Technology

Toast acquires xtraCHEF

Image: Provided

June 10, 2021

Boston-based restaurant cloud platform Toast has acquired a suite of back-office restaurant tools, called xtraCHEF, a news release said.

By combining xtraCHEF's line item-level cost data with Toast's sales data for insights by menu item, Toast said it will give restaurateurs access to automation and intelligence tools that streamline repeatable tasks including bookkeeping, managing inventory and tracking margins. The xtraCHEF addition is an extension of Toast's overall ecosystem.

"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," Toast CEO Chris Comparato said in the release. "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."

xtraCHEF co-founder and CEO Andy Schwartz said the company's tools help restaurateurs save time and cash.

"xtraCHEF's automated tools and dynamic, interactive dashboards make it easy for busy restaurateurs to track, compare and control costs," he said in the release. "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 Patel."

xtraCHEF will join Toast as xtraCHEF by Toast. Schwartz and co-founder Patel will remain in their current roles.