B2B Payments

Restaurant365 Launches Fully Integrated AP Solution

Restaurant365 is launching a fully integrated accounts payable (AP) automation solution to streamline restaurant invoice capture, approvals and payment processing.

While most eateries need to use either a manual process — for entering, approving and paying invoices  or utilize multiple third-party systems in an attempt to automate these steps, Restaurant365 provides complete AP automation for restaurants in a single, secure platform, with both automation and accounting completed in three easy steps.

“We are proud to unveil the best AP automation solution built specifically for restaurants,” said John Moody, co-founder of Restaurant365, in a press release. “We have solved the problem of separate systems, riddled with integration hassles and manual or limited third-party payments options. Now, through Restaurant365, true end-to-end AP automation for restaurants is a reality.”

Digital conversion is now available for all paper invoices, eliminating the need for manual data entry or the use of a separate third-party service. Invoices can now be routed through a new workflow module, which can be customized with multiple levels of escalating approvals based on the individual needs of each customer.

In addition, eateries can create and send payments for automated delivery through the secure Restaurant365 platform. As a result, there is no longer the need for the manual printing of checks or manual uploading of ACH files. This new solution also allows for multiple automated payment options, including check, ACH, virtual card and other digital payment options.

Restaurants will be able to maximize rebates by moving AP spend onto single-use virtual cards.

Founded by an experienced team of software veterans, Restaurant365 has offices in Irvine, California and Austin, Texas. Earlier this year, the company closed $20 million in Series A financing with a minority investment from Bessemer Venture Partners. The funding will be used to expand the team and accelerate development.


New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.