Klarity Brings GPT-4 and Large Language Models to Finance, with Upgraded Platform for Validating and Summarizing Order, Contract and Revenue Data

Platform helps validate critical financial data from Salesforce.com and other enterprise CRM/ERP systems

Klarity, which offers the first solution for automatically validating order, b****** and revenue data, announced 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, b****** 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.

Recommended AI News: Synthesis AI Enhances Synthetic Data Capabilities to Support Advanced DMS, OMS, and ADAS Development

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, b****** 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.

Recommended AI News: Telxius Boosts its DDoS Mitigation Capacity with New Scrubbing Centers in Latin America

“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.

Recommended AI News: Eyeris and OMNIVISION Partner on Industry’s First In-cabin Monocular 3D Sensing AI Solution

[To share your insights with us, please write to sghosh@martechseries.com]