Toast Expands Commitment to Enterprise Brands with Launch of Restaurant Management Suite

Rhea-AI Summary

Toast (NYSE: TOST) launches Restaurant Management Suite to provide enterprise brands with exclusive data, insights, and control. The suite includes Advanced Restaurant Analytics, Multi-Location Management, Menu Manager, and Benchmarking tools. Partner integrations, API access, E2EE, and P2PE payment security solutions are also available. Customer testimonials highlight improved operational efficiency and reduced administrative workload.

New features give restaurant brands exclusive data and insights, control and support, and access to valuable integrations and APIs

BOSTON--(BUSINESS WIRE)-- 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.

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

Source: Toast, Inc.

FAQ

What is the ticker symbol for Toast?

The ticker symbol for Toast is TOST.

What is included in Toast's Restaurant Management Suite?

Toast's Restaurant Management Suite includes Advanced Restaurant Analytics, Multi-Location Management, Menu Manager, and Benchmarking tools.

How many restaurant locations provide insights for Toast's Restaurant Management Suite?

The suite is powered by insights from more than 100,000 restaurant locations, including multi-unit brands like Caribou Coffee, Papa Gino’s & D’Angelo, Bar Louie, and Nothing Bundt Cakes.

What are the key features of Advanced Restaurant Analytics in Toast's suite?

Advanced Restaurant Analytics provides detailed data and insights for sales, menu performance, location-level reporting, and competitive benchmarking tools.

How does Toast's Restaurant Management Suite help restaurant brands?

The suite helps brands manage their business with tools like Multi-Location Management, Menu Manager, and Benchmarking, empowering them to make data-driven decisions and drive revenue.