Ottimate

Ottimate, founded in 2014 and formerly known as Plate IQ, builds an AI-powered Accounts Payable automation platform covering the full invoice-to-payment lifecycle. The system is designed to remove manual data entry, prevent overpayments, detect fraud and enforce policy compliance, allowing finance teams to settle with vendors quickly and securely. It reports 30,000 customers served. The technical work spans machine learning, language models and computer vision. Document capture and workflow automation have moved beyond conventional OCR toward AI-based document understanding, supporting touchless settlement and autonomous validation. Applied capabilities include automated invoice coding and approval routing, cost discrepancy detection, invoice risk detection and centralized expense management. The platform integrates with five major accounting systems: NetSuite, QuickBooks, Sage Intacct, Microsoft Dynamics and Acumatica. It is used across the hospitality, retail, healthcare and accounting sectors. The company's stated focus is the elimination of manual work for finance teams.