Sourcery

Sourcery is developing a payments and commerce platform that focuses on the wholesale foodservice industry, a $220B market that still runs on 1980s technology: buyers search for products in paper catalogs, submit orders by fax or phone, and deal with paper invoices and checks. Sourcery's platform brings all of these transactions online. Sourcery enables companies of all sizes to handle their AP needs in one place. We turn a stack of invoices into a boatload of insights automagically. We work with leading restaurateurs, operators and accountants to build the best accounts payable solution for the industry. Owners and executives of multi-unit restaurant organizations rely on Sourcery to provide a scalable solution to help them create efficiencies, and, ultimately, grow their business, while impacting their bottom line. Sourcery integrates with most accounting software and restaurant management applications. We use a combination of computation and human verification to have the best in class extraction of structured data from invoices down the the line item. Our data analytics automatically detect anomalies and notify purchasers about rising prices. Customers include Palantir, Dropbox, Airbnb, Stripe as well as restaurants, caterers, and other food businesses. Call toll free on +1-(866)830-0691



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Sourcery in the press

Feb. 16, 2017

Ctuit VP of Operations Receives Women in Foodservice Lifetime Achievement Award

These women are recognized for their reimagining of restaurant processes and operations, as well as their demonstration of excellence in leadership, inventiveness and skill. The Lifetime Achievement Award was presented to two particularly exceptional women in the field – Pat Darling of Ctuit Software, and Karen Bird of Buffalo Wild Wings. This award is presented in recognition of a lifetime (no less than 15 years) of service and accomplishments in the foodservice technology industry. These accomplishments cover the individual’s overall impact on the technology industry, as well as their specific talents in encouraging colleagues and industry peers, their enthusiasm, their mentorship, and their commitment. About Ctuit SoftwareCtuit Software is the creator of RADAR, a comprehensive restaurant management software that helps restaurants reduce food and labor costs while streamlining operations.

Feb. 9, 2017

Hospitality Technology Announces 2017 Top Women in Foodservice Technology Award Winners

Hospitality Technology (HT) magazine is pleased to announce the winners of its 2017 Top Women in Foodservice Technology Awards. "We were thrilled to be faced with the task of culling through so many deserving nominations of highly qualified women in the foodservice technology industry," said Dorothy Creamer, editor, HT magazine. It is our great privilege to recognize them for their achievements and impact on the foodservice technology industry." Lifetime Achievement:This award is presented in recognition of a lifetime (no less than 15 years) of service and accomplishments in the foodservice technology industry. Lifetime AchievementKaren Bird of Buffalo Wild WingsPat Darling of Ctuit SoftwareWinners will be profiled in the March 2017 issue of Hospitality Technology.

Oct. 18, 2016

Commerce and Payments Platform Sourcery Launches AP Automation for Quickbooks

Available in the official Intuit app marketplace, the tool enables instant onboarding and seamless integration with QuickBooks Online. Opening Sourcery’s powerful cloud-based invoice management capabilities to restaurants and other businesses of all sizes, the software is accessible directly from Intuit’s app marketplace. The hassle-free onboarding process lets anyone with a Quickbooks Online account begin importing invoices and other pertinent info to Sourcery within minutes, dramatically reducing manual processing. The software also enables users to pay invoices via ACH, or by sending vendors checks directly from Sourcery’s online bill pay application. The integration with Quickbooks Online follows the launch of an accounts receivable product, both part of the company’s longer-term platform enhancement strategy, funded by a recently-closed $5M venture round.

Oct. 11, 2016

ACH Offers Middle Ground For Buyers, Suppliers - Sourcery Talks Venturing To Accounts Receivable

Now, as a two-sided B2B payments company, Sourcery must meet the demands of both its corporate buyer and supplier customer base. She divulged what vendors need from a payments and invoicing solution and the challenge of meeting those needs without neglecting the corporate buyer’s, too. But they were a passive part of the company — ultimately, the end customer of Sourcery corporate buyer users. Among the many challenges of morphing into a two-sided company was acknowledging that, sometimes, buyers and suppliers have conflicting needs in B2B payments. But ACH is already a top rail for B2B payments: NACHA released figures earlier this year that found $41.6 trillion worth of B2B payments transferred over the ACH Network, a 4 percent increase from 2014.

Oct. 7, 2016

Sourcery Adds Accounts Receivable to Its Digital Invoice Management Solution

Sourcery, a digital payments and commerce platform focusing on the food and hospitality industry, announced the official launch of its accounts receivable solution. Sourcery’s AR solution, developed in partnership with Restaurant Cheetah, directly addresses challenges throughout suppliers’ accounts receivable processes. The SaaS platform organizes and automates across the workflow, driving significant reductions in labor expenses and missed payments. Additionally, Sourcery makes it easier to transfer vendors’ customers to ACH and reduce processing fees for both credit cards and ACH payments. The addition of accounts receivable is part of the company’s longer-term platform enhancement strategy, funded by a recently-closed $5M venture round.

Sept. 13, 2016

StrictlyVC: September 13, 2016

We will say that here at TechCrunch Disrupt, there has been be a string of amazing speakers throughout the day. If you happen to open today’s SVC *right now* (5:40ish PST), you can catch NBA player Steph Curry on stage, too. The company has raised $15.4 million altogether, including venture debt financing. Hipmunk had raised roughly $55 million from investors, including Oak Investment Partners, IVP, and Ignition Partners. Peng spent nearly a dozen years with the Chinese online travel company Qunar, including as its COO.

June 13, 2016

The Stories of These 12 Women Are Why Female Founders Are Terrified of Being Pregnant

While there are laws prohibiting discrimination against pregnant women when hiring, they don’t apply to investors, who have been known to pass up investments because the CEO is pregnant. The industry advice is, “Do not under any circumstances tell people you’re pregnant if you’re the CEO and fundraising. I went on to raise the $1 million round, but it was really, really hard. There are laws against discriminating against pregnant women when hiring, but that doesn’t apply to investors. I feel like women feel they have to provide that explanation or drawn out reason why they can handle it, but it shouldn’t be necessary.