TrustRadius Insights
Plate IQ has been a game changer for users, providing a centralized solution for accounts payable management that saves time and improves …
Overview
What is Plate IQ?
Plate IQ is an automated accounts payable platform.
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Alternatives Pricing
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What is Tipalti?
Tipalti automates critical financial processes to drive efficiency, including accounts payable, mass payments, procurement, and expenses, all on one global finance automation platform that grows with the organization, automating, de-risking and simplifying finance.
Product Details
- About
- Competitors
- Tech Details
What is Plate IQ?
Plate IQ provides an automated AP software which replaces manual data entry by digitizing invoices down to the line item, and automatically assigns them to the proper GL codes, and syncing the information into an accounting software.
Plate IQ also offers one-click bill pay, advanced approval workflows, expense management, and cloud-based data storage.
Plate IQ Video
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Plate IQ Competitors
- BILL
- Sage Intacct
- SAP Concur
Plate IQ Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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- Pros
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Plate IQ has been a game changer for users, providing a centralized solution for accounts payable management that saves time and improves efficiency. Users have found Plate IQ to be a huge timesaver, allowing them to allocate their time more efficiently and work on other tasks. It has effectively reduced manual labor and streamlined the AP process, enabling users to manage and track their food costs more effectively. The Vendor Pay feature of Plate IQ has received high praise from users, as it allows them to track payments in real time. Accessing invoice copies and price increases without the need for excessive paperwork has been another valuable feature appreciated by users. Additionally, Plate IQ automates food service invoice coding, improving accuracy and saving time. With its integration batch file for Microsoft GP, Plate IQ has made loading invoices into accounting systems for payment and storage much easier. The software's ability to search through months of paper invoices has also been highly beneficial in terms of time savings for users. In addition to these benefits, Plate IQ has provided a centralized location for AP history and quick access to invoices, payments, and vendor information. GMs and Chefs have experienced significant time savings with Plate IQ as it reduces the time needed to balance invoices. Another significant advantage of Plate IQ is the elimination of manual entry of invoices into accounting software, saving users both time and effort.
Smooth User Interface: Many reviewers have praised the smooth user interface of the product, stating that it is intuitive and easy to navigate. Some users have mentioned that they appreciate how responsive and well-designed the interface is, making it a pleasure to use.
Efficient Performance: Several reviewers have commented on the efficient performance of the product. They have noted that it performs tasks quickly and smoothly, allowing them to complete their work efficiently. Some users have also mentioned that they are impressed with how fast the product responds to commands and handles large datasets.
Reliable Functionality: A significant number of reviewers have highlighted the reliable functionality of the product. They have expressed satisfaction with its stability and consistency in delivering accurate results. Users appreciate that they can rely on the product's features and functionalities without experiencing frequent crashes or errors.
Cons:
- Invoice reading errors: Many users have expressed frustration with the software's invoice reading capabilities, noting multiple errors that require them to manually reassign products on a daily basis. This has caused wasted time and significant frustration.
- Lack of integration with Aloha: Several users have mentioned their desire for the software to integrate with Aloha, their front-of-house operations software. The absence of this integration creates inefficiencies and hampers smooth workflow processes for these users.
- Inadequate reporting functionality: Users have found the reporting functionality of the software to be lacking in several aspects. They have cited issues such as slow performance, inability to handle large amounts of data, and a lack of user-friendly features. These limitations hinder users' ability to generate insightful reports and analyze data effectively.
Users commonly recommend the following based on their experiences with Plate IQ:
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Take the time to set up the software correctly and learn how to use it before starting to use it. Users emphasize that proper implementation and understanding of the software's features are crucial for its effective use.
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Create procedure documents specific to your company/industry to help your team. Users suggest documenting procedures tailored to their organization's needs, which can assist in streamlining workflows and ensuring consistent processes.
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Make sure that the setup of the software is done properly. Proper setup is highlighted as an essential step in using Plate IQ effectively. Users recommend ensuring that all settings and configurations are accurately established.
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Reviews
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May 12, 2023
Young but quite robust.
Score 9 out of 10
Vetted Review
Verified User
Our backend system is called Jonas. It is archaic.
I have fully replaced all AP functionality with PiQ as the new system of record.
I simply do a monthly journal from PiQ of Invoices and payments from PiQ to Jonas (1/2 hour typically).
PiQ does the following for us (that we didn't have):
Outsourced payment execution.
Vendor document DMS.
Future payment scheduling.
Approval audit trails, and approval rules enforcement.
Product pricing by SKU history.
- Payments; ACH, VCard and check. Domestic only however
- SKU tracking (the AI part that works reasonably well)
- Invoice Processing Automation (Think Bill.com on steroids)
- 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.
- Tracking spend by vendor and account.
- Tracking sku costs (including imported from external systems)
- Executing payments.
66.66666666666667%
6.7
80%
8.0
- 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.
No: The basic support has been more than adequate.
Yes
Yes. I totally forget what the issue was. It got resolved that quickly.
A feature marks any invoice from a given vendor as "paid".
This did not work for one vendor. It was a "ghost" error (the DB flagged it as paid, so issue was some sort of corruption in the data).
Engineering fixed it within a week.
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
- Workflow
- Support
- EDI options could increase.
- BIll pay module could be improved.
- Some support issues could be addressed sooner.
- 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.
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.