Meet Ottimate: Plate IQ Rebrands as Leading AP Automation AI
by The Ottimate Editorial Team
Plate IQ, the #1 AP automation tool for the restaurant and hospitality industry, is thrilled to announce its rebrand to Ottimate.
Plate IQ began its journey in 2014 by solving one of the most complex AP processes in the restaurant space, doing what no other AP automation software could do at the time: capturing important line item details. This differentiator, powered by maturing AI technology, allowed Plate IQ to carve a niche for itself in not only the restaurant industry but also related hospitality spaces, including hotels, resorts, bars, and country clubs.
Since then, Plate IQ has evolved into powerful, AI-driven software that can automate critical problems in the office of the CFO. It has partnered with enterprise accounting firms, some of the largest independent retailers and grocery chains, healthcare centers, and construction firms to bring next-generation technology to busy accounts payable and finance teams. Now, it wants to introduce this technology to other industries while continuing to delight its current and new customers.
The new Ottimate name positions the company as an intelligent AP solution dedicated to helping companies truly automate their AP process, make more strategic business solutions, and ultimately enable a better day-to-day for the entire team.
“All companies need to do accounts payable in some way, shape or form. Even with software tools in place, it can be a highly painful, manual process,” says Barrett Boston, CEO of Ottimate. “Ottimate is built on robust AI technology – the most mature in the industry. We want to reintroduce our technology to the broader market as Ottimate because we believe it will lead to a better tomorrow for AP professionals, regardless of their industry.”
This exciting transformation comes on the heels of major product releases that further bolster Ottimate’s position as the best AP automation technology in the space. Ottimate will continue to provide:
- Robust line-item detail that eliminates over 90% of manual accounting processes
- Instant invoice capture and automation with 99% accuracy
- 2-and-3-way PO match
- Unlimited custom dimensions that are configurable based on rules of any complexity
- Payment automation for every invoice, from anywhere — all in a single system
- Easy integration to popular ERPs and accounting systems
“This transformation solidifies our presence in the hospitality industry while opening the doors for organizations in other industries facing similar challenges,” says Barrett. “In a crowded market full of jargon and empty promises, we have one clear statement: Don’t just automate AP. Ottimate it. Our technology goes beyond the status quo and allows teams to fully transform their AP process without cutting corners or making concessions.”
As the new brand rolls out to existing and future customers, Ottimate also continues to improve its deep learning capabilities. The Ottimate AI leverages large language models (LLMs), which enhances its ability to support complex AP processing requirements and its compatibility with popular ERPs in hospitality, construction, manufacturing, retail, and other industries. With zero to minimal training requirements, Ottimate can:
- Process large volumes of multi-page invoices
- Capture custom header and line item fields
- Code invoices to multiple custom dimensions, including GL, departments, projects, and more
For AP managers, approvers, controllers, and CFOs, Ottimate represents a smarter way to work through the entire invoice lifecycle. Meet Ottimate by scheduling a demo today.
About Ottimate (Formerly Plate IQ)
Ottimate is AP automation AI that provides a more innovative way for AP managers, approvers, controllers, and CFOs to work through the entire invoice lifecycle. With mature deep learning capabilities powered by AI, Ottimate learns your business and AP process down to the line item, supporting a custom approval and payment workflow. Ottimate eliminates over 90% of the manual accounting process and provides insights into invoices and spending, helping finance professionals uncover opportunities for growth. This means more strategic business decisions for CFOs and a better day-to-day for the entire team. Don’t just automate AP. Ottimate it. To learn more, visit ottimate.com.
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