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Plate IQ Appoints Andy Roberts as Chairman of Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Plate IQ appoints Andy Roberts as chairman of the board to accelerate its growth in the hospitality software and payments sector. With over 40 years of B2B payments experience, Roberts previously led VPay and Fleet One. His leadership is expected to enhance Plate IQ's strategy in digital payments, targeting verticals like restaurants and hotels. The company processes over $1 billion in vendor payments annually and serves more than 20,000 customers. This appointment is seen as pivotal for capitalizing on the shift to automated workflows amid ongoing labor shortages.
Positive
Roberts brings extensive experience in B2B payments, enhancing leadership.
Plate IQ is well-positioned to expand its footprint in digital payments.
The appointment aligns with Plate IQ's vertically-focused growth strategy.
Negative
Concerns about continuity in leadership experience among board members.
Industry veteran brings four decades of experience to rapidly growing hospitality software and payments company
SAN FRANCISCO--(BUSINESS WIRE)--
Plate IQ, the leading hospitality accounts payable (AP) automation and B2B payments platform, today announced the appointment of Andy Roberts as chairman of the board of directors, effective immediately. Roberts will be responsible for advising and guiding Plate IQ’s expansion across verticals such as restaurants, hotels, distribution, grocery, and country clubs.
Roberts brings over 40 years of leadership experience in growing and scaling B2B payments companies. Most recently, he was CEO of digital claims payment processing giant VPay, which was acquired in December 2020, and was honored as 2020 CEO of the Year for mid-sized companies by The Dallas Morning News. Prior to VPay, Roberts was president and CEO of Fleet One, a provider of fuel cards and fleet management information services, which was later acquired by Wright Express. FTV Capital, a leading growth equity investment firm, was an investor in both VPay and Fleet One and is happy to welcome Roberts to Plate IQ, which is FTV Capital’s latest investment in AP automation and B2B payments.
“Andy brings a wealth of knowledge and experience to the board in important areas, particularly in the area of B2B digital payments,” said Barrett Boston, CEO of Plate IQ. “His leadership track record and strong network relationships will also be very valuable to us. Andy’s experience will be instrumental as we execute on our vertically-focused strategy to expand Plate IQ’s footprint in the B2B payments space.”
“Companies win when they position their customers to be successful. You do that by building cutting-edge technology that helps companies automate manual workflows and help their employees become more efficient,” said Roberts. “I’m excited to be joining Plate IQ’s board because I see the powerful impact of deploying purpose-built artificial intelligence for invoice automation and B2B payments. The current labor shortage isn’t going away anytime soon and companies are quickly realizing that manual workflows are no longer a cost-effective way to manage their accounts payables. Plate IQ is incredibly well-positioned to help companies leverage their employees' time better.”
"We've worked alongside Andy and witnessed his exceptional leadership at two of our prior portfolio companies, and we're thrilled to work with him again as he joins Plate IQ's board as chairman," said Robert Anderson, board member at Plate IQ and partner at FTV Capital. "With businesses shifting to digital payments, Plate IQ is poised to benefit from Andy’s rich expertise and experience in scaling vertically-holistic payments companies that add differentiated value for their customers."
Prior to VPay and Fleet One, Roberts was the CEO and president of Alliance Data Systems, Harmonic Systems Inc., and Diamond Shamrock (now Valero). Roberts started his career as an information technologist with General Motors and wrote a significant amount of software in multiple languages and on multiple technology platforms. He received his education from the University of Texas, Austin and the University of Michigan, Flint.
Plate IQ's board of directors is comprised of Roberts, Boston and Anderson, as well as Plate IQ co-founders, Bhavuk Kaul and Ram Jayaraman, and FTV Capital Vice President, Gary Weber.
About Plate IQ
Plate IQ helps businesses automate accounts payables on their terms. We simplify everything from invoice management to payments for both recurring and one-time expenses with a cloud-first approach that enables remote work.
Plate IQ, founded in 2014, serves over 20,000 customers nationwide across restaurants, country clubs, hotels, and accounting services. The company processes more than 50,000 invoices daily and over $1 billion in direct vendor payments annually. For more information, please visit www.plateiq.com
About FTV Capital FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 130 portfolio companies, including Derivative Path, Docupace, EBANX, LoanPro, Plate IQ, Sysnet, Tango Card and Vagaro, and successfully exited/partially exited companies including Enfusion (NYSE: ENFN), Globant (NYSE: GLOB), InvestCloud (recapitalized), MedSynergies (acquired by Optum), Strata Fund Solutions (acquired by Alter Domus), VPay (acquired by Optum) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York and Connecticut. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.
