Case Study: Optimizely achieves 3x faster ASC 606 contract reviews for 300+ contracts per quarter with Klarity

Automating the Review of Contracts for ASC 606 RevRec

Optimizely, a global software company that provides a progressive delivery and experimentation platform, faced an increasingly heavy ASC 606 revenue recognition burden as its sales volume grew. Their small revenue accounting team had to manually review hundreds of newly signed Master Service Agreements, Order Forms, SOWs and SLAs each month to populate a non-standard terms checklist, a slow, error-prone workflow that threatened compliance and efficiency. Optimizely engaged Klarity to address this challenge.

Klarity deployed its workflow management software and AI to automatically pull contracts, extract metadata and clauses, and pre-populate Optimizely’s custom non-standard terms checklist, while tracking and storing documentation and reviewer comments. The Klarity solution enabled the team to review 342 contracts in a quarter—about 3x faster than the prior manual process—reducing manual effort, improving completeness, and freeing the revenue recognition manager to focus on higher-value work.

Optimizely

Barrett Wilkowski

Revenue Recognition Manager