Plate IQ, founded in 2014, automates accounts payable operations. The software replaces manual data entry by digitizing your invoices — down to the line item. Next, it assigns each item proper codes, syncs the information to your accounting software, and provides purchasing analytics. Other features offered are one-click bill pay, inventory management, and cloud-based data storage. Plate IQ integrates with preexisting inventory and accounting software, and identifies discrepancies in ordering to discuss with vendors.
Plate IQ's software automatically lets you know about missing invoices or price discrepancies when spotted. Users can then choose to follow up and contact the vendor — from the same screen, a time saving feature — or dismiss the alert. With this level of automation, restaurant operators need not worry about losing money frivolously in the ordering realm.
Plate IQ was developed to meet the needs of the restaurant industry. With tons of chicken-scratched, tomato-stained invoices and overstretched staff — and with everything from cleaning supplies to fresh produce showing up on the same invoice — our founders realized restaurants had a problem to solve. We're on a mission to make life a little easier for anyone eager to spend less time on AP and more time growing their business.