Plate IQ
AI accounts payable automation, formerly Plate IQ, for restaurants, hospitality and beyond
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What Plate IQ does
Plate IQ began as accounts payable software for restaurants: it read supplier invoices, coded them to the right accounts and helped restaurants pay suppliers. It has since renamed itself Ottimate, and the old plateiq.com address now redirects to ottimate.com. The agency that handled the rebrand, Altitude Marketing, said the company wanted a name that would let it expand beyond restaurants into the wider office of the CFO, regardless of industry.
Ottimate describes itself as AI-powered AP automation for profitable finance teams. The product captures and codes invoices, routes them for approval, catches cost discrepancies and invoice risk, checks purchase-order fulfilment, manages employee spend and pays vendors directly. It integrates with accounting systems including NetSuite, QuickBooks, Sage, Acumatica and Microsoft Dynamics, and targets hospitality (restaurants, hotels, casinos, country clubs), senior living, grocery and retail, healthcare practices and accounting firms. Its site says it has been named a Leader in two IDC MarketScape reports.
In November 2021, as Plate IQ, it raised a $160 million Series B from the growth equity firm FTV Capital, whose partners joined its board. At the time it said it had added more than 8,000 customers and processed over $2 billion of invoice payments through its VendorPay network, and Global Corporate Venturing reported that it handled more than 50,000 invoices a day. The announcement named Barrett Boston as chief executive, with Bhavuk Kaul moving to president.
Ottimate does not publish prices; businesses request a demo. It is aimed at finance teams handling large numbers of supplier invoices across multiple locations.
This profile is put together from the company’s own pages and published reporting, checked on 15 October 2026. We have not tested the product, and nothing here is paid placement.
What people use Plate IQ for
- Automating supplier invoice capture and coding
- Routing invoices for approval across locations
- Catching supplier price changes and discrepancies
- Paying vendors from one platform
- Managing employee spend
Plate IQ pricing
Ottimate does not publish prices. Its pricing page does not load publicly, and the site asks businesses to request a demo.
| Plan | Price | What you get |
|---|---|---|
| Ottimate AP automation | Quote on request | Invoice automation, approvals and payments |
Checked 15 October 2026 · Official pricing page · Prices change, so confirm before you buy
Who Plate IQ is for
- run finance for a restaurant group, hotel group or multi-location business
- process large volumes of supplier invoices
- use NetSuite, QuickBooks, Sage, Acumatica or Dynamics
- are a single small business with a few bills a month
- want self-serve published pricing
Plate IQ pros and cons
- Deep roots in restaurant and hospitality invoices
- End-to-end AP from capture to payment
- Integrations with major accounting systems
- No public pricing
- Name change means older reviews refer to Plate IQ
Plate IQ alternatives and how they compare
Other products that do a similar job. We have not compared them hands-on; check each one's own site for current prices.
| Product | What it is | Starts at | Reviews | How it differs from Plate IQ |
|---|---|---|---|---|
| Plate IQ this page | AI accounts payable automation, formerly Plate IQ, for restaurants, hospitality and beyond | Pricing on request | No reviews yet | — |
| MarginEdge | Restaurant invoice processing and cost management | See its own pricing page | — | Restaurant-specific with food-cost tools; publishes per-location pricing. |
| BILL | AP and AR automation for small and mid-size businesses | See its own pricing page | — | General-purpose AP with self-serve plans. |
| Tipalti | Finance automation for payables and global payments | See its own pricing page | — | Strong in mass and international supplier payments. |
Plate IQ reviews
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Frequently asked questions
Is Plate IQ the same as Ottimate?
Yes. Plate IQ renamed itself Ottimate, and plateiq.com now redirects to ottimate.com.
What does Ottimate do?
It automates accounts payable: invoice capture and coding, approvals, discrepancy checks and vendor payments.
How much funding has Plate IQ raised?
Its largest round was a $160 million Series B from FTV Capital in November 2021.
Sources (4), checked 15 October 2026
- Ottimate official site
- Business Wire: Plate IQ raises $160 million from FTV Capital (4 Nov 2021)
- Global Corporate Venturing: FTV Capital puts $160m on Plate IQ
- Altitude Marketing: rebranding Plate IQ to Ottimate
We list Plate IQ from public sources and are not affiliated with it. Spotted something wrong? Tell us.