Basware Purchase to Pay vs. Plate IQ

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Basware P2P
Score 4.5 out of 10
N/A
Finnish company Basware offers Purchase to Pay (P2P), their flagship e-procurement application which also features accounts payable (AP) Automation, Contract Lifecycle Management, travel and expense management, and supporting analytics.N/A
Plate IQ
Score 8.5 out of 10
N/A
Plate IQ is an automated accounts payable platform.N/A
Pricing
Basware Purchase to PayPlate IQ
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Basware P2PPlate IQ
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsConact vendor for pricing information.
More Pricing Information
Community Pulse
Basware Purchase to PayPlate IQ
Top Pros

No answers on this topic

Top Cons
Features
Basware Purchase to PayPlate IQ
Payment Management
Comparison of Payment Management features of Product A and Product B
Basware Purchase to Pay
-
Ratings
Plate IQ
8.0
1 Ratings
29% above category average
Customizable Approval Policies00 Ratings9.01 Ratings
Financial Document Management00 Ratings1.01 Ratings
Payment Status Tracking00 Ratings8.01 Ratings
Payment Audit Trail00 Ratings10.01 Ratings
Duplicate Bill Detection00 Ratings9.01 Ratings
Advanced OCR00 Ratings10.01 Ratings
Electronic Funds Transfer00 Ratings9.01 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
Basware Purchase to Pay
-
Ratings
Plate IQ
6.7
1 Ratings
22% above category average
Automated Accounts Payable Processes00 Ratings9.01 Ratings
Vendor Management00 Ratings8.01 Ratings
Tax Form Preparation00 Ratings3.01 Ratings
Best Alternatives
Basware Purchase to PayPlate IQ
Small Businesses
MIP Fund Accounting
MIP Fund Accounting
Score 8.5 out of 10
Sage Intacct
Sage Intacct
Score 8.8 out of 10
Medium-sized Companies
Precoro
Precoro
Score 9.7 out of 10
Esker
Esker
Score 8.6 out of 10
Enterprises
Oracle Cloud ERP
Oracle Cloud ERP
Score 8.7 out of 10
Webexpenses
Webexpenses
Score 8.6 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
Basware Purchase to PayPlate IQ
Likelihood to Recommend
8.0
(6 ratings)
8.5
(2 ratings)
Likelihood to Renew
5.4
(5 ratings)
-
(0 ratings)
Support Rating
-
(0 ratings)
9.0
(1 ratings)
User Testimonials
Basware Purchase to PayPlate IQ
Likelihood to Recommend
Basware
I would definitely recommend using Basware Purchase to Pay in your organization, it handles high amounts of invoices efficiently and you can perform your work with ease. I am acting as a Basware superuser in my team so I know this software thoroughly and it rarely gives any issues, even errors are described in a clear way so the user knows what needs to be resolved/what is missing.
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Plate IQ
It is well targeted at restaurants and similar service organizations with complex COGS. It dovetails well with complementary systems like FinTech payments. It wasn't designed by accountants, so there is a bit of roughness. Reporting is very limited: would like to see some SQL / build your own report functionality. Lookups are reasonably robust (filter for amount, time, vendor, etc). It is occasionally unstable but recovers gracefully. From our use case, it would be preferable to have the user approving the invoice ALSO have the ability to attach documents. This is left to the payment approver, who in our case is the "check signer".
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Pros
Basware
  • It's easy to process invoices in a very short amount of time due to the fact that you can save your frequently used fields as favorites
  • The system is extremely easy to use as there are only a few steps required for complete processing of invoices
  • The ability to create and save templates of commonly used coding makes coding of invoices is fast and easy
  • Often times no interaction is even needed for invoice processing as received items and POs will match up on the back end with no intervention
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Plate IQ
  • OCR
  • Workflow
  • Support
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Cons
Basware
  • Once you cancel the document in "cancellation queue" it cannot be restored or viewed.
  • Sometimes but relatively rarely the program opens slowly.
  • In rare instances the program freezes and needs to be restarted.
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Plate IQ
  • Non-invoice document management still lacking.
  • Merging multiple pages into one invoice is an art (and often not possible). Requires very significant manual intervention.
  • Does not have 1099 tracking (in theory my ERP does this....but I keep my vendors in PiQ.
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Likelihood to Renew
Basware
We will continue using product and continue renewing as it is widely used product and it has been well adapted by users in our organization. The product is expensive but we will use it. Hopefully the product bugs will be fixed in future and they will provide more HA architecture feather for Basware.
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Plate IQ
No answers on this topic
Support Rating
Basware
No answers on this topic
Plate IQ
They have a dedicated support person for each customer who actually knows the product.
Turnaround is usually within an hour or faster.
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Alternatives Considered
Basware
Basware was not my selection as I was not with the company at the time. It was easy to learn and we have maintained a good working relationship with Basware. It is a very good way to process the workflow of invoices from start to finish
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Plate IQ
We used DocuWare first; great experience; however, it was not made specifically for restaurant clients like Plate IQ is. Plate IQ does a much better job of recognizing common items, and they've continued to add a function that is important for restaurant owners. Restaurant 365, we felt, was trying to be a complete package of accounting/AP/AR/inventory. After looking at each piece, we didn't feel that each of them was as strong as the other.
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Return on Investment
Basware
  • faster processing of invoices due to short step process
  • it's user friendly so not much training is needed to use the system
  • templates and favorites decreases time spent
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Plate IQ
  • We were able to thin staff and keep the same performance.
  • Accounts payable takes much less time than it used to.
  • I would say the overall ROI was almost immediate for us as we were able to thin staff and do the same amount of work.
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