For a mid-size company with significant growth potential, ASC 606 compliance can be costly and challenging. For Optimizely, this meant an ever increasing number of sales contracts and order forms that needed to be appropriately reviewed to recognize revenue under ASC 606 guidelines.
Optimizely struggled with a lengthy, manual contract review process resulting in organizational inefficiencies as they lacked a centralized workflow that could help ensure completeness in the review process and compliance with accounting standards.
For a mid-size company with significant growth potential, ASC 606 compliance can be costly and challenging. For Optimizely, this meant an ever increasing number of sales contracts and order forms that needed to be appropriately reviewed to recognize revenue under ASC 606 guidelines.
Optimizely struggled with a lengthy, manual contract review process resulting in organizational inefficiencies as they lacked a centralized workflow that could help ensure completeness in the review process and compliance with accounting standards.
For a mid-size company with significant growth potential, ASC 606 compliance can be costly and challenging. For Optimizely, this meant an ever increasing number of sales contracts and order forms that needed to be appropriately reviewed to recognize revenue under ASC 606 guidelines.
Optimizely struggled with a lengthy, manual contract review process resulting in organizational inefficiencies as they lacked a centralized workflow that could help ensure completeness in the review process and compliance with accounting standards.
For a mid-size company with significant growth potential, ASC 606 compliance can be costly and challenging. For Optimizely, this meant an ever increasing number of sales contracts and order forms that needed to be appropriately reviewed to recognize revenue under ASC 606 guidelines.
Optimizely struggled with a lengthy, manual contract review process resulting in organizational inefficiencies as they lacked a centralized workflow that could help ensure completeness in the review process and compliance with accounting standards.
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Optimizely integrated Klarity’s contract review software into their workflow. Klarity automatically pulls contracts from Optimizely’s contract management system, removing the need for manual data transfer. Through automatically identifying contracts with non-standard terms, Klarity better identifies the population of contracts for Optimizely to review. Klarity automatically populates Optimizely’s custom non-standard terms checklist for each contract by automatically extracting all information and metadata.

Ultimately, this streamlines the review process for Optimizely’s revenue accountants, ensures that each contract goes through the requisite review steps, and helps to ensure compliance with ASC 606 revenue recognition guidelines. With Klarity, Optimizely is now able to review revenue contracts 3x as fast as before and hold greater confidence in their internal controls.
Optimizely built the leading progressive delivery and experimentation platform enabling thousands of companies around the world to optimize their customer experience through a/b testing, feature flagging, and personalization tools. Optimizely is using Klarity to streamline the ASC 606 sales contract review process and automate the population of a custom non-standard terms checklist for 300+ contracts each quarter.
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Their previous contract review workflow consisted of the following steps:
‍This workflow process had significant short-comings.
Optimizely engaged Klarity to integrate its workflow management software and artificial intelligence capabilities into their sales contract review process.‍
With Klarity, their contract review process is significantly more efficient.
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Klarity’s platform facilitated the review of 342 contracts during a quarter, allowing the revenue recognition manager to review contracts 3x as fast as before.
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