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SAN FRANCISCO, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Plate IQ, a technology company that helps restaurants improve and automate their Accounts Payable (AP) processes, today announced that foodservice and hospitality organizations in all 50 U.S. states are using Plate IQ’s leading platform to better manage vendors, streamline their operations and improve their bottom-line. Plate IQ works with broad base of clients ranging from independent full-service restaurants to some of the country’s largest chains and franchisees.
“When we launched Plate IQ in 2014, our hypothesis was that operators would be interested in more accurate vendor data to help them better understand and plan their purchases,” said Ram Jayaraman, Chief Technology Officer and Co-Founder of Plate IQ. “That hypothesis proved correct, and since then we have been fortunate to grow our business to all 50 states, processing more than $10 billion in invoices along the way. As we continue to expand our footprint and partner with more operators, our AI-enabled platform will only grow more robust and valuable.”
Designed to eliminate human-error and create greater back-of-house transparency and efficiency, Plate IQ offers a full suite of AP automation solutions for vendor payments, invoice reconciliation and cost analysis. The company’s clients include Tender Greens, NoHo Hospitality, Holiday Inn, Jamba Juice and W Hotels. Plate IQ also integrates with more than 800 different accounting, vendor and inventory systems to work seamlessly with its clients’ existing software.
"Plate IQ’s platform can benefit any operator, from smaller, independent restaurants to category leaders with hundreds of units,” added Jayaraman. "We are thrilled and humbled that so many leading restaurants and other hospitality industry providers are using Plate IQ to improve their businesses. We look forward to expanding our platform so that it remains the most advanced offering in AP automation.”
About Plate IQ
Based in San Francisco, Plate IQ is the leader in cloud-based AP automation tools for the restaurant industry. Plate IQ’s proprietary optical character recognition and machine learning technology fully eliminates manual data entry by accountants, helping restaurants optimize their operations, unlock actionable expense data and reduce costs – all through automation.
Plate IQ has scaled rapidly by focusing on building the best technology for end-users, giving them the ability to reconcile statements, providing auditors direct-view access, creating APIs to all other cloud-based platforms in play, and more.
Today, having processed more than $10 billion in invoices, Plate IQ works with some of the biggest names in the food and hospitality industries. The company works with more than 10,000 restaurants in the U.S. and has doubled in size over the past 12 months. For more information, visit www.plateiq.com
Quinn Kelsey ICR