Case Study: TIBCO achieves ASC 606 compliance and saves 6,300+ hours automating 12,600+ contract reviews with Klarity

Automating the review of 12,600+ contracts for ASC 606 compliance

TIBCO, a global enterprise software company, needed to review more than 12,600 legacy revenue contracts, amendments, and work orders to find 16 rare clauses required for ASC 606 compliance. Their existing AI tools couldn’t cope with the scarcity of training samples or with linking multiple amended documents, so TIBCO engaged Klarity’s contract-review solution to automate clause and metadata extraction and consolidation.

Klarity extracted custom metadata and ASC 606‑relevant clauses, linked contracts to their amendments, and produced consolidated final versions across 12,600+ agreements after about two hours of onboarding. The project eliminated roughly 6,300+ hours of manual review, identified non‑standard clauses in 13.85% of contracts, and enabled TIBCO to achieve ASC 606 compliance with minimal internal effort.

TIBCO