See how Plate IQ saves time and money for businesses of all sizes in hospitality, accounting, construction, and more.
Out of the four or five hundred invoices that we process weekly between all our brands, there may be 2 or 3 that need manual intervention. That success rate has ensured that we have reliability in our data and consistency for our operators.
“The invoices that already have items automatically mapped and everything take, probably, five seconds to process. We just make sure the store number's right, check the date, and then we move on. So it's cut down on our time drastically.”
We started with invoice management (in our case, Plate IQ) because digitizing invoice data saves a significant amount of time and substantially lowers the error rate relative to manual tracking of invoices. I was also looking for a system that interfaced with Toast, Plate IQ, and QuickBooks, and that could provide cloud-based analytics. Of the six systems I tested, COGS-Well is by far the best at simplifying vendor items. COGS-Well leverages (Plate IQ’s) data and allows us to use it to make decisions.
“A one-line invoice used to take us 30 seconds to process. With Plate IQ, it takes us 5. But here’s the thing: those 100-item grocery invoices used to take us about half an hour to key in. Now, that also takes 5 seconds.”
"With Plate IQ, we've been able to automate almost the entire AP process and get incredibly granular data that informs and improves all of our purchasing, costing, and accounts payable decisions."
When I started at Tender Greens, our AP department had three people. Today, even as our business grew from 17 to 24 locations, Plate IQ has cut our bookkeeping costs in half — and allowed us to move forward with an AP team of just one employee.