Accounts Payable Automation Software
Automate AP from Invoice through Payment
Save time & money by automating your AP process with the only End-to-End AP automation tool that carries unlimited customizations & unmatched approval policies.
Eliminate Manual Data Entry & Pay Invoices in One Platform
Plate IQ handles everything from invoice digitization to bill pay.
Spend 80% less time on invoices and focus on the work that matters.
Capture Everything Down to the Line Item
Plate IQ automatically captures header data and line-by-line details like product names, costs, and quantities.
AI Learns Your AP Process & Automatically Codes to Your GL
Map invoice items to your chart of accounts once. The next time you order those items, Plate IQ will code them correctly to your GL.
Works Seamlessly With Your Accounting Platform of Choice
Route Every Invoice to the Right Approvers & Assign for Payment
Your imagination is the only limitation to the complexity of your routing, approval, and payment process with Plate IQ.
Make Every Approver Happy
Some clients want to approve every invoice. Some want to see none. Plate IQ accommodates any approval process with approval routing based on things like:
- GL Account
- Min / Max Total
- Method Received
- Time Received
Process and Pay Invoices In One Seamless Workflow
Schedule and approve payments right in your AP platform with Plate IQ Bill Pay.
- Schedule invoice payments using checks, ACH, or virtual cards
- Approvers can sign off on payments remotely
- No more mailing checks or late payments
- Auto-Pay recurring expenses like utilities and rental fees
- Earn competitive cash back on vendor payments
Earn Cash Back on Your Spend
- Earn competitive cash back on Bill Pay when you use Plate IQ cards to pay eligible vendors
- Turn your AP department into a profit center with monthly rebates on virtual card and Enhanced ACH spend
Pay Vendors Directly Without Ever Writing Another Check
- Pay any invoice online with virtual cards, ACH, or let us mail a check for you
- Unlimited transactions and approvers
- Earn cash back on qualified vCard and enhanced ACH payments
Frequently Asked Questions
Accounts Payable (AP) Automation refers to the utilization of advanced technology to streamline and automate the various processes involved in accounts payable. In traditional AP workflows, a significant amount of time is spent on manual tasks such as data entry, invoice sorting, and approval routing. These activities are not only time-consuming but are also prone to human error. AP Automation transforms this by using algorithms, machine learning, and other technological tools to remove manual elements, thereby speeding up the entire workflow. This facilitates real-time tracking and visibility into the entire accounts payable process, making it more efficient and less error-prone.
AP Automation works by using technologies like OCR and AI to capture, process, and pay invoices automatically. This can significantly reduce errors, save time, and improve visibility into your finances.
Other software stops at just digitizing the same tired manual process you’re doing now. Plate IQ offers AP automation AI that works with you and for you across the entire end-to-end AP lifecycle to improve and optimize it.
The advantages of AP Automation are numerous and have an immediate, positive impact on the financial health and operational efficiency of your business. All businesses have to do AP, but no single accounts payable process is the same. Plate IQ adjusts to suit your unique needs and works late so you don’t have to.
Some of the key benefits include:
– Reduced Processing Costs: Automated systems can process invoices and payments at a fraction of the cost of manual processing, which often involves labor, paper, and administrative expenses.
– Faster Invoice Approval Times: With automation, invoices can be approved in a matter of minutes rather than days, as the system can instantly route them to the appropriate departments and individuals.
– Boost Cash Flow: Experience AP that pays you back! Boost cash flow by ensuring you capitalize on vendor-sponsored payment discounts, eliminate the occurrence of unapproved invoice spend, and open the door to earning cash back with payment types such as virtual cards.
– Improved Accuracy: Automated data capture and validation features dramatically reduce the likelihood of errors, which can be costly and time-consuming to rectify.
– Enhanced Security: Robust security protocols can be implemented more easily with automated systems, providing features like role-based access and encrypted data storage.
– Real-Time Visibility: With AP Automation, you get real-time insights into your entire AP process, from invoice status to bottlenecks in the approval process, allowing for better decision-making.
Plate IQ offers an advanced AP Automation solution that uses AI and machine learning for highly accurate invoice digitization. Our software is easy to implement, user-friendly, and integrates seamlessly with your existing accounting systems.
Our software keeps everything up-to-date via deep ERP integration capabilities, detailed mapping, source-documentation links, and custom workflows. Discover the four strategies for successfully implementing AP automation today.
Absolutely, integration capabilities are one of the cornerstones of Plate IQ’s AP Automation solutions. We understand that businesses have existing workflows and tools, and disrupting that could be counterproductive. That’s why our software is designed to seamlessly integrate with many of the popular accounting software platforms you may already be using, such as QuickBooks, NetSuite, or Sage. This ensures that you can effortlessly sync data across platforms, enabling a smoother transition to automated systems without having to upend your current operational procedures.
We are constantly adding new ERP integrations and have the ability to send a custom CSV file to any ERP or accounting software you are using.
Plate IQ’s AP Automation solution uses industry-standard encryption and security measures to protect your financial data. We continually invest in security best practices to ensure that our client’s data stays safe and secure. As a part of an on-going effort, we’ve successfully completed our SOC 2® report. The examination was conducted by A-LIGN, a technology-enabled security and compliance firm trusted by more than 4,000 global organizations to help mitigate cybersecurity risks.
In general automated AP mitigates fraud. We further reduce the risk of fraud by providing complete visibility into the AP process, offering custom approval workflows that make controlling spend easy, and syncing everything with your chosen ERP or accounting software.
Effective cash flow management is vital for any business, and this is where AP Automation really shines. By providing real-time visibility into your accounts payable, you can better manage and forecast your cash outflows.
No more surprises or last-minute scrambles to cover bills you forgot were due. Furthermore, the system can highlight opportunities for early payment discounts and, conversely, help you avoid late payment penalties by setting reminders or even automating payments. This level of control and foresight can result in significant cost savings and help maintain positive relationships with suppliers, thereby optimizing your cash flow management strategy.
Yes, Plate IQ’s AP Automation solution is cloud-based, so you can access it anytime, anywhere, from any device with an internet connection. Transition to a digital file cabinet with Plate IQ, where you can search for invoices by any detail, manage it all remotely, remove paper, and access accurate reporting. We store your invoices securely for up to seven years!
Plate IQ offers comprehensive support for its users. Our support team is available via email, phone, and live chat to assist with any issues or questions you may have.
Learn more about our support team. We believe in giving our clients the tools and dedicated support they need to create their own accounts payable success stories!
We also provide a wealth of resources such as guides, tutorials, and FAQs on our website.