Former LivTech CEO to scale Ottimate’s AI-powered finance platform.
SAN FRANCISCO — Ottimate, the leading AI-powered accounts payable (AP) automation and payments platform, today announced the appointment of Shawn Lane as Chief Executive Officer to lead the company’s next phase of growth. The appointment comes as demand for solutions to complex AP challenges, including fraud prevention, price variations, and cost discrepancies, is at an all-time high.
Lane most recently served as CEO of LivTech, where he led the company through six years of growth and operational transformation. He previously held leadership roles at E2open, Mitratech, and RedPrairie.
Ottimate is the industry’s first AI-native solution designed to address the complexity of accounts payable for operationally intensive businesses with high invoice volume and multiple locations. Companies in industries such as hospitality, retail, and healthcare benefit not only from faster, more accurate invoice processing but also from protecting margins, gaining deeper visibility into vendor spend, and better managing financial risk.
“Even after decades of investing in accounting technology, most mid-market Finance teams still rely heavily on manual processes and struggle to reconcile their supply costs with their true cost to serve,” Lane said. He continued, “This is particularly true in industries with multiple locations and high volumes of suppliers. Ottimate’s mission is to bring the power of AI to these businesses to fully automate the invoice capture, reconciliation, and payment lifecycle, driving significant profitability and productivity gains that grab the attention of even the most skeptical CFO.”
Lane’s appointment follows a year of product expansion for Ottimate. New capabilities have improved invoice processing accuracy, detected fraud, introduced Conversational AP, and helped companies improve cash flow by identifying pricing anomalies and reducing overpayments.
According to Ottimate’s 2026 State of AP Maturity Report, only 4% of organizations have fully automated AP processes, with many still relying on manual workflows. The report also found that 41% of finance teams experienced invoice fraud or overpayments in the past year. Ottimate addresses these risks by identifying anomalies, enforcing policies, and providing real-time visibility into invoice risk.
“Finance teams are handling more invoices than ever while under pressure to do more with smaller teams,” Lane added. “Ottimate’s AI platform helps them manage that complexity with greater accuracy and control.”
To learn more about Ottimate, visit https://ottimate.com/.
ABOUT OTTIMATE
Ottimate is an AI-powered accounts payable automation platform that helps finance teams reduce costs, prevent overpayments, detect fraud, and enforce policy compliance across the invoice-to-payment lifecycle. Ottimate’s AI copilot goes beyond traditional automation by applying human-like intelligence—refined over a decade of real-world use and powered by advanced deep learning. Innovative finance teams use Ottimate to uncover opportunities across the AP lifecycle, improve efficiency, better manage cash flow, and strengthen profitability.
Contacts
SourceCode Communications for Ottimate
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