Accounting · head to head
Modern Treasury vs Ottimate
Modern Treasury
Accounting
Payment operations and ledger infrastructure that sits between your product and your own bank accounts
- From
- On request
- Rated
- -
Ottimate
Accounting
Invoice capture and accounts payable automation trained on food and beverage distributor formats
- From
- On request
- Rated
- -
The short version
- Each has a real cost: Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.; Ottimate nothing is published about price, and quotes are structured by location and invoice volume, so a group with a few high-volume sites and one with many low-volume sites can receive very different numbers for the same total spend
- They diverge on capability: Modern Treasury covers Multi-rail payment initiation, Ottimate covers Line-item invoice capture.
- Prices and features above were last checked on 1 September 2026.
Where they differ
Only the attributes on which Modern Treasury and Ottimate actually diverge.
| Attribute | Modern Treasury | Ottimate |
|---|---|---|
| Platforms | Web | Web, iOS, Android |
Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Accounting).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Modern Treasury
- Multi-rail payment initiation
- Bank connectivity
- Ledgers
- Automatic reconciliation
- Approval workflows
- Virtual accounts
- Compliance tooling
- Return and exception handling
Only in Ottimate
- Line-item invoice capture
- GL coding
- Approval routing
- Supplier payments
- Price change alerts
- Purchase order matching
- Digital invoice retrieval
What people use each for
The jobs each tool is most often brought in to do.
Modern Treasury
- A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot Ottimate
- A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Ottimate
- A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot Ottimate
- An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Ottimate
Ottimate
- A 40 site restaurant group whose bookkeepers key distributor invoices line by line to track food costnot Modern Treasury
- An operator that wants to know within a week when a supplier raises the price of an item outside the contracted schedulenot Modern Treasury
- A hotel group standardising accounts payable approvals across properties that each have their own general manager sign-off rulesnot Modern Treasury
- A finance team migrating from paper invoice files that needs digital retrieval from supplier portals rather than chasing branches for copiesnot Modern Treasury
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Modern Treasury
- You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
- Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
- Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
- It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
- The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.
Ottimate
- Nothing is published about price, and quotes are structured by location and invoice volume, so a group with a few high-volume sites and one with many low-volume sites can receive very different numbers for the same total spend
- The line-item extraction advantage is trained on food and beverage distributor formats, so accuracy on long-tail suppliers, service invoices and one-off vendors falls back to general OCR and needs human review
- It is an accounts payable layer, not an inventory or recipe costing system, so operators still need Restaurant365 or an equivalent for true plate costing and the value depends on that integration behaving
- The company has rebranded once already from Plate IQ, and much of the third party comparison material still uses the old name or wrongly attributes it to AvidXchange, which makes independent due diligence unusually hard
- Payment execution through the platform introduces a dependency on Ottimate for supplier relationships, and moving away later means re-establishing payment details with every vendor rather than simply exporting data
Pricing, plan by plan
Modern Treasury
On request- Modern Treasury Platform$undefined/year
- Platform access fee covering API, dashboard, infrastructure and support
- Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
- A single annual minimum commitment that both platform and usage fees count towards
Ottimate
On request- Ottimate$undefined/year
- Quoted by location count and invoice volume
- Payment rails may carry separate transaction charges
- Implementation and accounting system integration scoped separately
Which should you pick?
Choose Modern Treasury if
- You need multi-rail payment initiation.
- You also want bank connectivity.
Choose Ottimate if
- You need line-item invoice capture.
- You work on Web, iOS, Android.
- You also want gl coding.
Questions people ask
- Is Modern Treasury or Ottimate better?
- Neither clearly leads. Modern Treasury starts at On request and Ottimate at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Modern Treasury or Ottimate?
- Modern Treasury starts at On request and Ottimate at On request.
- Does Modern Treasury or Ottimate run on more platforms?
- Modern Treasury runs on Web. Ottimate runs on Web, iOS, Android.
- What is Modern Treasury best used for?
- Modern Treasury is most often used for a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand, a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts, a company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmes, an insurer handling premium collection and claims payment across several rails with approval controls and an auditable trail. Of those, a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand and a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts are not what Ottimate is typically brought in for.
- What can Modern Treasury do that Ottimate cannot?
- Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation. Ottimate covers Line-item invoice capture, GL coding, Approval routing, Supplier payments.
Answered from the vendors’ own pages
Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?
Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.
Ottimate: Is Ottimate owned by AvidXchange?
No. Ottimate is the rebranded Plate IQ and operates as an independent venture-backed company. AvidXchange is a competitor, not the parent.
Modern Treasury: What does it cost?
Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.
Ottimate: What was it called before?
Plate IQ. The company kept the same product and renamed it Ottimate.
Modern Treasury: Which rails are supported?
ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.
Ottimate: Does it work outside restaurants?
It will process any invoice, but the line-item extraction accuracy that justifies the price is tuned to food and beverage distributors. Other industries should test carefully before committing.
Modern Treasury: Do we still need our own compliance programme?
Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.
Ottimate: Does it replace Restaurant365?
No. It handles invoice capture, approval and payment. Recipe costing and restaurant-specific inventory stay in Restaurant365 or an equivalent.
Related pages
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