Plate IQ

Plate IQ’s solution is to effect digital transformation across B2B payments and accounts payable in the hospitality sector. The company’s VendorPay allows customers to make payments directly to over 200,000 vendors straight from their AP platform, thereby streamlining and resolving the late payments issue that’s been growing steadily in the sector over recent years.

Margins in the sector are famously tight, so even the most modest of operational improvements can make substantial gains for hospitality businesses. Indeed, over 20,000 restaurants, hotels and grocery chains across the US are using Plate IQ’s platform, including leading brands such as Best Western, Holiday Inn and Foodtown.

Following a high degree of fundraising, the company has developed its product to suit verticals outside the hospitality and food sectors, and is now offering its services to accounting firms and other businesses. Building on past successes this area may grow to be the central plank of Plate IQ's offering going forward.