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Plate IQ adds Enhanced ACH Payments to core VendorPay product providing faster payment delivery times and enriched remittance information.
— Barrett Boston, CEO Plate IQ
SAN FRANCISCO, CALIFORNIA, UNITED STATES, February 23, 2023 /EINPresswire.com/ — Plate IQ, the leading AI and machine learning-powered end-to-end accounts payable (AP) and payment automation provider, announced today that it has added Enhanced ACH payments to its robust payment offerings.
Enhanced ACH payments enable much faster delivery times than traditional ACH payments, with next-day and even same-day options. They also include enriched remittance information attached directly to the payment making the reconciliation process faster and easier than ever before, creating a premiere payment experience for vendors and operators alike.
“Our mission at Plate IQ is to continue building holistic, vertically integrated solutions for each industry we serve, powered by world-class engineering and product teams. Combined with Plate IQ’s powerful Vendor Portal, the addition of Enhanced ACH payments gives payors and payees the ability to select the very best payment option for every scenario. We could not be more excited to add Enhanced ACH to our core VendorPay product.” – Barrett Boston, CEO.
Last year, Plate IQ onboarded over 100,000 new vendors and processed over 12 million invoices, with more than 70 million unique line items totaling over $15 billion in invoice payment volume. Plate IQ is expecting even greater growth in 2023 with new integrations, like their recent certification through Acumatica, and new features, including PO Matching, that will allow them to serve customers in nearly every business vertical.
Plate IQ helps businesses automate accounts payables on their terms with leading AI and machine learning. They simplify everything from invoice and spend management to payments for both recurring and one-time expenses with a cloud-first approach that enables remote work.
Plate IQ was founded in 2014, graduated Y Combinator in the summer of 2015, recently raised $160 million in Series B funding from FTV Capital, and now processes more than 70,000 invoices daily and over $2.5 billion in direct vendor payments annually – serving 30,000+ customers across restaurants, hotels, country clubs, automotive, retail, manufacturing, distribution, accounting services, and other industries.
For more information, please visit www.plateiq.com.
Ben Frank
Plate IQ
bfrank@plateiq.com
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