Zscaler, rely on Klarity to speed up order management, billing and invoice validation, and revenue recognition (ASC606) compliance. Learn more at tryklarity.com.
Media contact:
Michelle Faulkner
Big Swing
617-510-6998
michelle@big-swing.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3daf2b16-fbd3-4e97-ad06-a02f69a9b794
