Plate IQ, Compeat Announce Strategic Partnership | Food Newsfeed
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Plate IQ, Compeat Announce Strategic Partnership

October 02, 2018 Industry News
Industry News

Plate IQ, a technology company that helps restaurants improve and automate their Accounts Payable (AP) processes, today announced a partnership with Compeat, the only fully integrated restaurant accounting, back office, workforce and intelligence management software. Beginning immediately, Compeat and Ctuit users can leverage Plate IQ’s full suite of Accounts Payable automation tools to help manage back-of-house accounting tasks including vendor invoice capture and processing. The interface works seamlessly with Compeat’s Accounting, Inventory and Intelligence solutions, giving operators improved ability to track expenses, forecast food costs and make menu price decisions.

“One of the biggest challenges for restaurants deciding whether or not to adopt new technology is the question of whether—and how well—that technology will integrate with their current solutions,” says Bhavuk Kaul, CEO and Co-Founder of Plate IQ. “This partnership creates a solid technology stack that operators can use to run their back of house, to automate their invoice processing and accounts payable processes and gain real-time insights into their food costs, inventory levels, and more.”

Plate IQ solutions are specifically designed to help restaurants optimize their operations, unlock actionable expense data and reduce costs. The company plans to announce integrations with other third-party platforms soon.

“Plate IQ is the most advanced platform available for automating AP processes and gaining real-time insights into food costs,” adds Kristi Turner, CMO of Compeat. “Compeat’s partnership with Plate IQ provides our mutual customers with the “one stop shop” solution they need to succeed in today’s hyper-competitive market.”

“Plate IQ has allowed us to automate and streamline our entire back-end for accounting and inventory, alleviating many of the challenges associated with processing the dozens of deliveries we receive daily across our operating footprint,” says Luis Campuzano, CFO of Ciccio Restaurant Group. “Being able to import invoices directly into Compeat is a huge time-saver for our AP department compared to manually entering information and receipts.”

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