Plate IQ gives restaurants insights into their food costs and operations. All a restaurant has to do is to take photos of their invoices using Plate IQ's phone app. Plate IQ then digitizes the invoices, analyzes them and gives restaurants a detailed review on their spending, down to the individual line item level. For the first time, restaurants can automatically see their food cost within hours of getting their invoice; before Plate IQ it would take weeks to do this. Plate IQ offers a Bill Pay feature which allows restaurants to pay their bills using the Plate IQ dashboard. Plate IQ also recently launched its inventory app, allowing restaurant workers to record their inventory/stock using their phone or tablet.