News

Compeat, Ctuit users now have PlateIQ automated AP tools

October 2, 2018

Restaurant managing software company, Compeat, is partnering with AP automation concern, Plate IQ, to give Compeat and Ctuit use of Plate IQ's tools to manage back-of-house accounting tasks, a news release said. The partnership offers operators improved expense-tracking, food cost forecasting and menu pricing capabilities. 

"We know that vendor electronic integration and invoice digitization solve a significant problem for our customers and drastically reduces their labor costs," Compeat CMO Kristi Turner said in the release. "On average, our customers have seen a 10X return on investment on labor costs with these types of solutions."

Plate IQ solutions are designed to help restaurants optimize operations, unlock actionable expense dataand reduce costs. The company plans to announce integrations with other third-party platforms soon, the release said.

"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," Plate IQ co-founder and CEO Bhavuk Kaul, said.

"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."