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American Liberty Hospitality Leveraging AI for Enhanced Finish-to-Finish Resort AP Automation
By means of a brand new integration partnership between Aptech’s PVNG accounting resolution and Ottimate’s AP Automation AI (previously PlateIQ), lodge accounting groups can get rid of human error of handbook entry and save appreciable time processing invoices
To offer lodge AP managers, approvers, controllers and CFOs higher instruments to work by means of the bill lifecycle, Aptech has entered into an integration partnership with Ottimate (previously PlateIQ), an organization offering AP automation through AI. Collectively, Aptech and Ottimate are giving time again to accounting groups by enabling them to add paper and digital invoices in bulk and get rid of 90% of vendor bill processing. Houston-based American Liberty Hospitality is without doubt one of the first lodge administration and growth firms to leverage the joint expertise.
“At the moment with Aptech and Ottimate we’re lowering the time it takes to course of vendor paperwork, receive the required approvals, and impact cost,” stated Charles Poirier, American Liberty Hospitality Chief Monetary Officer. “The API integration between Aptech’s PVNGenterprise accounting platform and Ottimate has made {that a} actuality, and and not using a excessive diploma of problem in implementation.
“The intuitiveness of Ottimate has vastly benefited each our properties and company workplace,” Poirier stated. “The OCR and AI studying facet of bill add has vastly decreased the time required for property facet AP exercise, and the velocity of the cloud-based platform is much superior to our earlier system. Finally, we intend to make use of the Vendor Pay part of the system to cut back the workload on the company AP workforce. We count on this expertise to simplify our AP processes all through the group and permit us to scale with a lot much less problem on the AP and funds facet of our enterprise.”
With Aptech + Ottimate, lodge accounting groups obtain:
- Bill Automation: Seize and course of invoices, lowering handbook information entry and errors.
- Expense Monitoring: Acquire real-time visibility into bills to make knowledgeable monetary selections.
- Streamlined Approval Workflow: Customise approval workflows to suit distinctive enterprise processes.
- Vendor Administration: Simply handle vendor relationships and negotiate higher phrases.
AI Automation
“Ottimate AI leverages massive language fashions (LLMs) to help advanced AP processing necessities, and it’s appropriate with PVNG,” stated Matthew Wallach, Ottimate Accomplice Supervisor. “With zero to minimal coaching necessities, Ottimate can course of massive volumes of multi-page invoices, seize customized header and line merchandise fields, and code invoices to a number of customized dimensions, together with normal ledger, departments, tasks, and extra.”
Ottimate captures information right down to the road merchandise with 99.97% accuracy and pushes the knowledge to PVNG. The answer leverages in-house constructed AI and machine studying to code invoices to the GL inside PVNG. Translating data primarily based on historic information with machine studying and AI allows accountants to auto code particular line objects, similar to tomatoes, to the GL account.
“Ottimate is studying a lodge’s AP processes and eliminating human error from handbook information processing,” Wallach stated. “The expertise is repeatedly studying how every lodge processes invoices and enters the info accordingly. It’s an irreplaceable time-saving software.”
Finest-In-Class AP
PVNG – named among the many “Finest Finance & Accounting Software program” of 2024 by Resort Tech Report – options Accounts Payable, Accounts Receivable, Basic Ledger, Statistics, Financials, Financial institution Reconciliation, automated bill processing, a myriad of cost choices, and drill-down capabilities in monetary statements and experiences. It’s the first lodge accounting resolution to hook up with the Plaid Information Community. It could deal with single or multi-property accounting and might be deployed as a hosted service.
“Aptech and Ottimate are offering a seamless and environment friendly resolution for accommodations searching for best-in-class AP automation,” stated Jill Wilder, Aptech President. “This integration partnership signifies a shared dedication to giving accommodations end-to-end AP automation for a greater daily. By leveraging the strengths and experience of each firms, this collaboration will assist lodge accounting departments thrive. By means of revolutionary options and a customer-centric AP strategy, Aptech and Ottimate are making monetary processing extra streamlined and environment friendly.”
American Liberty Hospitality’s Poirier stated he’s grateful for the tech alliance.
“Bettering productiveness whereas staying value aggressive is a continuing want for lodge operators,” Poirier stated. “We admire the collaboration of those software program suppliers and encourage each to proceed to pursue different such enhancements for his or her prospects.”
For extra data on all Aptech options, go to http://www.aptech-inc.com.
About Aptech
Aptech Pc Methods, Inc., primarily based in Pittsburgh, Pennsylvania, is the one supplier of a completely built-in enterprise accounting, enterprise intelligence and planning ecosystem to the hospitality trade. All purchasers are firms like yours, which personal or handle accommodations. Its options assist prospects at each the company and property ranges perceive their monetary and operational information for sooner objective achievement. The corporate is famend for introducing enterprise intelligence into the lodge trade and gives a stable useful resource of hospitality professionals. Aptech is an IBM Software program Worth Plus associate and Premier Answer Supplier, in addition to a Prophix Premier Enterprise Accomplice. Integrated in 1970, Aptech’s state-of-the-art again workplace, true enterprise intelligence and enterprise planning options are 100% lodge particular. Options embrace PVNG, Execuvue® and Targetvue. Purchasers comprise over 3,500 properties – together with massive chains, multiple-property administration firms and single-site accommodations. Execuvue is registered to Aptech Pc Methods Inc. All different emblems are owned by their respective holders. For extra data, please go to www.aptech-inc.com.
About Ottimate (Previously Plate IQ)
Ottimate is AP automation AI that gives a extra revolutionary method for AP managers, approvers, controllers, and CFOs to work by means of your complete bill lifecycle. With mature deep studying capabilities powered by AI, Ottimate learns what you are promoting and AP course of right down to the road merchandise, supporting a customized approval and cost workflow. Ottimate eliminates over 90% of the handbook accounting course of and gives insights into invoices and spending, serving to finance professionals uncover alternatives for progress. This implies extra strategic enterprise selections for CFOs and a greater day-to-day for your complete workforce. Don’t simply automate AP. Ottimate it. To be taught extra, go to ottimate.com.
