New features give restaurant brands exclusive
data and insights, control and support, and access to valuable
integrations and APIs
Toast (NYSE: TOST), the digital platform built for restaurants,
today announced the launch of its new Restaurant Management Suite.
Powered by insights from more than 100,000 restaurant locations
including hundreds of multi-unit brands like Caribou Coffee, Papa
Gino’s & D’Angelo, Bar Louie, Nothing Bundt Cakes, and more,
Toast’s Restaurant Management Suite provides enterprise brands with
the data and insights, control and support, and integrations they
need to better manage their businesses.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240411696603/en/
Courtesy of Toast
“To succeed in today’s competitive environment, enterprise
operators need intuitive tools and readily available insights at
the location and corporate levels to help them manage
administrative complexity and make the right decisions as they
grow,” said Steve Fredette, President and Co-Founder of Toast. “The
size and diversity of our customer base give Toast unique insights
into what operational excellence and top-notch performance look
like across the industry. With innovations like Benchmarking and
improved tools like Multi-Location Management and Menu Manager and
Publishing Center, Restaurant Management Suite is designed to help
restaurants of any size, especially multi-unit brands, perform at
their best and grow.”
Advanced Restaurant Analytics Provides New Data and Insights
Leveraging an AI-based Classification Tool to Enable Teams to Make
Better Decisions Across Locations
According to a recent Toast survey, top challenges for operators
include the administrative aspects of the restaurant business,
including managing multiple service channels and locations, and
interpreting guest data1. With Advanced Restaurant
Analytics, restaurant brands can provide their teams with
detailed data and insights to know what’s happening across their
locations — and why — to make better business decisions. Advanced
Restaurant Analytics provides greater clarity into a restaurant
brand’s sales and menu performance, including location-level
reporting and competitive benchmarking tools.
Advanced Restaurant Analytics includes:
- Coming soon Benchmarking tool that will enable leaders
to compare restaurant and menu category performance against
aggregated data from Toast restaurants categorized and analyzed
leveraging an AI-based classification tool. The Benchmarking
features are expected to include the ability for restaurants to
compare sales and order volume by restaurant type and menu
performance based on food and beverage categories. With access to
aggregated data from the network of Toast restaurants, operators
can further analyze comparisons by location radius, day, week,
month, and preceding time period. With the Benchmarking tool, a
cafe could compare their sales and order volume of lattes over a
particular time frame to the average sales for cafes using Toast in
their region. These tools are designed to help operators more
easily identify possible opportunities to drive revenue through
things like new menu items, limited-time offers, or updated
pricing. Benchmarking is available now to select users.
- Toast’s improved Multi-Location Reporting empowers
restaurant leaders to see their entire business at a glance,
segment locations, and compare them using an expanded list of key
performance metrics.
Enhanced Publishing Center for Menus and Improved
Multi-Location Management Allow Brands To Take Control of Their
Operations and Designed to Reduce Workload for Corporate
Teams
Restaurant Management Suite makes it easy for leaders to take
control of their operations at scale, make changes quickly, and is
designed to reduce the administrative workload for corporate teams.
The Menu Manager and Publishing Center feature enables teams
to effectively manage their menus across locations, including
scheduling menu items and price changes for the future, allowing
managers to react quickly to changing guest needs and operational
costs. Multi-Location Management allows restaurants to
efficiently manage and standardize configurations and settings
across large location footprints. Enhanced settings management will
make it easier to copy virtually any aspect of restaurant
configuration across multiple locations.
“With hundreds of locations across multiple geographies, brands
like ours need the ability to reduce complexity and manage our
operations at scale,” said Adam Kinsinger, Director of Technology
at WaBa Grill, an over 190 locations fast-casual brand founded in
Southern California. “Toast’s consistent investment in
enterprise-grade Multi-Location Management and Menu Management
tools has made it easier for our teams to drive operational
consistency, make settings and menu changes quickly, and reduce
administrative workload. Whenever our IT or operations teams can
more easily copy a setting or make menu changes across our
footprint, it frees them up to focus on other tasks and building
for the future.”
Additionally, Toast’s Restaurant Management Suite empowers
brands to better manage their business with:
- Partner Integrations + Toast API access: Operators can
seamlessly share data between Toast and widely used third-party
tools via easy-to-use integrations with 200+ partners. Toast
Application Programming Interface (API) access enables brands to
share data between Toast and custom apps. Toast APIs also empower
brands to build robust custom apps.
- E2EE + P2PE payment security solutions: The Toast
platform and all devices provide End-to-End Encryption (E2EE) to
enable a high degree of payment security for enterprise brands and
their guests. Point-to-Point Encryption (P2PE) security solutions
are also available to meet their security requirements if
needed.
- Enterprise Toast Care: Fully included ongoing support
specifically designed for the more complex configurations, tech
stacks, and scale of enterprise brands. Enterprise care agents have
deep knowledge of the specific configurations, settings, and
integrations used by the brands they cover to help resolve issues
faster. Enterprise care agents are equipped to support issues that
arise with more complex tech stacks.
Restaurant Management Suite functionality is available to
restaurants of all sizes and types in tiered offerings to meet the
unique needs of different customers, from small and medium-sized
restaurants to enterprise brands.
Customer testimonials are self-reported and are not a guarantee
that any other customer will see similar results. Toast does not
warrant the accuracy or completeness of any information contained
in customer testimonials. Individual results will vary.
This information is intended for informational purposes only and
is not a binding commitment. The development, release and timing of
any products, features or functionality remain at the sole
discretion of Toast, and are subject to change.
About Toast
Toast [NYSE: TOST] is a cloud-based, all-in-one digital
technology platform purpose-built for the entire restaurant
community. Toast provides a comprehensive platform of software as a
service (SaaS) products and financial technology solutions that
give restaurants everything they need to run their business across
point of sale, payments, operations, digital ordering and delivery,
marketing and loyalty, and team management. We serve as the
restaurant operating system, connecting front of house and back of
house operations across service models including dine-in, takeout,
delivery, catering, and retail. Toast helps restaurants streamline
operations, increase revenue, and deliver amazing guest
experiences. For more information, visit www.toasttab.com.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements,” within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the context of the statement and
generally arise when Toast or its management is discussing its
beliefs, estimates or expectations. Such statements generally
include the words “believes,” “plans,” “intends,” “targets,” “may,”
“could,” “should,” “will,” “expects,” “estimates,” “suggests,”
“anticipates,” “outlook,” “continues,” or similar expressions.
These statements are not historical facts or guarantees of future
performance, but represent the beliefs of Toast and its management
at the time the statements were made regarding future events which
are subject to certain risks, uncertainties and other factors, many
of which are outside Toast’s control. Actual results and outcomes
may differ materially from what is expressed or forecast in such
forward-looking statements. Forward-looking statements include,
without limitation, statements regarding Toast’s business plans and
strategy with respect to mid-market and enterprise customers, the
launch of Restaurant Management Suite, including intended benefits
and the functionalities introduced or to be introduced in
connection with this launch, and the benefits of such launch on
Toast’s business and operations.
The forward-looking statements contained in this release are
also subject to other risks and uncertainties, including those more
fully described in Toast’s filings with the Securities and Exchange
Commission (“SEC”), including in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations'' in Toast’s Annual Report on
Form 10-K for the year ended December 31, 2023, and Toast’s
subsequent SEC filings. Toast can give no assurance that the plans,
intentions, expectations or strategies as reflected in or suggested
by those forward-looking statements will be attained or achieved.
The forward-looking statements in this release are based on
information available to Toast as of the date hereof, and Toast
disclaims any obligation to update any forward-looking statements,
except as required by law. These forward-looking statements should
not be relied upon as representing Toast’s views as of any date
subsequent to the date of this press release.
TOST-CORP
1To help better understand the restaurant industry, Toast
conducted a blind survey of 847 vSMB/SMB restaurant decision-makers
from May 26, 2023 to June 20, 2023. Respondents were not made aware
that Toast was fielding the study. Panel providers granted
incentives to restaurant respondents for participation. Using a
standard margin of error calculation, at a confidence interval of
95%, the margin of error on average is +/- 3%.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240411696603/en/
Media: media@toasttab.com Investors: IR@toasttab.com
Toast (NYSE:TOST)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Toast (NYSE:TOST)
Historical Stock Chart
Von Mai 2023 bis Mai 2024