About Rossum

Rossum is an AI-based cloud document processing platform that automates the ingestion, validation, and communication of transactional documents across various formats. By utilizing proprietary machine learning algorithms, it enhances data accuracy and compliance while significantly reducing manual workload and processing time.

```xml <problem> Many organizations still rely on manual processes for handling transactional documents, leading to inefficiencies, errors, and delays. Extracting data from invoices, purchase orders, and other documents is often time-consuming and labor-intensive, hindering productivity and increasing operational costs. </problem> <solution> Rossum offers an AI-powered intelligent document processing (IDP) platform that automates the ingestion, validation, and communication of transactional documents. The platform utilizes a proprietary large language model (LLM) to process structured and unstructured documents, extract relevant data, and ensure compliance with business rules. By automating document workflows, Rossum reduces manual workload, minimizes errors, and accelerates processing times, enabling organizations to streamline operations and improve efficiency. The platform also facilitates human-AI collaboration, allowing users to provide feedback and continuously improve the accuracy of the AI engine. </solution> <features> - AI-powered data extraction from various document formats, including invoices, purchase orders, and contracts - Automated document ingestion from multiple channels, such as email, scanners, and shared drives - Cross-validation of document data with master data and third-party APIs - Customizable business rules and exception handling to ensure data accuracy and compliance - Automated approval workflows with rules for auto-approve/reject based on defined criteria - AI-generated email communications for exception handling and vendor notifications - Real-time insights and analytics to track key metrics, such as processing time and error rates - Integrations with leading ERP systems, including SAP S/4HANA, Coupa, and Oracle NetSuite </features> <target_audience> Rossum primarily targets organizations across various industries, including finance, supply chain, and procurement, that process a high volume of transactional documents and seek to automate their document workflows. </target_audience> <revenue_model> Rossum operates on a subscription-based pricing model, offering different tiers based on the volume of documents processed and the features required. </revenue_model> ```

What does Rossum do?

Where is Rossum located?

Rossum is based in Prague, Czechia.

When was Rossum founded?

Rossum was founded in 2017.

How much funding has Rossum raised?

Rossum has raised 110820000.

Location

Prague, Czechia

Founded

2017

Funding

110820000

Employees

166 employees

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Rossum

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Executive Summary

rossum.ai 10K+

Crunchbase

Founded 2017 – Prague, Czechia

Funding

Estimated Funding

$100M+

Team (100+)

No team information available.

Company Description

Problem

Many organizations still rely on manual processes for handling transactional documents, leading to inefficiencies, errors, and delays. Extracting data from invoices, purchase orders, and other documents is often time-consuming and labor-intensive, hindering productivity and increasing operational costs.

Solution

Rossum offers an AI-powered intelligent document processing (IDP) platform that automates the ingestion, validation, and communication of transactional documents. The platform utilizes a proprietary large language model (LLM) to process structured and unstructured documents, extract relevant data, and ensure compliance with business rules. By automating document workflows, Rossum reduces manual workload, minimizes errors, and accelerates processing times, enabling organizations to streamline operations and improve efficiency. The platform also facilitates human-AI collaboration, allowing users to provide feedback and continuously improve the accuracy of the AI engine.

Features

AI-powered data extraction from various document formats, including invoices, purchase orders, and contracts

Automated document ingestion from multiple channels, such as email, scanners, and shared drives

Cross-validation of document data with master data and third-party APIs

Customizable business rules and exception handling to ensure data accuracy and compliance

Automated approval workflows with rules for auto-approve/reject based on defined criteria

AI-generated email communications for exception handling and vendor notifications

Real-time insights and analytics to track key metrics, such as processing time and error rates

Integrations with leading ERP systems, including SAP S/4HANA, Coupa, and Oracle NetSuite

Target Audience

Rossum primarily targets organizations across various industries, including finance, supply chain, and procurement, that process a high volume of transactional documents and seek to automate their document workflows.

Revenue Model

Rossum operates on a subscription-based pricing model, offering different tiers based on the volume of documents processed and the features required.