Ottimate Partners With Agave on AP Automation in Construction Industry

Ottimate partnered with Agave to make it easier for construction and real estate companies to incorporate its accounts payable (AP) automation solution into their existing processes.

Agave’s unified API for the construction industry will enable customers to sync data from Procore and other technologies into the Ottimate for Construction solution, the companies said in a Thursday (April 4) press release.

“Customers benefit from top-tier AI-powered AP automation and [purchase order (PO)] workflows provided by Ottimate, alongside unparalleled construction and real estate management features from leading industry authorities such as Procore, Deltek and Sage Construction Management,” Krishna Janakiraman, head of engineering at Ottimate, said in the release.

Ottimate was formerly known as Plate IQ before its rebranding in December.

With the connection enabled by the new partnership, construction customers will be able to manage AP, PO, retainage and compliance workflows, Janakiraman said in the release. They can do so across multiple jobs, projects, plans and contracts, choosing which files or disciplines they want to connect to Ottimate.

With Agave’s API connections, users can customize and tailor Ottimate to workflows across multiple systems, the release said. They can allow as much information as exists in their enterprise resource planning (ERP) and other systems to be represented in their account.

“Ottimate chose us for our deep and growing financial integrations with dozens of construction-specific systems,” Agave Co-founder Tom Reno said in the release. “We look forward to enabling their team to automate workflows for all types of contractors, bringing increased productivity to construction.”

PYMNTS Intelligence found that construction firms are looking to technology to address common problems in the industry by accelerating payments, reducing financing costs and streamlining back-office processes.

Companies that have adopted tech solutions have seen results, with 79% saying that accepting electronic payments helped them get paid faster, according to PYMNTS Intelligence’s “Building Better Cash Flow in Construction With Digital Payments.”

In another development in the space, construction/landscaping software startup Attentive.ai said in February that it raised $7 million to expand to new businesses. The company provides a business management platform with artificial intelligence-based workflows to offer automation to companies in the construction and landscaping sectors.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.