Today, Klarity announced that it is now using GPT-4 (the machine learning model powering ChatGPT) as the foundation of its platform, giving customers much more flexibility as they automate labor-intensive order management, billing, and revenue workflows. Klarity offers the first solution for automatically validating order, billing, and revenue data. In particular, Klarity uses GPT-4 to normalise data, extract data from unstructured documents (PDF, tables, language, metadata), and match data between documents and platforms like salesforce.com. The product from Klarity automates business workflow using a no-code checklist, converts documents into structured data, and integrates with current GTM and ERP systems. For instance, Klarity may automatically fill an invoicing system with the payment terms from a PDF contract. Order management, billing, and revenue recognition reviews are tasks that, in the past, have been manually carried out by sizable teams of analysts who confirm the accuracy and completeness of data between systems and documents before populating extensive revenue checklists. Klarity makes these tasks easier. What a human analyst would need days to complete, Klarity can complete in a matter of minutes.
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Previously, Klarity created document summaries for its finance and accounting teams using its own unique AI models. These summaries drew out high-level information including licenced products, payment terms, addresses, and non-standard language. Presently, Klarity is integrating GPT-4 throughout their platform. Customers will be able to quickly build up new extraction fields thanks to this, and intelligent comparison capabilities powered by AI will be available for comparing important things such 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.”
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