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Plate IQ Accounts Payable Automation
Plate IQ is accounts payable automation software that saves time, increases data accuracy, and provides timely insights into restaurants’ spend. We use OCR technology to extract invoice data down to the line item, automatically coding purchases to the appropriate GL. Invoice information also powers:
• Custom Approval Rules: Route invoices for approval based on amount, vendor, or expense account
• Bill Pay: Send payments via ACH electronic transfer, paper check, or vCard for cash back
• Statements: Reconcile vendor statements with uploaded invoices
• Insights: Get alerts for significant price changes on recently purchased items, analyze historic pricing and compare locational spend
• The Plate IQ Card: Expense management for every business. No credit checks and all of the control of a corporate debit card.
Plate IQ integrates with accounting and inventory softwares, virtually eliminating data entry from the accounts payable process and making it easier for users to manage their spend and track vendor rebates.
Key features
- Invoice Management: Map invoice items to your chart of accounts only once. The next time you receive those items, Plate IQ will code them correctly to your GL.
- Bill Pay: Unlimited transactions & approvers, one flat monthly cost. Earn rebates on spend. Schedule payments early and pay vendors directly without mailing a check
- Spend Management: No credit check required- Issue virtual or physical cards to every location, department, or employee and keep control of your spend.
- Insights: Explore your spending by GL account, category, location, time period, and more. Maintain contract compliance from your vendors.
About Plate IQ
Plate IQ was founded in 2014, graduated Y Combinator in the summer of 2015, and launched at 100 locations in early 2016. Since then, we've processed more than $5 billion worth of invoices and tracked more than 1 million SKUs. We now serve more than 15,000 customers, including industry leaders such as Union Square Hospitality Group, Petit Crenn, Tender Greens, Andaz, Thomas Keller Group, and Vino Volo.
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