xtraCHEF's seamless integration with Toast provides our teams with deeper, daily insights into our Cost-of-Goods-Sold (COGS).It allows us to keep our Coach Operators on the floor delighting our guests instead of entering data manually,"Grant LiebermanDirector of TechnologyDos Toros
NEW YORK, NY (PRWEB) September 10, 2018
xtraCHEF, an automated accounts payable and food cost intelligence platform built for the restaurant industry, today announced a new partnership and integration with Toast Restaurant POS System – one of the fastest-growing restaurant management platforms in the U.S – to provide their customers with real-time financial reporting and category-level revenue vs. expense comparisons. The integration will leverage Toast’s API to automatically integrate daily sales data from Toast into xtraCHEF.
Sales data from Toast will integrate directly with several xtraCHEF modules designed to empower finance executives, managers, and chefs to more closely monitor food costs without the burden of data entry. xtraCHEF users will leverage the integrated data to easily track food cost ratios against budgeted targets and forecasted sales, compare food cost ratios across sales categories and units, and drill into real-time food cost ratio reports to better understand margins and impacts to profitability. xtraCHEF has already successfully tested the integration with a number of their clients, including Dos Toros, a growing, fast-casual Mexican concept & Toast user.
"xtraCHEF's seamless integration with Toast provides our teams with deeper, daily insights into our Cost-of-Goods-Sold (COGS). It allows us to keep our Coach Operators on the floor delighting our guests instead of entering data manually," said Grant Lieberman, Director of Technology for Dos Toros.
xtraCHEF is designed to automate data entry, a time-consuming and error-prone task required by chefs, general managers, and/or restaurant accountants to monitor and manage their payables and profitability. The integration extends xtraCHEF’s value of automatically capturing item-level purchase data from invoices and comparing that with sales and revenue data from Toast.
“In order to monitor and manage profitability effectively, successful restaurant operators typically set a target ratio of what their food costs should be in relation to their sales,” said Andy Schwartz, Co-founder and CEO of xtraCHEF. “By eliminating yet another manual touchpoint in the process of getting to these numbers, we’re removing friction, saving our clients’ time and making it easy for them to analyze and act.”
xtraCHEF is also participating in Toast’s Food for Thought events taking place today in Chicago and around the country this fall. Learn more about the event here: http://pos.toasttab.com/F4T-Chicago-XtraCHEF
xtraCHEF is an automated accounts payable and food cost intelligence platform built for the restaurant and food service industry.
xtraCHEF streamlines restaurant accounting and cost management by digitizing the AP process. We also provide a number of cost intelligence features, including interactive COGS reports and dashboards that make it easy to access, analyze and share cost- saving information across your operations.
Learn more at: http://www.xtrachef.com
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. In 2017, Toast was recognized as the third fastest-growing technology company in North America on the Deloitte Fast 500 and named to the Forbes Cloud 100. Learn more at http://www.toasttab.com/.