Karen DeVincent posted at Jun 10, 2021

Toast Acquires xtraCHEF to Empower Restaurants with Insights into Menu Profitability and Accounts Payable Automation

Acquisition follows successful partnership launched in June 2020

Boston, MA—June 8, 2021 - Toast, the end-to-end cloud platform purpose-built for the restaurant community, today announced it acquired xtraCHEF, a suite of back office tools for restaurants, including accounts payable automation and inventory management. Designed from the ground-up for restaurants of all sizes, xtraCHEF arms operators to take control of rising inventory costs, automate accounts payable, and streamline back office tasks to increase overall profitability.

By combining xtraCHEF’s line item level cost data with Toast’s sales data to get insights into profitability by menu item, restaurateurs will have access to automation and intelligence tools that streamline repeatable tasks including bookkeeping, managing inventory and tracking margins. The addition of xtraCHEF extends Toast’s end-to-end product ecosystem that allows the industry to build better restaurants and create better connections with both their customers and their suppliers. 

“Time is the most precious and scarce resource for restaurant operators who are constantly focused on growing their business while juggling the need to provide a delightful guest experience,” said Chris Comparato, CEO of Toast. “Together with xtraCHEF, we immediately deepen our capabilities in automating cost management for restaurants, helping restaurateurs reclaim time previously spent navigating complex, manual processes and better understand their profitability, down to the menu item. Following a successful partnership we couldn’t be more excited to officially welcome xtraCHEF to Toast as we drive our shared vision of supporting restaurants’ success with easy-to-use tools that allow them to thrive.”  

“Restaurant operators work far too hard to waste time and money,” said Andy Schwartz, CEO and co-founder of xtraCHEF. “xtraCHEF’s automated tools and dynamic, interactive dashboards make it easy for busy restaurateurs to track, compare and control costs. Now, by combining Toast’s in-depth point-of-sale data with xtraCHEF’s automated line-item details on restaurant spending, operators on the Toast platform have a true end-to-end view of their financial health. I look forward to joining the Toast team and leveraging the many opportunities that lie ahead for our industry as I continue to run and grow the xtraCHEF business along with my partner Bhavik.”

xtraCHEF will join Toast as xtraCHEF by Toast. xtraCHEF CEO and co-founder, Andy Schwartz, and CTO and co-founder, Bhavik Patel, will remain with the company in their current roles. 

Restaurant owners and operators can learn more about Toast and schedule a personalized demo here; to learn more about xtraCHEF, see here

About Toast

Launched in 2013, Toast powers successful restaurants of all sizes with a technology platform that combines restaurant POS, front of house, back of house and guest-facing technology with a diverse marketplace of third-party applications. By pairing technology with an unrivaled commitment to customer success, Toast helps restaurants streamline operations, increase revenue and deliver amazing guest experiences. Toast was named to the 2019 Forbes Fintech 50, 2019 SXSW Interactive Innovation Finals, 2018 Forbes Cloud 100, and recognized as the third fastest-growing technology company in North America on the 2017 Deloitte Fast 500. Learn more at www.toasttab.com.

Contact

Karen DeVincent-Reinbold
Sr. PR & Communications Manager
media@toasttab.com
(857) 301-6074

Learn How Toast Can Help Your Restaurant

You must have Javascript enabled in order to submit forms on our website. If you'd like to contact Toast please call us at:

(857) 301-6002

First and Last Name is required
Phone Number is required
Restaurant Name is required
loadingspinner

Are you a Toast customer? Log in to Toast.