Ultimus

What Ultimus does

Ultimus is a privately held business process automation (BPM) and low-code software provider founded in 1994 by Rashid Khan and headquartered in New York. The company sells the Ultimus Digital Process Automation (DPA) Suite, anchored by Composed Process Solutions (CPS), a low-code platform built on a fully composable architecture that assembles enterprise applications from reusable digital assets, and the Ultimus Adaptive BPM Suite, which features a patented rule-based process engine. Supporting modules include the Ultimus DPA Portal/UATS task service, Flobots workflow robots, a Citizen Development Workspace, a Low-Code Governance Module, and an expanding set of AI capabilities covering generative AI-driven vibe coding, AI agent orchestration, machine learning-based invoice processing, and AI-based email routing. The platform is positioned for complex, mission-critical process automation rather than simple point automation.

Ultimus generates revenue primarily through subscription and license fees for the DPA Suite, supplemented by professional services for implementation, consulting, and training, with all pricing conducted on a quote-based enterprise model. Go-to-market combines direct enterprise field sales with a global DPA Suite Premium Partner program covering North America, EMEA, Latin America, and APAC. The company reports more than 2,000 customers across 80+ countries with software supported in 20 languages, including 125+ enterprises with annual revenue above $1B, over 75 banks, and 150+ government organizations. Operating infrastructure spans 14 offices across 11 countries, including regional headquarters in Panama City (LATAM), Königsbrunn (EMEA), Shanghai (APAC), and Taipei. Ultimus has remained independent and reportedly profitable throughout its 30+ year history, with its only disclosed institutional funding being a $10 million round from Advent International in 2004.

Customer concentration spans banking and financial services, healthcare and life sciences, government and public sector, human resources, and finance and accounting, with named enterprise logos including Sanofi, Pfizer, Bristol-Myers Squibb, Lockheed Martin, Sony, CBRE, DHL, the Saudi Arabian Monetary Authority, and Kahramaa. The company has been recognized by Gartner, Forrester Research, 451 Research, Deep Analysis, and Everest Group, and has appeared on the Inc 500, Software Magazine's Software 500, and Deloitte Technology Fast 500 lists. Recent product cadence has emphasized annual platform releases (2024, 2025, 2026) with expanding AI and governance features, while CPS has delivered 400% customer-base growth for two consecutive years across eight industries and five continents.

Name

Ultimus

Legal name

Ultimus Inc.

Website

https://ultimus.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Ultimus is a privately held BPM and low-code software provider founded in 1994, selling a composable Digital Process Automation Suite to large enterprises, banks, and government agencies across 80+ countries. Revenue comes from enterprise subscription licensing, professional services, and a global Premium Partner channel.

Ownership category

akta.pro rank

Product category

Business Process Automation Software

NAICS

Software Publishers (5132), Computer Systems Design Services (541512), Custom Computer Programming Services (541511)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)

akta.pro primary industry

Digital Process Automation (DPA) & Orchestration Suites (HDAEAHAF)

akta.pro secondary industries

Process & Case Management Low-Code Platforms (HDAEAKAE), Low-Code/No-Code Application Platforms (HDAEAKAA), iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG), Robotic Process Automation (RPA) & Hyperautomation Platforms (HDAEAKAF), Technical Enablement & Adoption Services (Change Management, Adoption, Champions) (BPAEANAC)

Keywords

• Business process automation
• Low-code platform
• Digital process automation
• Workflow automation software
• Enterprise process orchestration

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Software Licenses and Subscriptions: The core revenue stream comes from licensing the Ultimus Digital Process Automation Suite, which includes Composed Process Solutions, Ultimus Adaptive BPM Suite, and Ultimus DPA Portal/UATS. The platform is sold as a subscription or license to enterprise customers, with different tiers for Premium Partners and standard deployments. Pricing is quote-based, reflecting the enterprise nature of the software.
2. Professional Services and Implementation: Ultimus Enterprise Services and Premium Partners provide implementation, process consulting, and solution delivery services. The 'software factory' compositional delivery model reduces implementation time and cost, enabling faster project delivery while maintaining service revenue.
3. Training, Certification, and Mentoring: Ultimus offers comprehensive training, certification, and ongoing mentoring services for Composed Process Solutions. Training covers software engineers, application leaders, and business technologists, with both live instructor-led and complementary online options.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Ultimus sells a low-code Digital Process Automation (DPA) Suite that enables enterprises to compose, deploy, and orchestrate complex, mission-critical business processes using reusable digital assets and a patented rule-based process engine. The platform is sold primarily through enterprise software licenses and subscriptions, supplemented by implementation and training services delivered by Ultimus and a global Premium Partner network.

Product overview

Ultimus offers a unified Digital Process Automation Suite built on a fully composable architecture. The core platform is the Ultimus Digital Process Automation Suite, which includes Composed Process Solutions for low-code application development, the Ultimus Adaptive BPM Suite for process orchestration and modeling, Ultimus DPA Portal/UATS for end-user task services, and Citizen Development Workspace for business users. Supporting capabilities include Ultimus Flobots for rapid integration automation, Solution Frameworks for industry and function-specific pre-built solutions, and DPA Solution Starters for common process templates. The platform enables enterprises to compose and recompose digital assets into end-to-end business solutions with built-in hyperautomation, AI/ML integration, and governance capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Composed Process Solutions®: Low-code technology platform based on composition for creating and assembling digital assets into enterprise solutions.
• Ultimus Digital Process Automation (DPA) Suite
• Ultimus Adaptive BPM Suite
• Ultimus Advanced Task Service / DPA Portal
• Ultimus Flobots®
• Citizen Development Workspace

Products and services

• Ultimus Digital Process Automation Suite Comprehensive, integrated low-code Digital Process Automation Suite that automates entire end-to-end business processes for enterprises to maximize agility, effectiveness, and efficiency across the organization and with customers, suppliers, and partners.
• Composed Process Solutions (CPS) Low-code application development environment based on full compositional architecture that lets enterprises rapidly build end-to-end BPM solutions from reusable digital assets (business objects, integration adapters, and document templates) without one-off custom coding.
• Ultimus Adaptive BPM Suite Process design, orchestration, modeling, and optimization platform providing a patented rule-based process engine and multi-dimensional visual tooling for UI development, task automation, organizational modeling, business rules, process flow, and role management.
• Ultimus DPA Portal / UATS Service layer providing high performance, usability, and productivity for in-production business process solutions, including the WebClient portal with mobile-optimized access and rule-based task organization for high-volume, multi-process deployments.
• Citizen Development Workspace Workspace that lets business users and citizen developers create and modify enterprise-grade process applications without IT or professional programmers, supported by built-in governance and security.
• Ultimus Flobots Rapid integration workflow robots trained through simple configuration to eliminate repetitive tasks and perform automated content ingestion, document generation, email/SMS routing, integration, and event handling across enterprise systems.
• Ultimus Solution Frameworks Pre-built, enterprise-grade solution frameworks covering Professional Services Automation, Case Management/Customer Support, Intelligent AI-Based Email Routing, Purchase-to-Pay, Blockchain Digital Process Automation, Credit Process Digitization, Construction Management, Month-End Financial Closing, and Point-of-Care Documentation.
• Ultimus DPA Solution Starters Fully functional, ready-to-configure business process automation applications for common use cases including Vacation Requests, Blockchain Identity Management, Onboarding, Timesheet, Invoice Processes, Quotation Manager, Configuration and Repair Manager, Warranty Manager, and Bulk Incident Management.
• AI-Based Invoice Processing Solution AI/ML-powered invoice workflow solution built on Composed Process Solutions that automates accounts payable invoice processing, extraction, validation, and approval with deep learning models, reducing per-invoice processing cost from approximately $10 to ~$0.14.
• Intelligent AI-Based Email Routing Framework AI-based email routing solution that uses machine learning to optimize customer service and support email triage, ensuring compliance and reducing manual effort in customer support workflows.
• Ultimus Enterprise Services and Premium Partner Implementation Professional services offering including Platform Support, Process Consulting, implementation, training, certification, and managed services delivered by Ultimus directly and through Premium Partners using the compositional 'software factory' delivery model.

Quantifiable outcome

• 9X reduction in implementation costs
• +7 more outcomes

Named customers18 records

Segments14 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability7 records

Feature9 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• metafinanzminorStrategic or Co-development Partner · 9 November 2020Ultimus and metafinanz partnered to develop an electronic point-of-care documentation solution for hospitals and other healthcare providers. The partnership combines Ultimus' DPA Suite with metafinanz's healthcare expertise to address documentation needs in clinical settings.
• BDOminorImplementation/ SI/ Consulting Partner · 10 September 2020Ultimus and BDO announced a partnership for bank credit process digitization, providing an end-to-end digitized credit solution spanning credit underwriting, credit monitoring, loan administration, and relationship management.
• BCTSminorChannel Partner/ Reseller/ Distributor · 15 June 2017BCTS is an Ultimus partner in Latin America for over 15 years, presenting Ultimus Adaptive BPM Suite and Ultimus CPS to users and prospects in the region to empower a new generation of BPM users.
• PROceed BPMcoreImplementation/ SI/ Consulting PartnerPROceed BPM is a key implementation partner with over 40 years of combined industry experience. The firm specializes in optimizing critical business processes using Ultimus Composed Process Solutions and has delivered multiple customer case studies including Boone County Kentucky and central bank implementations.
• MWD AdvisorsminorStrategic or Co-development PartnerMWD Advisors, a UK-based digital technology research and advisory firm, conducted in-depth analysis of Ultimus and its Composed Process Solutions platform. Neil Ward-Dutton, MWD Advisors co-founder, co-presented webinars with Ultimus executives on digital transformation and composed low-code approaches.
• Forrester ResearchminorStrategic or Co-development PartnerForrester Research analysts including John R. Rymer, Rob Koplowitz, and Clay Richardson have co-presented webinars with Ultimus, providing analyst perspectives on digital transformation, low-code BPM, and digital process automation. Ultimus has been recognized in multiple Forrester Research reports.
• ImageWare AGminorStrategic or Co-development PartnerHasan Irmak, CEO of ImageWare AG, co-presented in an Ultimus webinar on accelerating digital transformation with low-code BPM platforms, representing a strategic technology collaboration.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Camunda: Camunda offers a process orchestration and workflow automation platform with developer-focused tooling. It overlaps with Ultimus in process modeling, orchestration, and integration, and targets similar enterprise use cases for mission-critical BPM.
• Appian: Appian is a leading low-code business process management and DPA platform serving large enterprises and government customers. It directly competes with Ultimus DPA Suite and CPS in process orchestration, case management, and low-code application development, and is recognized in the same Forrester and Gartner reports.
• UiPath: UiPath is a leading hyperautomation platform combining RPA with process orchestration and AI. Its Process Mining and Orchestration modules compete directly with Ultimus's Adaptive BPM Suite and Flobots in automating business workflows.
• ProcessMaker: ProcessMaker provides a low-code BPM and workflow automation platform targeting mid-market and enterprise customers. It competes with Ultimus in DPA use cases for banking, healthcare, and government, with comparable low-code tooling.
• Bizagi: Bizagi is a low-code BPM/DPA platform that competes head-to-head with Ultimus in enterprise process automation. It targets similar Fortune-tier customers in banking, manufacturing, and government, and is recognized in the same analyst reports.
• Pegasystems: Pega provides a low-code platform for BPM, CRM, and DPA with strong enterprise and financial-services presence. It competes with Ultimus in banking, insurance, and government verticals and is widely cited as a Leader in Forrester and Gartner DPA evaluations.

Broad incumbents

• ServiceNow: ServiceNow's App Engine and Workflow Studio provide low-code process automation as part of its broader enterprise service management platform. It overlaps with Ultimus in IT service management, HR, and cross-enterprise workflow use cases.
• Microsoft Power Automate: Microsoft Power Automate is a low-code/RPA/workflow offering bundled into the Power Platform and Microsoft 365 ecosystem. As a broad incumbent with massive distribution and bundled pricing, it is the primary competitive threat to standalone platforms like Ultimus.
• IBM Business Automation Workflow: IBM's BPM/workflow portfolio (built on the legacy WebSphere/BAW stack) competes with Ultimus in large-bank and large-government process automation. It is a broad incumbent offering BPM as part of a wider hybrid-cloud and AI portfolio.

Emerging players

• Bonitasoft: Bonitasoft offers an open-source BPM and digital automation platform with a focus on developer-friendly low-code tooling. It overlaps with Ultimus in BPM/workflow use cases, particularly in European enterprise and government markets, but is smaller in scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Ultimus_BPM
• YouTubeyoutube.com/@UltimusCPS
• Facebookfacebook.com/UltimusInc
• LinkedInlinkedin.com/company/ultimus

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ultimus