SAN FRANCISCO, June 06, 2018 (GLOBE NEWSWIRE) -- Plate IQ , a technology company that helps restaurants improve and automate their Accounts Payable (AP) processes, today announced a partnership with Vitaligent LLC, the largest franchisee of Jamba Inc., which owns and franchises Jamba Juice® stores. Plate IQ's software enables more than 100 Jamba Juice stores to improve cash management and workflow by delivering greater transparency and automation to the accounts payable processes.
Specifically, the integration allows Vitaligent to:
- Improve overall work flow and cash management : Plate IQ consolidates and better manages the invoice approval process to improve cash management, while optimizing time and cost savings.
- Insights into pricing : Prior to Plate IQ, Vitaligent didn’t capture line item invoice detail. Now with Plate IQ, the franchisee conducts a detailed spend analysis to view price history and eliminate erroneous charges.
- Electronic Payments: Before Plate IQ, Vitaligent did not leverage the power of electronic payments via ACH (Automated Clearing House) for non-prime costs and suppliers. Electronic payments have helped them reduce costs, enhance payment security, reduce human error and speed processing time.
“As a large franchisee we process thousands of invoices, and prior to working with Plate IQ we had limited cash management tools and too much manual effort driving up our costs,” said Dean VandeKamp, Chief Executive Officer, Vitaligent. “By teaming up with Plate IQ, their seamless solution delivered greater cost-savings and visibility into our data, while unlocking actionable insights to help drive greater operational efficiencies and better pricing.”
"We are excited to be partnering with Vitaligent," said Bhavuk Kaul, co-founder and CEO of Plate IQ. "Plate IQ helps Vitaligent better manage invoices, vendor payments and reports so they can win back time to focus on their core business, while improving the bottom line.”
About Vitaligent, LLC Vitaligent is a holding company focused on promoting health and happiness in each relationship - with guests, team, families and community. Vitaligent’s focus is on wellness, fresh juices and smoothies, and healthy meal options. Vitaligent owns and operates more than 100 Jamba Juice stores across the United States.
About Plate IQ Bhavuk Kaul and Ram Jayaraman founded Plate IQ in 2014 after learning how painful and expensive it was for restaurants to manually process paper invoices. Today, Plate IQ offers a full suite of accounts payable automation solutions, and has processed more than $2.5 billion worth of invoices. Plate IQ works with more than 4,500 customers including Thomas Keller, Eleven Madison, Milk Bar, Tender Greens, Jamba Juice and more. Plate IQ investors include Eilses Capital, Initialized, and Y Combinator. For more information, visit www.plateiq.com
Media Contact: Mary Nelson, ICR 646.277.1219 Mary.Nelson@icrinc.com
