Ottimate

<div>Our backend system is called Jonas. It is archaic.</div><div>I have fully replaced all AP functionality with PiQ as the new system of record.</div><div>I simply do a monthly journal from PiQ of Invoices and payments from PiQ to Jonas (1/2 hour typically).</div><div>PiQ does the following for us (that we didn't have):</div><div>Outsourced payment execution.</div><div>Vendor document DMS.</div><div>Future payment scheduling.</div><div>Approval audit trails, and approval rules enforcement.</div><div>Product pricing by SKU history.

</div>

• Tracking spend by vendor and account.
• Tracking sku costs (including imported from external systems)
• Executing payments.

• This is worth about 1 person-year of book-keeping. It permits us to do things we were not doing.
• It provides for functional transferability; in our prior system a vacation meant vendors didn't get paid.
• It is pretty easy for line managers to use. This increases institutional visibility.
• The Spend function (virtual credit cards) also saves time....that we didn't have. Perhaps 2-3 person-weeks per year.

NetSuite ERP, Bill.com and Expensify

Jonas Hotel Management, Paylocity

We use Plate IQ to receive, approve, and pay all invoices. Before Plate IQ, we had Physical invoices delivered in person or by mail, and the process was much more time-consuming and error-prone.

• OCR
• Approvals
• Billpay

• 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.

DocuWare and Restaurant365

We use Plate IQ to automate the coding for all of our invoices for 5 restaurant locations. This technology was helpful in reducing the amount of time our operations leaders had to spend coding invoices on a weekly basis. Overall, I would guess our GM's and Chef's would save 1 hour per week by using Plate IQ.

• 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.

BILL