Toast Launches Invoicing to Help Restaurants Grow Their Catering and Events Business

Rhea-AI Summary

Toast Launches Toast Invoicing, a new product designed to help restaurants manage catering and wholesale orders along with their traditional business. Offered at no additional cost to current customers, the tool streamlines invoice management and payments, integrating seamlessly with existing operations. According to Toast’s survey, 72% of restaurants provide catering services, indicating a significant market need. The new invoicing feature allows for easy itemization, online payment options, and improved order tracking, enhancing operational efficiency.

Positive

• Toast Invoicing available at no additional cost for existing customers.
• Integrates invoicing with existing sales systems, streamlining operations.
• Enables easy management of catering and wholesale orders.
• 72% of restaurants provide catering, highlighting market demand.

Negative

• None.

With integrated digital invoicing, Toast streamlines the process of creating customer invoices, collecting payments, prepping and fulfilling orders

BOSTON--(BUSINESS WIRE)-- Toast (NYSE: TOST), the all-in-one digital platform built for restaurants, today announced the launch of Toast Invoicing, a new product to help restaurants seamlessly manage catering and wholesale orders alongside their in-person, takeout and delivery business. Available at no additional monthly cost¹ to existing customers, Toast Invoicing allows restaurants to streamline operations and simplify payments for all types of orders and events, merging revenue sources that had otherwise required multiple systems to manage.

“Whether it’s a bakery fulfilling an order for a wedding or a downtown brewery selling craft beer to other local businesses, restaurants have evolved to more than just providing guests an incredible on-site experience,” said Aman Narang, president and co-founder of Toast. “Our customers are managing in-person dining, online orders, catering and wholesale orders all under one roof. Toast Invoicing is another key building block for restaurants to expand their service models and grow their entire business all on one platform with Toast.”

“I used to designate about one to two days to invoicing,” said Brynn Keefe, cake shop manager of Luna Bakery & Cafe. “Now within five or ten minutes, I can send a contract through an invoice and the customer pays it within a day or two. I never would’ve thought the food industry would need technology like we do. Now that it is here, I can’t imagine life without Toast Invoicing.”

According to Toast’s first Voice of the Restaurant Industry survey, 72 percent of restaurants offer catering in addition to their on-premise business. Catering is one of the top three areas of focus for restaurant owners and operators heading into 2023.² However, many restaurants need a different system to bill customers for catering, wholesale and house account balances. Toast Invoicing eliminates the need for multiple systems by integrating the invoices with a restaurant’s existing sales and operations. Toast Invoicing allows restaurants to:

• Streamline catering and wholesale with integrated order and payment tracking - Toast Invoicing enables restaurants to easily capture orders online, send estimates, print full page prep sheets and track orders through a calendar view that is fully integrated with Toast Point of Sale and Toast Kitchen Display System (KDS). It provides everyone from catering managers to back of house staff access to the tools and information they need to be successful.
• Easily manage invoices for all types of orders - Toast Invoicing integrates directly with a restaurant’s menu in Toast, so they can simply itemize invoices from their existing menu. It also allows restaurants to accept tips with an invoice and digitally distribute them to staff using Toast Payroll & Team Management.
• Simplify payments - Toast customers have the ability to send an invoice from any device, not just their point of sale system. They can set payment due dates and reminders as well as collect and redeem deposits. Through Toast Invoicing, a restaurant’s customer has the flexibility to pay online at any time.

Learn more about Toast Invoicing.

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 single platform of software as a service, or SaaS; products and financial technology solutions that give restaurants everything they need to run their business across point of sale; operations; digital ordering and delivery; marketing and loyalty; and team management. By serving as the restaurant operating system across dine-in, takeout, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.

^[1] Toast Invoicing is available at no additional monthly cost. Online payments accepted through Toast Invoicing are processed as card not present transactions subject to processing fees.
^[2] Data from Voice of the Restaurant Industry, served by Toast. Toast conducted a blind survey of 956 restaurant decision-makers from May 13, 2022, to June 28, 2022. Respondents were not made aware that Toast was fielding the study. Incentives for participation were granted to respondents from the panels that conducted the survey.

TOST-CORP

Source: Toast, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005067/en/

Media: media@toasttab.com

Investors: IR@toasttab.com

Source: Toast, Inc.

FAQ

What is Toast Invoicing?

Toast Invoicing is a new product by Toast that helps restaurants manage catering and wholesale orders, streamlining invoicing and payment processes.

How much does Toast Invoicing cost?

Toast Invoicing is available at no additional monthly cost to existing Toast customers.

What percentage of restaurants offer catering services?

According to Toast's survey, 72% of restaurants provide catering in addition to on-site services.

How does Toast Invoicing improve operational efficiency?

It integrates invoicing with existing systems, allowing for streamlined order tracking and payment collection.

What features does Toast Invoicing offer?

Toast Invoicing allows restaurants to itemize invoices from their menu, accept tips, and send invoices from any device.