Toast (NYSE: TOST) surged over 4.76% in early trading session on Tuesday as the analysts a Mizuho Securities thinks the firm might reach profitability in 2023. The cloud-based restaurant management software firm that offers an all-in-one point-of-sale system to eateries in August, the business upgraded its financial projections, noting that there had been no signs of a slowdown in consumer demand or spending at restaurants through July.
The all-in-one digital platform built for restaurants, Toast announced the release of Toast Invoicing, a new solution 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 stated that 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. Their clients manage in-person dining, online orders, catering, and wholesale orders all under one roof, and Toast Invoicing is another critical building element for restaurants looking to extend their service models and develop their whole company on one platform with Toast.
Brynn Keefe, the cake store manager of Luna Bakery & Café, revealed that he used to set aside one to two days for billing. He may now submit a contract through invoice in five or ten minutes and have the buyer pay it within a day or two. He never imagined the food sector would require so much technology. He can’t fathom 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, but many businesses require a separate system to charge consumers 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.