Toast Strengths, Domain Expertise, and Key Differentiators
Toast is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a comprehensive platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management.
Toast serves as an operating system for restaurants, connecting front-of-house and back-of-house operations across service models including dine-in, carry-out, delivery, catering, and retail, helping restaurants streamline operations, scale revenue, and deliver amazing guest experiences.
Toast Recent Developments
In 2023, Toast launched Toast Catering & Events, a new product fully integrated with the Toast point-of-sale (POS) to help restaurants seamlessly manage large catering orders and event planning. Toast Catering & Events supports customizable banquet event orders (BEO), fulfillment tools, and lead management functionality. Toast Catering & Events pairs with Toast Invoicing — a digital invoicing tool that Toast launched in October 2022 — to provide even deeper support for the multiple lines of service many restaurants are running today.
In 2023, Toast has made headlines with its groundbreaking agreement with Marriott International, introducing its cutting-edge Toast for Hotel Restaurants technology to food and beverage outlets within Marriott's Select service hotels in the United States and Canada. This innovative platform is tailored to meet the distinctive needs of hotel restaurant operators, boasting seamless integrations with leading hotel property management systems (PMS).
Toast has acquired xtraCHEF, a suite of back-office tools tailored for restaurants, comprising accounts payable automation and inventory management solutions. This move underscores Toast's commitment to empowering restaurant operators by providing comprehensive solutions to manage costs, automate processes, and enhance profitability.
Toast Mergers and acquisitions (M&A) Activities
In 2023, Toast acquired Delphi Display Systems, a prominent provider of digital display solutions and drive-thru technology for quick-service restaurants (QSRs). Renowned for its advanced immersive technology, Delphi has successfully deployed solutions at numerous sites worldwide.
In 2022 Toast acquired Sling, a prominent provider of employee scheduling, communication, and management solutions. This strategic move reinforces Toast's commitment to offering comprehensive team management products tailored specifically for the restaurant industry.
The integration of Sling into Toast's suite of products, including Toast Payroll & Team Management, further empowers restaurants to streamline scheduling and communication processes while ensuring faster payroll processing and improved employee engagement.
Toast Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Toast applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Toast and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Toast POS, xtraCHEF by Toast, Toast Capital customers.
Toast Overview
Ownership: - NYSE: TOST
Number of Employees: 5500
Functional Market: Scheduling, Task Management, Time and Attendance, Payroll, Onboarding, Performance Management,
Key Verticals: Leisure and Recreation, Hospitality, Retail,
Toast Key Cloud and HCM Applications
Toast POS, xtraCHEF by Toast, Toast Capital
Toast HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Toast Revenue Breakdown by Type:
Toast HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Toast HCM Applications Revenues By Verticals, $M:
Toast Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Toast Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Toast Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Toast Customers
No. of Toast Customers: 106000
No. of Toast HCM Applications Customers: x
No. of Toast Cloud HCM Customers: x
No. of Toast Cloud HCM Subscribers: x
With approximately 860,000 restaurant locations and the spectrum of clientele ranging from small and medium-sized businesses scattered across the United States, Canada, Ireland, United Kingdom, and India, the landscape of Toast's customer base reflects this vast diversity and complexity.
Among clients are: Eclipse di Luna, Saucy Asian, Luna Bakery and Cafe, Mongers Market + Kitchen, Delirium Café Launch, BANG restaurant, Ye Olde Reine Deer Inn, and others.
Toast Market Opportunities, M&A and Geo Expansions
Toast received $115 million in Series D funding to accelerate investment in research and development, recruit new talent, and expand its market presence. The financing round, led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investor Tiger Global Management, LLC – as well as existing investors – values Toast at $1.4 billion.
Toast Risks and Challenges
In 2023, with the appointment of Aman Narang as CEO of Toast, the company faced both internal and external risks along with go-to-market challenges. Narang, who previously served as Co-President and Chief Operating Officer, brings extensive experience to his new role. However, as Toast undergoes this leadership transition, there may be internal challenges in maintaining operational efficiency and cohesion. Externally, market dynamics and competition could pose threats to Toast's growth trajectory.
Toast must recognize and address the inherent risks that come with rapid growth and expansion. The surge in business operations poses challenges not only to its infrastructure but also to its employees' abilities to adapt and scale effectively. Its ability to manage this growth depends on its capacity to maintain and strengthen its finance, accounting, and IT systems.
Toast Ecosystem, Partners, Resellers and SI
In 2023 Toast forged a partnership with Cartwheel, an on-demand delivery management platform. This collaboration opens up avenues for restaurants seeking to implement a hybrid delivery system, leveraging Cartwheel's fleet-management capabilities seamlessly integrated into Toast's point-of-sale system.
Cartwheel's Hybrid Delivery technology empowers restaurants to streamline both in-house and outsourced delivery operations, offering access to a myriad of national third-party fleets, thus augmenting flexibility and choice in delivery order fulfillment.
Toast depends significantly on its direct sales force to acquire new customers and increase sales to existing customers.
Toast Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- Toast Public Cloud and Infrastructure (IaaS)
- Toast Platform (PaaS)
- Toast Application Delivery
- Toast Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
