Company Research Report: Rossum

Company Overview

Name, Mission of the Company

Rossum is an AI-first, cloud-native platform that aims to automate the entire transactional document process from end to end. The mission of the company is to enable one person to effortlessly process one million transactions in a year, revolutionizing how businesses operate by reducing manual data entry and improving operational efficiency.

When the Company was Founded and by Whom

Rossum was founded in 2017 by Tomas Gogar, Petr Baudis, and Tomas Tunys, who were immersed in PhD studies in the AI field at the time.

Key People in the Company

Tomas Gogar, Co-Founder and CEO

Petr Baudis, Co-Founder

Tomas Tunys, Co-Founder

Elena Melnikova, Chief Marketing Officer

Andrew Fullerton, Chief Sales Officer

Headquarters

Rossum is headquartered in the Czech Republic, with additional global offices in the United States, United Kingdom, and Luxembourg.

Number of Employees

Rossum employs over 200 employees across its global offices.

Revenue of the Company

No information is available.

What is the Company Known For

Rossum is known for its advanced AI-driven document processing platform, which automates data capture, validation, and workflow management for transactional documents such as invoices, purchase orders, and bills of lading. The company has been recognized as a leader in intelligent document processing by various industry analysts.

Products

What Products do They Offer

Rossum offers a comprehensive intelligent document processing platform designed to automate the capture, validation, and management of transactional documents.

High-Level Description of the Product

Rossum Platform: An AI-first, cloud-native platform that automates the document processing workflow end to end. It includes modules for data capture, validation, triggering actions, and unlocking insights.

Key Features of Each Product

AI-first and Cloud-native: The platform uses a proprietary large language model (LLM) specifically trained on millions of transactional documents, ensuring high accuracy and rapid learning.

Template-free Data Capture: The AI engine reads like a human, adapting to changes in document layout and style without the need for templates.

Ergonomic User Interface: Designed for AI-augmented work, enabling business users to quickly validate, correct, and process documents.

Seamless Integration: Integrates with existing ERP systems like SAP, Coupa, Oracle, Workday, and more.

Security and Compliance: ISO 27001, SOC2, HIPAA, and TX-RAMP certified, ensuring the highest level of data security.

Intelligent Mailbox: Facilitates automated business communication, including handling exceptions with AI-generated email responses.

Recent Developments

What are the Recent Developments in the Company

Rossum has continuously improved its platform with new features and integrations, focusing on enhancing AI accuracy and user experience. They recently launched the Rossum Aurora AI engine, which boasts human-level accuracy and speed in processing transactional documents.

What are the New Products Launched

Rossum Aurora AI: A next-generation AI engine designed to raise the performance bar of transactional document automation, from data capture to email communication.

What are the New Features Added to Existing Products

Invoice Approval Workflows: Enhancements for better collaboration and automated approval processes.

E-invoicing Germany Plugin: Delivers a unified and compliant AP solution for adhering to Germany's e-invoicing mandates.

Document Communication Automation: New features for automated business communication within the Rossum platform.

Any New Partnerships

Partnership with Barkers: To optimize Coupa and automate procurement processes.

Partnership with Qiado: To revolutionize financial operations across Europe with improved SAP integration.

Partnership with 8Quanta: Enhances NetSuite integration capabilities for US clients.

Partnership with Clearsulting: To enhance Coupa integrations and support digital finance transformations.

Rossum continues to be highly regarded for its innovative solutions in intelligent document processing, making significant strides to improve productivity, accuracy, and efficiency in business operations.