Ottimate for Construction allows users to instantly map invoices by any dimension in their existing accounting software without the hassle of manual data entry.
— Barrett Boston, CEO of Ottimate
SAN FRANCISCO, CALIFORNIA, USA, January 18, 2024 /EINPresswire.com/ — Ottimate, the leading AP automation AI, has announced the launch of the #1 AP automation AI software for the construction market. Ottimate for Construction matches purchase orders with 2-and 3-way capabilities, captures header and line item details with 99% accuracy, and allows customers to instantly map invoices by any dimension in their existing accounting software without the hassle of manual data entry. This revolutionary release supports Ottimate’s ultimate goal of providing its time-saving AP automation solution to new industries, no matter how simple or complex their needs.
Construction finance teams have been underserved with accounts payable automation functionality that many other industries have had access to for years. With the release of Ottimate for Construction, Ottimate ensures its solution is fully customizable and tailored to even the most complex projects. Users can easily build their platform in any way with any dimension like job, cost code, contract, percentage of completion, and more, allowing as much information as exists in their ERP to be represented in their account. Dimensions can be named and matched and used to create rules based on any input, creating an unparalleled experience tailored to construction accounting systems and unique processes.
“The launch of Ottimate for Construction marks another incredible milestone in Ottimate’s growth that transforms the way construction firms manage accounts payable. We are the only AI-powered AP automation provider with the ability to instantly capture, code, approve, and pay invoices of any size and complexity with approval rules that mimic existing workflows and are compatible with any dimension,” – Barrett Boston, CEO of Ottimate.
This exciting announcement comes on the heels of major product releases that further bolster Ottimate’s position as the best AP automation technology in the space. Ottimate will continue to provide:
-Robust line-item detail that eliminates over 90% of manual accounting processes
-Instant invoice capture and coding at the header and line item level with 99% accuracy powered by industry-leading proprietary AI
-2- and 3-way PO match at the header and line item level, flagging discrepancies in item price and quantities
-Unlimited custom dimensions that are configurable based on rules of any complexity
-Payment automation for every invoice, from anywhere — all in a single system
-Easy integration to popular ERPs and accounting systems
Additionally, Ottimate takes a white-glove approach to customer support and the vendor enrollment process, ensuring that vendors are only set up with the payment modalities they prefer and making it easier for AP professionals to communicate any discrepancies on purchase orders, invoices, and items to their vendors directly in the application from any device. Customers can manage invoices and approve payments from the office, home, or job site through the mobile app.
About Ottimate (Formerly Plate IQ)
Ottimate is AP automation AI that provides a more innovative way for AP managers, approvers, controllers, and CFOs to work through the entire invoice lifecycle. With mature deep learning capabilities powered by AI, Ottimate learns your business and AP process down to the line item, supporting a custom approval and payment workflow. Ottimate eliminates over 90% of the manual accounting process and provides insights into invoices and spending, helping finance professionals uncover opportunities for growth. This means more strategic business decisions for CFOs and a better day-to-day for the entire team. Don’t just automate AP. Ottimate it. To learn more, visit ottimate.com.