Fintech Partners with Plate IQ
Financial-Information-Technologies, LLC (“Fintech”), the leading business solutions provider for the beverage alcohol industry, has partnered with Plate IQ, a transformative invoice automation tool for the hospitality space. This collaboration will offer a comprehensive solution that empowers users with clean and accurate purchase data for all cost-of-goods. Together, Plate IQ and Fintech’s PaymentSource™ offer an unmatched payment and data solution that seamlessly integrates into back office systems. This will allow hospitality operators to completely eliminate the manual entry of invoice data, inclusive of alcohol, and automate accounts payable processes, while streamlining overall business operations to save time and money.
“We are excited to welcome Plate IQ as a strategic partner. By integrating, we’ll be able to offer the industry an end-to-end payments and data solution giving them clear visibility into their alcohol spend, which will help them maintain expected margins and grow profits,” said Tad Phelps, President of Fintech.
“We at Plate IQ are extremely excited to formalize our partnership with Fintech. We’ve both excelled in eliminating the use of paper in the restaurant industry, and have been working together for the last few years to bring our synergistic solutions to thousands of restaurants across the nation. The continuation of these benefits will give our mutual clients even more time to spend with their staff and customers,” said Bhavuk Kaul, Co-Founder & CEO Plate IQ
This unique collaboration will not only eliminate current manual payment processes affecting profitability, but will empower users with clean and accurate purchase data for all products, pinpointing ordering opportunities, reducing manual invoice research, and helping them purchase smarter. This alliance addresses clear industry challenges and leaves operators with more time to focus on customer service and front of the house operations.
About Plate IQ
Based in San Francisco, Plate IQ is the leader in cloud-based AP automation tools for the restaurant industry. Plate IQ’s proprietary optical character recognition and machine learning technology fully eliminates manual data entry by accountants, helping restaurants optimize their operations, unlock actionable expense data and reduce costs – all through automation.
Plate IQ has scaled rapidly by focusing on building the best technology for end-users, giving them the ability to reconcile statements, providing auditors direct-view access, creating APIs to all other cloud-based platforms in play, and more.
Today, having processed more than $5 billion in invoices, Plate IQ works with some of the biggest names in the food and hospitality industries, including Jamba Juice, Union Square Hospitality and Thomas Keller Group. The company works with more than 5,000 restaurants in the U.S. and has doubled in size over the past 12 months. For more information, visit www.plateiq.com
Fintech, the leading solutions provider for beverage alcohol management, and regulatory information resource, offers a OneSource® solution with a suite of profit-building products and services for alcohol distributors and retailers.
With decades of industry experience offering unwavering dependability and trust, Fintech empowers users with information to increase margins and maximize operating efficiencies within their beverage alcohol category. By anticipating client needs, nurturing relationships, and growing partnerships within the industry, Fintech continues to deliver cutting-edge, strategic solutions that range from purchase order management, reconciliation, and data reporting, to pricing and promotion communication, payment compliance adherence, and regulatory resource connectivity.
Working with thousands of alcohol distributors nationwide, Fintech links distributors to alcohol retailers, and manages data transformation for over half a million relationships, adding thousands of connections every month. For more information on how Fintech can better your business, visit our website and follow us on Facebook, Twitter, and LinkedIn.