Digital payments and commerce for the $230B wholesale food and hospitality industry (US & Canada)
Sourcery, a digital payments and commerce platform focusing on the the food and hospitality industry, today announces the launch of the company’s accounts payable product for Quickbooks Online. Available in the official Intuit app marketplace, the tool enables instant onboarding and seamless integration with QuickBooks Online.
Sourcery, a digital payments and commerce platform focusing on the the food and hospitality industry, today announces the official launch of its accounts receivable solution.
Sourcery Technologies Inc. has raised $5 million in venture funding for software that helps restaurateurs and corporate kitchens order from vendors, keep track of their inventory and costs, and figure out the appropriate prices for different ingredients.
Appvance continues to expand its executive team with the announcement today that it has hired Todd Quinn as the vice president of worldwide sales and field operations to further bolster its mission to reinvent enterprise software and application testing with the world's first "DevOps-ready" software Quality Assurance platform.
Sourcery announced today that they will be showcasing their unique accounts payable technology system during the National Restaurant Association’s annual conference in Chicago, IL. Sourcery will be exhibiting at booth 8424K in Startup Alley which is being held at McCormick Place from May 21-24, 2016.
Sourcery, a digital payments and commerce platform designed to address the needs of the food and hospitality industry, announced today that its latest accounts payable platform, Sourcery Payments, delivers a seamless interface to help restaurants, commercial kitchens, food retailers, and restaurant accounting firms digitally manage invoicing and payments with advanced dashboard insights for realtime spend monitoring and improved cashflow management.
“We are operating in a very big market, and it’s a market that very few people are aware of,” Sourcery chief executive Na’ama Moran told VentureBeat in an interview.
Looking forward, Moran says that Los Angeles, Portland, and New York City have customers signed up but not served. Sourcery plans to move into those markets starting in January of next year. Until then, the startup is working to onboard the more that 55 companies already on its waitlist.
"Restaurant owners and managers often work with tens of different suppliers — produce, meat, seafood, dry goods — and each supplier has different payment terms," Moran said. "Some bill every week, some every month.If you deal with this stuff every day on paper, you need several full-time people,” Moran said. “Instead, we can essentially be their accounts payable department for the kitchen.”
Electronic invoicing may not be anything new, especially when you consider the big players in the market, such as Tradeshift and Taulia. But Sourcery claims to differ from the rest because of its highly customized technology specifically designed for food vendors. And it already has a much bigger community of food vendors, which matters the most when you’re building a niche marketplace platform focused on a single industry.
"Ordering sacks of flour and sides of beef is suddenly as simple as adding items into a shopping cart on Amazon"
"Successful companies like Google, LinkedIn, Zynga, Palantir, Dropbox, and Airbnb all started food programs early in their lifetimes. Hiring an in-house chef hasn’t always been high on a startups’ list of priorities, but it was only a matter of time before smaller companies began to catch on. Bandpage, a music startup in San Francisco, hired a chef as the fifteenth full-time employee to prepare free meals for the company and guests."
Na'ama has a BA in Economics and Political Science from Cornell University. Prior to Sourcery, Na'ama co-founded Zappedy (acquired by Groupon), and Hooja. Originally from Israel, Na'ama has also lived in Italy, where she helped create the European equivalent of the TED conference.
Peretz received a BA in Physics, Math and English from Brandeis, a MS in Literature from Cambridge University and a PhD in Biophysics from University of California, San Francisco. Peretz worked on big data projects at Fermi Labs, and deployed wireless networks in Afghanistan as part of a DARPA funded project.
Adam has an MBA from Santa Clara University. Prior to Sourcery, Adam led Marketing and Sales at Aircraft Covers, Inc. where he grew the sales team from 14 to 32 and increased sales from $1.8M to over $14M a year. While at college at UC Santa Cruz Adam worked as a chef at various Bay Area restaurants.