NexusPayables is accounts payable automation software from Nexus Systems. It includes on-site purchasing, POs, approval workflows, invoice data capture, budgets and actuals, vendor compliance, reporting, and it integrates with the user's GL accounting system.
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Plate IQ
Score 5.5 out of 10
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Plate IQ is an automated accounts payable platform.
NexusPayables is well suited for your invoice tracking and payments, especially for medium to large businesses. I would not recommend for smaller companies because I don't see the value for them. Once trained, the system is useful. However, the user interface is confusing without proper training and is not user-friendly. I highly suggest businesses invest in a specific set of people to be trained so that they can teach others to use the program.
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".
NexusPayables FAQ and Help sections are not extraordinarily helpful. They will answer some questions, but most often, I have to bother my accounting co-workers because of the way the system is set up NexusPayables themselves can't help me most of the time. They tell me to refer to the program administrator.
Our company uses both at the moment, and I find that Concur Invoice is a much more user-friendly interface that is easy to use, easy to navigate, and extremely efficient. Unfortunately, we only use Concur Invoice for personal expenses and company credit card reconciliations at the moment, which is why we use NexusPayables for vendors.
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.
In my opinion, it has had zero impact on ROI now that we are paying for an additional year.
Another negative is that we've spent a lot of time discussing this issue with Plate IQ, to no avail. They feel it's appropriate to charge a company for an entire year of service even though said company emailed to cancel prior to the end of the first year of service.
We also wasted a lot of time onboarding this company only to find out that the software left a lot to be desired.
