Plate IQ Pricing, Features, Reviews & Comparison of Alternatives

Plate IQ

Automated accounts payable for restaurants

3.5/5 (6 reviews)

Plate IQ overview

What is Plate IQ?

Plate IQ helps restaurant manage their invoices and provides real-time insight into their expenses. Just upload scanned invoices—we extract the data down to the line item, automatically code them to your GL accounts, and use that information to power your accounts payable and reporting.

Pay vendors with ease. In just a few clicks, send payments by ACH or have us send paper checks. Close the books in record time with automated statement reconciliation. Plate IQ identifies missing invoices and discrepant totals, cutting out hours of tedious work.

Get insight into vendor price changes and your expenses with intelligent reporting. Centralized reports update with each invoice processed so they're always up to date and everyone's working from the same information—no spreadsheets necessary.

Best of all, Plate IQ integrates with top restaurant accounting and inventory software including QuickBooks, Compeat, CTUIT, Xero, Netsuite, and more, eliminating the need for manual data entry and making accurate information accessible throughout your business.
plateiq.com

Pricing

Pricing options
Subscription
Value for money
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Devices

Business size

S
M
L

Markets

United States

Supported languages

English
Plate IQ screenshot: Sync restaurant invoice data to QuickBooks and other top restaurant accounting and inventory software.Automated Accounts Payable for Restaurants - Plate IQPlate IQ screenshot: Extract line item data from uploaded invoices. Save searchable copies in the cloud, not a filing cabinet.Plate IQ screenshot: Track expenses by category with reports that automatically update as invoices are processed.Plate IQ screenshot: Create approval policies that mirror your current processes.Plate IQ screenshot: Pay bills with just a few clicks. Sync payment information to your accounting software.Plate IQ screenshot: Stay organized. Plate IQ's dashboard puts your to-do list and vendor price changes front-and-center.Plate IQ screenshot: Track item pricing over time and across all your restaurant locations.Plate IQ screenshot: Automatically reconcile vendor statements. Follow up on missing invoices and discrepant amounts in seconds.Plate IQ screenshot: Manage all your restaurant locations from a single interface.

Plate IQ reviews

Excellent
3

Very good
0
Average
0
Poor
3

Terrible
0
Value for money
Features
Ease of use
Customer support
  3.0
  3.7
  3.7
  3.2
Arthur Bronfman

Best AP platform in the F&B game

Used daily for 2+ years
Reviewed 2020-01-10
Review Source: Capterra

Pros
Ease of use. Beautiful interface. Great customer service

Cons
Want more data! Please create more tools like hot list and spend analyze

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Sami Bourassi

Great software to manage invoice, cost recipes in real time and manage inventory from your phone

Used daily for 6-12 months
Reviewed 2017-02-02
Review Source: Capterra

I was always looking for a way to go paperless. With Plate IQ I just take pics of my invoice then access all my spendings. They digitize invoice at a line item level so I am able to see how my items prices are fluctuating. After setting up my recipes I know how they are changing in pricing as well. My bookkeeper uses the platform to automatically export invoices to Quickbooks and therefore we save money on the data entry work that used to be done in the past. Last we can now count our inventory more often without having to update item prices in an excel sheet.

Pros
item prices update and automation to our accounting system

Cons
They are still working on POS integrations

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Jeremy F

The Design Choices In Plate IQ Prevent It's Features From Becoming Worthwhile

Used daily for 6-12 months
Reviewed 2019-12-09
Review Source: Capterra

In a word? Bad. Plate IQ is very much a bait and switch operation. They promised one thing and ever since we started they have given excuse after excuse about why they aren't responsible for living up to the promises they gave us initially. Plate IQ will commonly state that things are working as intended because they often are. The problem is that the basic design of Plate IQ prevents it's features from offering any real benefit. As an example: After about 6 months on the platform we attempted to use their reporting functions to investigate what products we had purchased the most of. We immediately took notice of the fact that the report data could not be exported in any way and we were unable to filter it to look at quantity purchased instead of total cost. We settled for manually transcribing the data out of Plate IQ item-by-item and then building a report in Excel that could be manipulated better. We did this for our top 10 vendors and found that we had to spend hours adjusting the vendor names in Plate IQ as our purchases were split to multiple vendors. Once that was done we then found that our top 20 items for each vendor generally only showed data for 10-15 items as the system was using so many item duplicates. All in all we spend as much time trying to fix Plate IQ's mistakes as we are saving with it's features.

Pros
That Plate IQ platform is able to handle multiple store locations as well as export to both QuickBooks and Chef Tec desktop software. The platform is also able to allow you to choose to map invoices using either items or directly to GL accounts as you wish.

Cons
Plate IQ has some powerful features, but numerous basic design elements prevent those features from truly being useful. They boast of a powerful OCR system, but the truth is that the system only looks at data on an invoice until it has identified something from a previously created list of items that matches close enough. Their reps have referred to this as the "essence of the item" to me. The basic mantra seems to be that close enough is good enough. The OCR will often use variations of vendor names for different invoices and while you can "merge" the vendors together so that they all show up together when searching, they will all individually require separate item categorization. This also means that their reporting function will often only display part of your purchase data as the system will have split your invoices over multiple vendors with slight variations to their address. The system is supposed to allow you to save categorization for each item, but for the last two months there has been a bug in place that allows the system to automatically create a categorization for brand new items. Other times items that are used regularly will lose their categorization, thus creating a situation where a user must keep reviewing each and every invoice for accuracy.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 0/10

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Courtney Enzor

Plate IQ--great platform for restaurants to integrate with accounting software

Used weekly for 2+ years
Reviewed 2018-12-05
Review Source: Capterra

Able to account for recipe costs and was able to move to a completely digital filing system for invoice, vendor bills, etc. Ability to monitor price fluctuations for items needed for restaurant to see is clients are getting the most for their money. Houses inventory information which eliminates the need to keep in another spreadsheet outside of the systems. Bookkeeping/Accounting team has the ability to export invoices directly into accounting software which eliminates manual entry and reduces the margin of error.

Pros
Runs real-time updates and automates wonderfully with accounting systems (Xero, QBO).

Cons
Point of sale integrations are limited.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Olivier Dutil St-Pierre

Same as my other business

Used daily for 1-2 years
Reviewed 2019-12-09
Review Source: Capterra

Don t buy! that it

Pros
None really -look good -high expectation

Cons
-Liar sell rep -EXPENSIVE -DO NOT WORK!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 0/10

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Plate IQ pricing

Pricing options
Subscription
View Pricing Plans

Contact Plate IQ for detailed pricing information.

Plate IQ features

Activity Dashboard
Automatic Notifications
Multi-Location
Reporting & Statistics
Third Party Integration

API (109 other apps)
Billing & Invoicing (99 other apps)
Customer Database (110 other apps)
Customer History (95 other apps)
Discount Management (104 other apps)
Electronic Payments (86 other apps)
Employee Management (105 other apps)
Inventory Management (163 other apps)
Inventory Tracking (135 other apps)
Loyalty Program (124 other apps)
Order Management (121 other apps)
Order Processing (85 other apps)
POS (166 other apps)
Promotions Management (89 other apps)
Sales Reporting (102 other apps)

Videos and tutorials

Additional information for Plate IQ

Key features of Plate IQ

  • Real-time food costing
  • Automated accounts payable
  • Reporting
  • Automatically extract invoice data
  • General ledger coding by line item
  • Sync with existing accounting software
  • Price tracking
  • Spend analysis
  • Dashboard
  • Automatic price updates
  • Mobile app
  • Vendor payments
  • Third party integrations
  • Sync payments to general ledger
  • Accounting integration
  • View price variations
  • Hot list price alerts
  • Manage your invoices with ease.
  • Automated statement reconciliation
  • Integrate with top restaurant accounting software.
  • Get insight into your restaurant's expenses.
  • Always up-to-date cost reporting.
  • Automatically extract line item data from your invoices.
  • Sync invoice data with accounting and inventory software.
  • Automatically apply your GL codes to purchased items.
  • Store searchable invoices in the cloud.
  • Use our iOS app to upload snapshots of your invoices.
  • Manage all your restaurant locations from a single interface
  • Integrates seamlessly with QuickBooks and QuickBooks Online.
  • Reporting updates with each invoice processed.
  • Have immediate insight into expenses and vendor pricing.
  • Reports update automatically as invoices are processed.
  • Review your spend by category.
  • Integrate with top inventory and accounting software.
  • Stay organized with a dashboard to-do list.
  • Have immediate insight into your expenses.
  • Create custom approvals that mirror your current processes.
  • Create invoice approval rules based on vendor, item or cost.
  • Get detailed insight into your expenses.
  • Pay vendors by ACH.
  • Eliminate manual invoice data entry.
  • Contact Plate IQ for more information.
  • Pay by ACH or have us send paper checks.
  • Combine comments with @mentions to streamline processes.
  • Tag users on problematic invoices.
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Benefits

Save time. Plate IQ extracts the data from uploaded invoices, streamlines bill payments, and automates vendor statement reconciliation.

Improve the accuracy of your data. Reports update with each invoice processed so everyone always has the most recent information.

Gain insight. Your invoices power reports with line item detail—without manual data entry. Get immediate and up-to-date information vendor prices and expenses.

Integrate with your existing software. Plate IQ syncs with top restaurant accounting and inventory software.

Manage your costs. Find out about vendor price changes as they happen, not when your P&L is ready.