Automated the invoice capture process, cut AP time significantly

Need to work on ability to capture additional data (i.e. utility usage) for other necessary analysis.

I like the amount of time it cuts down from hard keying invoices, signing checks and mailing checks.

Length of time it takes checks to get to vendors and the amount of "lost" checks in the mail.

In a word? Bad. Plate IQ is very much a bait and switch operation. They promised one thing and ever since we started they have given excuse after excuse about why they aren't responsible for living up to the promises they gave us initially. Plate IQ will commonly state that things are working as intended because they often are. The problem is that the basic design of Plate IQ prevents it's features from offering any real benefit. As an example: After about 6 months on the platform we attempted to use their reporting functions to investigate what products we had purchased the most of. We immediately took notice of the fact that the report data could not be exported in any way and we were unable to filter it to look at quantity purchased instead of total cost. We settled for manually transcribing the data out of Plate IQ item-by-item and then building a report in Excel that could be manipulated better. We did this for our top 10 vendors and found that we had to spend hours adjusting the vendor names in Plate IQ as our purchases were split to multiple vendors. Once that was done we then found that our top 20 items for each vendor generally only showed data for 10-15 items as the system was using so many item duplicates. All in all we spend as much time trying to fix Plate IQ's mistakes as we are saving with it's features.

That Plate IQ platform is able to handle multiple store locations as well as export to both QuickBooks and Chef Tec desktop software. The platform is also able to allow you to choose to map invoices using either items or directly to GL accounts as you wish.

Plate IQ has some powerful features, but numerous basic design elements prevent those features from truly being useful. They boast of a powerful OCR system, but the truth is that the system only looks at data on an invoice until it has identified something from a previously created list of items that matches close enough. Their reps have referred to this as the "essence of the item" to me. The basic mantra seems to be that close enough is good enough. The OCR will often use variations of vendor names for different invoices and while you can "merge" the vendors together so that they all show up together when searching, they will all individually require separate item categorization. This also means that their reporting function will often only display part of your purchase data as the system will have split your invoices over multiple vendors with slight variations to their address. The system is supposed to allow you to save categorization for each item, but for the last two months there has been a bug in place that allows the system to automatically create a categorization for brand new items. Other times items that are used regularly will lose their categorization, thus creating a situation where a user must keep reviewing each and every invoice for accuracy.

Great! I use Ottimate everyday to process our invoices. As a retail restaurant business, we process hundreds of invoices on a weekly basis.

Previously, it used to take hours to input all the invoices manually. Ottimate processes all the invoices automatically and exports it directly to our accounting software directly.

No downside I can think of at this time.

Overall this system does well. There are a couple small things that are always bothersome. It needs a little bit more work on linking GL splits for basic items that it should clearly read. Limes on an invoice it should be able to read that and put it as produce.

Being able to see invoices across the whole company.

How long it takes to have a check produced and not able to track them.

We liked that it did what was advertised. Read our invoices and coded them thru AI technology.

After using the service for 14 months, we decided to leave since we were onboarding Margin Edge which is a much more robust analytics software for restaurants. Even though we had only signed a one year agreement, they are claiming that since we didn't cancel before the end of the one year term, that our contract auto-renews for another year. Also, if we'd like to leave now, they need us to buyout the ENTIRE rest of the year. Obviously the people at Plate IQ don't get it. NO ONE WANTS TO BE TIED TO A CONTRACT ANYMORE. Reputable software companies say, "if you're not satisfied with our service, you are welcome to leave without penalty". These archaic policies remind very much of the unscrupulous policies of the Merchant Service Providers we all know and love. Good Riddance Plate IQ! With policies like these, you won't be around long.

The experience to date is perfectly nice and duperb!

It is easy to check on invoices. Controls are in place for examle approval and also codings.

I am not able to see the status of invoices if paid already. Is this a feature that is available in system?

I like that Ottimate makes taking care of AP tasks easy. The reports are easy to use and the approval process is seamless.

Sometimes it doesn't read the vendor and invoice correctly which can cause issues.

Overall, it integrate smoothly with the system and easy to learn and use.

Ease of access and use. Can easily integrate with GL accounting systems.

There's no customable report that can be extracted. Only those built in the system.

I have never had to use an invoicing system before but I can't imagine one better than Ottimate.

Ottimate is straight-forward and easy to use.

Date type will change back to "last 3 months" even if I change it to "any time"

The biggest benefit of using Plate IQ is that it is saving our company money! Plate IQ continually processes invoices and payments even while you sleep. Because of Plate IQ, we have eliminated our AP department (saving the company loads of money) while improving our relationships with our vendors by getting payments out accurately and timely. We no longer need a team of employees to process invoices and cut checks.

Plate IQ has many features that help accountants be more efficient and produce accurate financial reports. The invoice processing is a huge benefit, especially if your company has hundreds of invoices coming in every month. Plate IQ scans those invoices, codes them for you and has them ready for you to schedule payment. Easy! Vendors can even send their invoices directly to Plate IQ for processing and the invoices will be ready for you to pay in a very short period of time. Invoices can be approved at multiple leadership levels within your organization. Once invoices have been scheduled for payment, payments go out quickly via check, ACH or virtual card. You can let the vendor choose how they would like to receive payment! Another huge benefit is the accounting integration. Plate IQ transfers invoices and payments directly to your accounting software automatically! All the while Plate IQ is handling your Accounts Payable needs, and helping you to create accurate financial data, you are free to work on other important matters! Time-efficient, accurate, and easy. Winning!

We started with Plate IQ before much of the automation was implemented. Remembering to go in and export invoices and payments to the accounting software was tedious. I am pleased to see that much of this is now automated - if only the Spend Management credit cards could be automated too!

Becoming a paperless AP team and with minimal date entry, the OCR really assists with this and allows us and the stores to focus on other things

I love how easy it is to upload and export invoices. The accuracy rate is very high and it makes the AP Process for us so easy and also saves us so much time.

I don't think there is a whole lot that PIQ is missing, the only thing I would recommend would be cleaning up the dashboard and maybe making it a little fresher

With our company growing and adding more hotels, having an online, centralized AP solution has been a game changer. Adding new hotels has been an easy process and getting the data into our accounting software has been a breeze.

The best part of PlateIQ is having centralized access to all our company's invoices. A close second is having online approval capabilities.

I feel like some of the reporting is a little lacking. I would love to be able to easily pull a GL account and see what all was spent in there but I don't believe that can be done very easily.

I believe this was mentioned in the previous areas.

The only one I did not mention was the billing structure. Since there is no break in price for any level of monthly invoices, the overage penalty is tacked on, when they could clearly charge the same fee for each processed invoice and be done with it but with seasonality, the company takes advantage of the fact invoices will not be used in some months and overages occur in others. It is very difficult to find the balance... I would have preferred this closer to a copier lease agreement, where the overages are billed quarterly or yearly.

I was initially against this product. I didnt see the value in it. We only use a fraction of what it could actualy do. This has turned a=out to be a great decision. THe time saved entering invoices as well as the ability to stop duplcates is fantastic.

THe importing of the invoice and the ability to see an actually copy of it as you do the approving.

We had some monor issues with exporting some records. After a call to customer service, the problem was resolved.

Like most things in life there is a 50/50 chance of it working like it should

When the invoice matches the data entered

When there is no data and invoice is legible

Ease of use. Beautiful interface. Great customer service

Want more data! Please create more tools like hot list and spend analyze

our experience on a daily level with plateIQ is fantastic

we like that it is easy to find items on invoices so we do not have to go find the invoice in a file cabinet and our Chefs have access now even though they are not in the accounting dept We love the reports, being able to see price increases in an easy accessible location in the program

it did take a long time to get all our items in correct categories

It's ok. It has made life a lot easier. I wish I could start over knowing the things I know now.

I like that it reads invoices and puts them in accounts. I like the integrations with Intaact and Cogs-well. It has made accounting easier in general. It is when there are mistakes that it becomes an issue because of the reliance on history.

Manually changing every invoice because the software doesn't recognize the "picture logo" and assigns the wrong vendor or that an item is recognized wrongly and has to be manually changed on every invoice in spite of changing past invoices and item list.

It's very business friendly, despite what industry you're in. We're a concert venue with a bar, so this software really helped us stay organized and on top of things that were due. Big life saver.

I liked how user-friendly it was to search for the things I was looking for. Invoices/receipts things like that that I have multiples of. It shows you line by line each invoice or receipt, etc... Searching has great search features to narrow it down for you too.

What I liked least about this software was that sometimes there were just too many options to go through.

I summarized some of this on the prior page. Overall customer support is weak due to a lack of training and timely responses. I assume due to lack of staffing. I am concerned with a focus on revenue management that will take away work on fixing current issues.

Convenience and cloud based; integrated to accounting and inventory system, ACH, checks in system and vendor rebates

Weak support, no PO system, vendor management is weak, approval policies are cumbersome,

Ok. Mostly used for review of invoices.

Auto upload of invoices. Centralized location for all invoices. Links to ERP.

Reporting is bad. It is slow and can't handle too much information. Search features are okay. Not as user friendly. Requires a lot of oversight.

Positive on the product Frustrating on the support and communication

It's awesome and has great OCR accuracy. The technology is goo, but there continues to be room for improvement.

No partner program or support. The Company is very decentralized and communication is aweful.

I like the software, but the reading of invoices could be better.

Makes it easy to approve multiple invoices in a short period of time.

Invoice reading software makes multiple errors forcing you to reassign products on a daily basis. Even products that have been purchased on multiple occaisions.

I can see every invoice in a library on my phone at an instant… so many problems resolved by this

Individual items change prices view is ideal for catching any possible hit to our revenue

The bill pay feature is still too slow and it takes a lot of time to get to the vendor.