Toast Inc. (NYSE: TOST) moved down over 4.63% to $17.09 in preopening session after the firm releases Toast Invoicing, a new tool designed to assist restaurants handle catering and wholesale orders in addition to their in-person, takeaway, and delivery operations. Toast Invoicing, which is available to existing clients at no additional monthly cost1, helps restaurants to streamline operations and simplify payments for all sorts of orders and events, combining income streams that would otherwise require several systems to manage.
Toast’s president and co-founder, Aman Narang said whether it’s a bakery completing a wedding order or a downtown brewery selling craft beer to other local businesses, eateries have grown to provide more than simply a fantastic on-site experience. Under one roof, their customers manage in-person dining, online orders, catering, and wholesale orders. Toast Invoicing is another important building piece for businesses looking to extend their service offerings and grow their whole business on the Toast platform.
The cake store manager at Luna Bakery & Cafe, explained, Brynn Keefe said he used to set aside one to two days for invoicing. He can now submit a contract through invoice in five or ten minutes and have the buyer pay it within a day or two. They never imagined the food sector would require as much technology as they do. He can’t fathom his life without Toast Invoicing now that it’s here.
According to Toast’s inaugural Voice of the Restaurant Industry study, 72% of restaurants provide catering in addition to their on-premise service. Catering is one of the top three priorities for restaurant owners and operators in 2023. 2 Many restaurants, however, require a specialized method to charge clients for catering, wholesale, and house account balances.
By linking the invoices with a restaurant’s existing sales and operations, Toast Invoicing removes the need for numerous systems. With integrated order and payment monitoring, Toast Invoicing enables restaurants to: Streamline catering and wholesale – Toast Invoicing makes it simple for restaurants to record orders online, issue estimates, print full-page prep sheets, and track orders using a calendar view that is completely integrated with Toast Point of Sale and Toast Kitchen Display System (KDS). Everyone from catering managers to back of house workers has access to the tools and information they need to succeed.