Plate IQ
- Company typePrivate
- Founded2014
- HeadquartersSan Francisco, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
Plate IQ firmographics
Firmographics- Name
- Plate IQ
- Legal name
- Ottimate
- Website
- https://plateiq.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Plate IQ industry classification
Industry- Product category
- Accounts Payable Automation
- NAICS
- Custom Computer Programming Services (541511), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Intelligent Document Processing (IDP) & OCR Automation (HDAEAHAC)
- akta.pro secondary industries
- iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)
Keywords
Where Plate IQ is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Plate IQ business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Subscription: The platform operates as a subscription-based SaaS solution providing AP automation capabilities to enterprise and mid-market customers. The pricing is quote-based, indicating a per-seat or enterprise-tiered model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise and mid-market pricing tiers based on invoice volume and feature requirements |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
Plate IQ product offering
Product offeringCore offering
Plate IQ (operating as Ottimate) provides an AI-powered accounts payable automation SaaS platform that captures invoices from multiple formats, codes line items to GL accounts, routes them through configurable approval workflows, matches them to POs and receipts, detects cost discrepancies and invoice risk, and executes vendor payments via vCard, ACH, or check. The platform is sold to mid-market and enterprise finance teams in hospitality, retail, healthcare, and accounting firms, with deep integrations to QuickBooks, NetSuite, Sage Intacct, Acumatica, and Microsoft Dynamics.
Product overview
Ottimate (formerly Plate IQ) is an AI-powered accounts payable automation platform that unifies the entire AP process—from invoice capture and coding through approval workflows to vendor payment. The platform operates as a unified product with multiple integrated modules including VendorPay for payment processing, Supplier Invoice Tracker for visibility, Ottimate Concierge for white-glove support, and Ottimate Card for corporate spending. The solution is built on 10+ years of AP-specific AI models and processes over $30 billion in payables annually across 40+ million invoices.
Differentiator
Problem solved
Functional benefit
Products and services
- Ottimate AI-powered accounts payable automation platform that automates invoice capture, coding, routing, approval workflows, and vendor payments for mid-market and enterprise finance teams in hospitality, retail, healthcare, and accounting.
- VendorPay Integrated vendor payment module of Ottimate that lets finance teams execute payments to vendors via vCard, ACH, or check with real-time cash flow visibility.
- Ottimate Card Corporate card product integrated with the Ottimate AP automation platform for employee expense capture and spend management.
- Supplier Invoice Tracker Visibility module that lets suppliers and operators track invoice status through the approval and payment lifecycle within the Ottimate platform.
- Ottimate Concierge White-glove implementation and managed support service providing hands-on assistance for AP automation setup, configuration, and ongoing optimization.
- Plate IQ Retained legacy brand and dashboard product of Ottimate, processing 40+ million invoices annually representing $30+ billion in payables for existing customers.
Quantifiable outcome
- 80% reduction in invoice processing time
- +4 more outcomes
Companies that use Plate IQ
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles4 records
Plate IQ technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability8 records
Feature6 records
Plate IQ partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- QuickBookscoreDeep API integration with QuickBooks enabling automated AP processing within the QuickBooks ecosystem for mutual customers.
- NetSuitecoreDeep API integration with Oracle NetSuite enabling automated AP processing within the NetSuite ERP ecosystem.
- Sage IntacctcoreIntegration with Sage Intacct accounting software enabling automated AP processing for Sage customers.
- AcumaticacoreIntegration with Acumatica cloud ERP platform enabling automated AP processing within the Acumatica ecosystem.
- Microsoft DynamicscoreIntegration with Microsoft Dynamics ERP solutions enabling automated AP processing for Microsoft ecosystem customers.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Plate IQ competitors and assessment
Company assessmentDirect peers
- Stampli: AI-driven AP automation and invoice management platform competing in the same mid-market and enterprise AP segment with collaborative approval workflows and ERP integrations.
- Airbase: Spend management platform combining corporate cards, AP automation, and vendor payments. Competes with Ottimate's combined AP + card offering for mid-market customers.
- Bill.com: Public AP automation and business payments platform serving SMB and mid-market customers. Directly competes with Ottimate on invoice capture, approval workflows, and integrated bill pay (vCard/ACH/check).
- AvidXchange: AP automation platform focused on mid-market and enterprise customers with deep invoice-to-pay workflows. Highly comparable technology stack and target buyer (controllers/AP managers) with similar ERP integration model.
- Brex: Corporate card and expense management platform with bill pay and AP features. Competes with Ottimate Card and VendorPay across mid-market and enterprise finance teams.
- Ramp: Corporate card and spend management platform with expanding AP automation capabilities. Competes with Ottimate in invoice capture, approval workflows, and vendor payments.
- Tipalti: End-to-end payables automation platform with global payment capabilities and supplier management. Competes with Ottimate in AP automation and embedded vendor payments.
- MineralTree: AP automation solution focused on mid-market finance teams with automated invoice capture, approval workflows, and integrated payments via card/ACH/check. Directly comparable product scope.
Broad incumbents
- Coupa: Broad spend management and AP platform serving large enterprises with procurement, invoicing, and payments. Overlaps with Ottimate in AP automation but offers a much wider portfolio.
- SAP Concur: Enterprise travel, expense, and invoice management suite from SAP. Provides overlapping AP/invoice capabilities as part of a much broader finance and travel platform.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Plate IQ social profiles
Digital presencePlate IQ compliance and trust
Trust signalCompliance1 record
Plate IQ financial estimates
Financial estimateRevenue estimate
Valuation estimate
Plate IQ leadership team
Management profileNumber of profiles
Profiles3 records
Plate IQ funding detail
Funding detailFunding overview
Funding rounds3 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Plate IQ M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Plate IQ
What does Plate IQ do?
Plate IQ (operating as Ottimate) provides an AI-powered accounts payable automation SaaS platform that captures invoices from multiple formats, codes line items to GL accounts, routes them through configurable approval workflows, matches them to POs and receipts, detects cost discrepancies and invoice risk, and executes vendor payments via vCard, ACH, or check. The platform is sold to mid-market and enterprise finance teams in hospitality, retail, healthcare, and accounting firms, with deep integrations to QuickBooks, NetSuite, Sage Intacct, Acumatica, and Microsoft Dynamics.
Is Plate IQ a public or private company?
Plate IQ is a private company. It is classified as venture growth investor backed and is currently operating.
When was Plate IQ founded?
Plate IQ was founded in 2014. It employs 101 to 250 people.
Where is Plate IQ based?
Plate IQ is headquartered in San Francisco, United States, in the North America region.
How does Plate IQ make money?
One revenue line is on record: saaS Subscription.
Who are Plate IQ's main competitors?
Direct peers on record are Stampli, Airbase, Bill.com, AvidXchange, Brex, Ramp, Tipalti and MineralTree. Broad incumbents are Coupa and SAP Concur.
Does Plate IQ have an API?
Yes. Ottimate offers API integrations with accounting platforms including QuickBooks and NetSuite, enabling automated AP processes. The platform supports OAuth-based authentication via auth.plateiq.com for dashboard access. Developer documentation is at auth.plateiq.com/login/?next=/oauth/authorize/%3Fresponse_type%3Dcode%26client_id%3DJ2QJoYRFSVu4hLdK7tZpEfx3qPWNSrGaBJt1OB4X%26redirect_uri%3Dhttps%253A//dashboard.plateiq.com/accounts/login/%253Fnext%253D%25252F%26scope%3Daccounts.can_access_dashboard.
What industry is Plate IQ in?
Plate IQ's product category is Accounts Payable Automation. Its primary akta.pro industry code is HDAEAHAC, Intelligent Document Processing (IDP) & OCR Automation, with a secondary code of HDAEAHAG, iBPMS (Intelligent BPM Suites) & Process Automation Suites. Its NAICS code is 541511 and its SIC code is 7372.