Ottimate vs. Stampli

Plate IQ has been a perfect addition to our company. We had invoices with grease, creases, folds, shaded characters, etc, coming into our office all the time. The ability to scan, or even better, have invoices come through EDI, has completely changed the way we are able to handle invoicing.

Incentivized

Stampli is best for a compony that has a large amount of payables. It stores everything in one place and reduces the need to keep paper copies of everything. It is less appropriate in a situation where payment is due at the time of services since it is sent via USPS mail and you have to take into account the mail processing times.

Incentivized

• Payments; ACH, VCard and check. Domestic only however
• SKU tracking (the AI part that works reasonably well)
• Invoice Processing Automation (Think bill.com on steroids)

• Learning - Billy the bot learns much quicker than our previous OCR.
• Global lookup - we have multiple entities which creates a challenge for finding invoices entered in the wrong place. Stampli has removed this issue.
• Maximizing manpower - reduces the need for more personnel.

Incentivized

• EDI options could increase.
• BIll pay module could be improved.
• Some support issues could be addressed sooner.

Incentivized

• It would be awesome if I was able to search for a vendor and check number for proof of payment
• When asking questions regarding invoices it is a little confusing on how to make the requested changes.
• Webinar on use of Stampli would be appreciated.

Incentivized

I cannot imagine going back to pre-Stampli processes. Our jobs in the Accounting department (not just AP) have all become more engaging because we've cut out so much mindless, non-value added work: data entry, signing checks, stuffing envelopes, stamping envelopes, etc.

Incentivized

A lot of checks and balances in the system that are an accountant's dream - just takes some time to understand the new process to get up to speed.

Never an issue with downtime

Very fast and no issues with the Sage Intacct integration

They have a dedicated support person for each customer who actually knows the product.

Turnaround is usually within an hour or faster.

We have a dedicated rep (who was also our implementation rep--they stay with you after implementation) who we can email whenever needed and meet with every quarter. There is a chat option within the software that gets responded to by a real person within minutes.

Incentivized

Excellent documentation, step-by-step instructions

We lost an AP employee right as we were deciding to implement, so we had to speed up our timeline. We went from signing the contract to fully functional system within 4 weeks. We did not dedicate any more than 4 hours per week during the implementation.

Incentivized

PiQ costs $250K less than netsuite (at a minimum). Unless you have/need netsuite, no comparison.

Bill.com isn't targeted, and doesn't give the functionality that PiQ has for analytics by SKU.

Expensify is the closest in ease of use. They are not competitive; just very similar.

Stampli better suited our needs with the
infrastructure we have in place, met our international and workflow requirements, required minimal integration
set-up time without involving a 3rd party vendor, provided a
tailored implementation process, and offered an all-inclusive month-to-month
pricing structure.

Ease of deployment both domestic and international

• In my opinion, it has had zero impact on ROI now that we are paying for an additional year.
• Another negative is that we've spent a lot of time discussing this issue with Plate IQ, to no avail. They feel it's appropriate to charge a company for an entire year of service even though said company emailed to cancel prior to the end of the first year of service.
• We also wasted a lot of time onboarding this company only to find out that the software left a lot to be desired.

• decreases manual process - balances out the benefit to cost ratio in automation vs employee time
• ACH payments allow for elimination of lost checks research and reprocessing
• Vendor portal connection putt he tools in their hands to research any status they may need instead of internal employee time to research and provide