Plate IQ Tops $100M in Payments

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Plate IQ Tops $100M in Payments

11/09/2018

Plate IQ, announced a major operational milestone: the company has managed more than $100 million in vendor payments on behalf of clients.

Additionally, Plate IQ’s platform is now fully integrated with more than 1,100 third-party providers comprised of 200 electronic data interchange (EDI) and 800 retail and online platforms including Amazon, Costco and major banks, effectively creating the first restaurant-focused automated clearing house (ACH) payment network.  

Designed to eliminate human-error and create greater back-of-house transparency, Plate IQ offers a full suite of AP automation solutions for vendor payments, invoice reconciliation, and cost analysis. The company continues to rapidly expand its national footprint, with a portfolio of clients including Holiday Inn, Nobu, Union Square Hospitality, Eleven Madison Park, Five Guys, Jamba Juice, and more.

Plate IQ’s integrations allow operators to seamlessly link their existing back-of-house IT platforms, creating efficiencies and improved transparency across systems, departments and unit locations. Restaurants link their existing accounts with partners inside Plate IQ once, and the invoices start flowing into Plate IQ automatically. The company’s recent integration partnerships include Sysco, US Foods, Costco, ADP, Amazon, PG&E, UPS. Plate IQ further integrates with existing accounting software including QuickBooks  Online, Sage Intacct  and Xero.