Accounts payable automation

Plate IQ

Name: Plate IQ
Author: Ottimate (formerly Plate IQ)

AI accounts payable automation, formerly Plate IQ, for restaurants, hospitality and beyond

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Image: Ottimate (ottimate.com)

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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

A good fit if you…

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

Probably not for you if…

are a single small business with a few bills a month
want self-serve published pricing

Plate IQ pros and cons

Pros

Deep roots in restaurant and hospitality invoices
End-to-end AP from capture to payment
Integrations with major accounting systems

Cons

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.

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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

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