Plate IQ, renowned in hospitality for its industry-leading AP automation solution, has announced a dedicated expansion effort in independent Grocery and Retail.
— Barrett Boston, CEO Plate IQ
SAN FRANCISCO, CALIFORNIA, UNITED STATES OF AMERICA, June 15, 2023/EINPresswire.com/ — Plate IQ, renowned in hospitality for its industry-leading AP automation solution, has announced a dedicated expansion effort in the independent Grocery and Retail markets. This marks the first of many growth initiatives that will see Plate IQ launch its revolutionary AI & machine-learning AP Automation tools in a number of new industries throughout the year.
Plate IQ will leverage its current substantial grocery and retail footprint, that includes clients like Cardenas Market, Leevers Supermarkets, The Save Mart Companies, etc. and strong strategic partnerships with FMS Solutions, NGA, and more, to be the continued leader of innovative AP solutions with independent retail operators nationwide.
““With inflationary and wage pressure, technology and AI solutions are a necessity to combat rising costs and razor thin margins in the grocery industry. For this reason, Plate IQ was a logical solution to allow FMS to minimize back office costs for our retailers”.” – Robert Graybill, CEO of FMS Solutions, the leading provider of bookkeeping and accounting services to the independent grocery industry.
With a platform designed to streamline and scale AP teams, Plate IQ’s solution supports line-item invoice digitization and automatic gl-coding, robust routing and workflow automation, scheduling and managing vendor payments of any type, and a detailed audit and approval log throughout the process. To further emphasize Plate IQ’s commitment to this space, they’ve been in development of a purchase order (PO) matching solution, set to launch later this summer.
“We’re honored to have partnered with clients like Cardenas Markets, Save a Lot, and more as well as industry leaders like FMS Solutions to build an innovative and tailored service for the retail and grocery market. Plate IQ is already the leading provider of AP automation solutions to the independent grocery industry, and we are excited to build new relationships and continue growing and supporting this space for years to come.” Barrett Boston, CEO of Plate IQ
To learn more about Plate IQ’s powerful AP automation solution for the grocery and retail markets, or to see any of these tools in action, please visit www.plateiq.com./
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, grocery, construction, manufacturing, distribution, accounting services, and other industries.
Plate IQ helps businesses and partners automate accounts payable 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.
For more information, please visit www.plateiq.com.
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