Ottimate

Ottimate's History

Ottimate, previously known as PlateIQ, was part of the Y Combinator S15 batch. The company rebranded to Ottimate to reflect its advanced AI-powered accounts payable (AP) automation solutions. This strategic pivot underscores the company's commitment to revolutionizing financial operations for varied industries through cutting-edge technology. The rebranding signifies an evolution from its original focus, aiming to position itself as a leader in fintech innovations, particularly within the payments sub-industry.

Ottimate's Locations

Ottimate operates out of New York, NY, and Emeryville, CA, USA. These key locations enable the company to access a broad talent pool and serve a diverse clientele across the United States and beyond. Additionally, Ottimate supports remote and partly remote work environments, allowing it to attract top-tier talent from various regions. This geographic flexibility is crucial for maintaining a robust, innovative team capable of driving the company’s mission forward.

Ottimate's Products and Features

Ottimate specializes in AI-powered accounts payable automation, offering a suite of features designed for AP managers, approvers, controllers, and CFOs. Key features include invoice automation, payment automation, spend management, and purchase order match. The software integrates seamlessly with major accounting systems like QuickBooks, NetSuite, and Sage Intacct. Ottimate's solutions enable businesses to automate the entire invoice lifecycle, significantly reducing the time spent on invoices by up to 80%. Additionally, the platform offers one-click bill pay, inventory management, and cloud-based data storage solutions, helping clients go paperless and gain real-time spend visibility.

Ottimate's Industry and Clientele

Operating within the fintech sector, specifically in payments, Ottimate serves a diverse range of industries including restaurants, country clubs, hotels, accounting and bookkeeping firms, grocery stores, retail, construction, healthcare, and manufacturing. By targeting these varied sectors, Ottimate demonstrates its versatility and ability to cater to the unique needs of different business environments. The company's advanced AI solutions provide detailed GL mapping, deep learning AI, and links to source documentation, offering a comprehensive and efficient accounts payable experience.

Ottimate's Strategic Initiatives

Ottimate is proactive in its industry engagement, participating in prominent trade shows such as The National Restaurant Association Show and HX: The Hotel Experience. These events allow Ottimate to showcase its innovative solutions and connect with potential clients and partners. The company also hosts webinars on accounts payable, financial technology, and mature AI, providing valuable insights and education to its audience. Through these strategic initiatives, Ottimate aims to enhance its market presence and reinforce its position as a thought leader in the AP automation space.