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What is Klarity?

The manual examination of customer contracts to assess their impact on revenue accounting can be both lengthy and arduous. Accountants often find themselves dedicating numerous hours to generate and fill out new contract review lists, which include essential details like metadata, dates, fees, and atypical terms. This significant investment of time could instead be allocated towards enhancing innovative processes. Klarity steps in to streamline this entire procedure by automating it. The platform automatically generates a checklist for the thorough review of all contracts, incorporating every tool needed for contract assessment and delivering notifications, accounting implications, annotations, along with an automated workflow. By utilizing Klarity, organizations can redirect their efforts toward creating strategic value, emphasizing analysis and audit documentation instead of getting bogged down in monotonous manual tasks. For a more efficient contract review experience and an expedited month-end closing, users can set up tailored workflows for both first- and second-level reviewers, ultimately enhancing productivity and accuracy in the process. This not only saves time but also ensures that teams can focus on more critical aspects of their operations.

What is Diligen?

Achieve a deep understanding of your contracts by identifying key clauses, generating summaries, and supporting your team’s review workflow with sophisticated machine learning techniques. Diligen is employed worldwide, serving everyone from small legal teams to large Fortune 15 companies, making the contract review process faster, more efficient, and budget-friendly. Its impressive scalability allows for the management of anywhere between 50 and 500,000 contracts effortlessly. From the very first day, users gain access to numerous pre-trained clause models and have the option to swiftly customize Diligen to identify new concepts. The platform features a flexible and intuitive interface that can be adapted to meet your specific needs. When compared to other solutions in the market, it stands out with its exceptional performance. You can assign contracts to team members, foster collaboration, and manage the review process with ease. Moreover, training the system to detect new clauses or ideas is a simple task, and it can generate contract summaries in formats such as Word or Excel automatically. Additionally, contracts can be sorted based on various parameters including name, date, parties involved, or specific clauses, ensuring that a multitude of important clauses are promptly recognized and emphasized for your benefit. This thorough strategy for managing contracts greatly boosts both efficiency and precision, ultimately transforming the way legal teams operate. The time saved through this process allows teams to focus on more strategic tasks, further enhancing their overall productivity.

Media

Media

Integrations Supported

Amazon WorkDocs
NetSuite
Oracle Fusion Cloud ERP
SAP ERP
Salesforce
Workday Financial Management

Integrations Supported

Box
Clio
Epiq Discovery
Microsoft Excel
Microsoft Word
NetDocuments

API Availability

API Availability

Pricing Information

Pricing not provided

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS

Customer Service / Support

Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Not specified

Training Options

Documentation Hub
Online Training
On-Site Training

Company Facts

Organization Name

Klarity

Date Founded

2017

Company Location

United States

Company Website

www.tryklarity.com

Company Facts

Organization Name

Diligen

Company Location

Canada

Company Website

www.diligen.com

Categories and Features

AI Accounting

Not specified

AI Contract Review

Not specified

AI Legal

Not specified

Contract Analysis

Not specified

Data Extraction

Not specified

Categories and Features

AI Contract Review

Not specified

AI Legal

Not specified

Contract Analysis

Not specified

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