Having inadequate renewals management processes and systems could lead to lost revenue, customer dissatisfaction, and potentially, customer churn. Finding a systematic way to manage renewals to avoid these pitfalls is key to making your customers happy, and growing revenue for your business. Your company has worked extremely hard to get…

The beginning of Klarity’s AI journey was simple. Manually reading and understanding lengthy contracts and numerous order forms was an arduous and error-prone process that was historically performed exclusively by highly educated individuals. To us at Klarity, making bright people endlessly review contracts is a waste of human potential. Fortunately…

How to design the best product for revenue accounting teams — 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…

Contracts with customers at enterprise software companies follow a very specific pattern from requesting drafting of a contract to approval by both parties to document storage and potentially re-negotiation. Because revenue accounting can be directly impacted by non-standard contract terms, the revenue team is involved in most steps of contract…

Our series on non-standard contract terms that could potentially impact your revenue recognition and accounting brings us to non-standard billing and / or payment terms. …

Variable consideration as a term is self-explanatory; any consideration that has a variable component whether stated or implied in the contract. Practical application of this definition is not as straight forward. Variable consideration can come in many forms such as discounts, rebates, price concessions, refunds, rights of return, and so…

Automating the Review of Contracts for ASC 606 RevRec — We’re a lean finance department, so our revenue team needs to be super efficient at what they do. We’re fortunate to have brought on Klarity to help streamline our revenue processes. Sean Deorsey, Chief Financial Officer Executive Summary Optimizely built the leading progressive delivery and experimentation platform enabling thousands of…

People all over the world are learning now to navigate the new normal while mired by uncertain times, volatile market conditions, and a sudden movement to remote work. …

Our series of analyzing non-standard contract terms for revenue impact brings us to early cancellation rights. Early cancellation can come in many forms including termination for convenience which we focused on in our post on June 19th. Giving a customer the right to cancel the contract can also be fore…