DAVO Joins Brink POS® Integration Ecosystem

Rhea-AI Summary

ParTech, Inc. has integrated DAVO Sales Tax® into its Brink POS® platform, streamlining sales tax management for restaurant operators. This service automatically calculates, sets aside, and remits sales tax, alleviating the burden on operators. Over the past two years, DAVO has enabled automatic filing of more than $120 million in sales tax. Peter Murray, DAVO's CEO, highlighted PAR's strong reputation in the restaurant sector as a reason for this partnership. This collaboration aims to enhance operational efficiency, allowing restaurant owners to focus more on business growth rather than tax-related paperwork.

Positive

• Integration of DAVO Sales Tax with Brink POS enhances operational efficiency.
• Automatic filing of over $120 million in sales tax over the past two years.

Negative

• None.

ParTech, Inc. (“PAR”), a leading global provider of point of sale (POS) software and integrated technical solutions to the restaurant and retail industries, has added DAVO Sales Tax®, a sales tax management service, to its integration partner ecosystem. ParTech, Inc. is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).

DAVO simplifies the sales tax management process for restaurant operators without forcing them to take any additional actions on their end. Using PAR’s Brink POS® platform, DAVO uses data collected from each sale to set aside the exact amount of sales tax for each purchase, compiling it each day. The sales tax is then moved to a safe and secure account until the sales tax remittance is due.

When it’s time to pay taxes, DAVO automatically files and remits your sales tax to the state on your behalf, using the funds that have been set aside each day. Operators no longer need to be concerned with trying to calculate how much their restaurants owe, when to file, or having the money on hand when it’s time to pay.

For DAVO CEO, Peter Murray, integrating with PAR Brink POS was a logical choice.

"PAR has an amazing reputation in the restaurant industry and a wonderful team," Murray said. "We're excited to partner with PAR to launch DAVO Sales Tax on their Brink POS platform. DAVO will be a great asset to help restaurants using PAR Brink POS fully automate their sales tax management.”

Stephen Lee, Director of Strategic Partnerships at ParTech, Inc. commented, “By taking the hassle out of money management and tracking down sales tax information, restaurant operators can spend more time growing their business and less time filing paperwork. The fact that all of the management is happening on the back-end without the operator actually needing to do any additional work on their end makes the entire sales tax process less of a burden.”

Over the past two years, DAVO customers have realized automatic filing of over $120 million in sales tax.

About DAVO Technologies
DAVO puts sales tax on autopilot by using sales data from retailer POS systems to set aside the exact amount of sales tax collected daily and then filing it and paying it when it’s due. Founded in 2015, DAVO’s automated sales tax services are available through direct integrations with several popular POS platforms and the service only takes a few minutes to set up. For more information, please visit: www.davosalestax.com On social media: LinkedIn, Facebook, Instagram, YouTube, and Twitter

About PAR Technology Corporation
PAR Technology Corporation through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech’s Brink POS integration ecosystem enables quick service, fast casual, table service, and cloud restaurants to improve their operational efficiency by combining its cloud-based POS software with the world’s leading restaurant technology platforms. PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol PAR. For more information, visit www.partech.com or connect with PAR on Facebook or Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005044/en/

FAQ

What recent partnership did PAR Technology announce?

PAR Technology announced the integration of DAVO Sales Tax into its Brink POS platform.

How does DAVO Sales Tax benefit restaurant operators?

DAVO Sales Tax automates sales tax management, calculating, setting aside, and filing sales tax without additional effort from operators.

What is the financial impact of the DAVO integration for PAR?

Over the last two years, DAVO has facilitated the automatic filing of over $120 million in sales tax.

What performance metrics did PAR and DAVO highlight in their announcement?

The partnership allows restaurant operators to focus on business growth while handling over $120 million in sales tax filings automatically.