Company rolls out highly anticipated app and
makes major updates to new POS experience, all designed to boost
restaurant efficiency and enhance control
Toast (NYSE: TOST), the all-in-one technology platform built for
restaurants, today announced significant updates to the Toast
platform, including the launch of a new mobile app and an enhanced
point-of-sale (POS) experience. The new Toast Now mobile app
is designed to meet the dynamic nature of how owners and operators
manage restaurants and help them remain in the know, on the go, and
in control with real-time reporting and key controls. Additionally,
Toast’s new POS experience has been reimagined from the
ground up to provide users with more helpful features, workflows
designed to help speed up service, and a comprehensive design
update that introduces an attractive and streamlined new
look—resulting in a system that is easier to set up, learn, and
use. Both Toast Now and the new POS experience are available to all
Toast customers.
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“From high inflation to hectic lives, restaurant owners and
operators are often managing changing restaurant dynamics on the
go—and we believe that the right technology partner is critical to
helping keep restaurants at the top of their game,” said Steve
Fredette, President and Co-Founder of Toast. “The new Toast Now
mobile app and POS experience are purpose-built for all
restaurants, built in close collaboration with our customers, and
reaffirm that when a restaurant partners with Toast, they benefit
from ongoing innovation designed to make running a restaurant
easier, faster, and more intuitive. As we seek to serve the entire
restaurant community, Toast will continue to innovate in ways that
both meet the unique needs of different restaurant types—and also
offer universal benefits.”
Toast Now app enables Toast access from anywhere
Toast Now is designed to meet the ever-changing nature of
running a restaurant—giving owners and operators the flexibility
and control to run their restaurants from anywhere, at any time,
ensuring they are constantly connected to what’s going on, whether
on-site or a thousand miles away. In beta testing, users of Toast
Now are logging into the app approximately three times more
frequently than the average customer logged into Toast’s web
portal, as the app enables the flexibility to check in throughout
the day.1
Toast Now is designed to build an experience that is simple to
use and enables restaurants to:
- Increase access to information with real-time reporting:
Easy and instant access to performance data is critical for owners
and operators to effectively manage operations. In the Toast Now
app, managers can get real-time updates with live sales and labor
reporting—so they can easily monitor and compare top-performing
items, profitability trends, and more across different time periods
and multiple locations. Any owner and operator can leverage these
insights to make key business decisions in the moment.
- Stay in touch while on the go with Manager Log: It can
be challenging to keep tabs on operations, especially when the
owner or operator travels between multiple locations, is out
sourcing ingredients for new menu items, or is searching for new
locations for their next concept. Toast Now’s Manager Log allows
restaurant owners, operators, and managers to communicate and
coordinate with staff and stay on top of things without physically
being in the restaurant.
- Optimize kitchen flow with delivery channel control:
Staff can help ensure a seamless guest experience both on and
off-premise by managing kitchen volume. Toast Now makes it easy to
manage delivery channels with quick toggles for turning first and
third-party ordering channels on and off to ensure a manageable
flow of orders to the kitchen. With the app, owners, operators, and
managers can also remove a menu item on the fly to manage guests’
expectations and help employees solve stock shortages in real
time.
Toast Now has become a key tool to Bodega Taqueria y Tequila, a
fast-casual, Mexican-inspired restaurant with a speakeasy lounge
with seven locations in cities including Miami, Chicago,
Washington, DC, and Nashville. “We’ve given Toast Now to our whole
company, not just operations,” said Jared Galbut, CEO at Bodega.
“Teams, including Human Resources and Marketing, have found it
helpful to analyze sales and labor trends in order to better manage
our business, and we all love being able to see real-time sales
data and know how the business is performing as much as we do.”
New POS experience designed to help speed up service and
drive ease of use
According to Toast’s latest Voice of the Restaurant Industry
survey2, two of the most important purchasing considerations for
small and medium-sized restaurants in 2024 will be the depth of
features in core POS and the ability to increase guest throughput
and turn-time efficiency. Toast’s new POS experience is built to
help enable restaurants to operate seamlessly with access to more
features and controls than ever before, accompanied by intuitive
screens designed to improve speed and accuracy.
In an industry where muscle memory is everything, the guiding
principles for the new and improved design are intentionally
centered around helping users maximize every moment—from serving
busy morning commuters to getting new staff trained quickly. The
enhanced POS experience is designed to allow Toast customers of all
types to enter orders and close checks faster, easily access
information for better table service at their fingertips, and
improve the staff shift close-out process.
Examples of additional enhancements include Advanced Table
Management, designed to give servers more control and insights
that enhance the guest experience through features such as table
timers to help optimize pacing and table turnover and also indicate
which tables need attention. Servers can also be in greater control
with Server Item Fire—built to help support the right dish
coming out at just the right time. Table Screen Enhancements
on the new POS help staff eliminate errors with updates to layout,
font sizes, colors, and more. When it is time for evening service
with lower lighting, for example, the table screens now include a
Dark Mode, allowing the POS to better blend in with the
ambiance. And Open View is designed to speed up and improve
order-taking accuracy by displaying items and modifiers all at once
to help establishments with high traffic volume and highly
configurable menu items keep the line moving, even with lots of
complicated orders.
Toast customer BBQ Holdings is a growing multi-brand restaurant
company that owns and operates several restaurant brands, including
Famous Dave’s, Granite City Food and Brewery, Urban BBQ, and many
more across the United States. The new POS experience has been a
feature that restaurants across their portfolio have added to their
daily operations.
“We have seen great adoption of the new POS experience within
our brands and are excited to have a point-of-sale partnership that
provides us with new and exciting features,” said Michael Plate,
POS Manager at BBQ Holdings.
Toast Now is available on iOS and coming soon to Android, and
the new POS experience is available to all customers now. Learn
more about Toast Now and New POS Experience.
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 the launch of ToastNow and
the enhanced POS experience.
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, 2022, Toast’s Quarterly
Report on Form 10-Q for the quarter ended June 30, 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
_________________________ 1 Based on Toast internal data from
September 1 to September 30, 2023. 2 To 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%.
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