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Food and Beverages | Wednesday, May 22, 2019
FREMONT, CA: Toast, a U.S.-based restaurant management technology company launched a brand new payroll and HR solution, “Toast Payroll & Team Management,” for the hoteliers. The new solution allows the restaurant heads to manage employees and payrolls by automating, on-board streamlining, and reducing compliance risk.
The Toast Point of Sale can be integrated with the payroll and HR management, allowing the hoteliers to go online and manage employees, with precise tracking of work hours across different locations, and make salary payments on time. The new solution by Toast enables the operators to restructure employees, digitize the back office operations, and eliminate the paperwork. This assists in curbing manual errors and aids in completing work exactly after the transaction is carried out.
Companies can reduce compliance risk by the possession of crisp and clear federal tax filings and state-specific regulations through the solution. The solution uses an applicant tracking and performance management feature to employ, manage, and develop workers on a single system.
The Toast Payroll & Team Management solution is a holistic system for managing, onboarding, and paying terms, which has already been deployed by a U.S.-based restaurant. The management system has digitized employee experience and systematize payroll along with other functions. The restaurant is operating in 19 locations across the country. The management solution by Toast is said to have saved the restaurant 10 hours per week managing the auditing and payroll for the employees of more than 250. The total percentage accounted for a 60 percent reduction in manual back-office work.
Additionally, the restaurateur reported that the streamlined onboarding and elimination of paperwork was seen as the front-line managers could focus on developing the teams and delivering an exciting experience for the customer. By the end of Series E funding round, which was led by TCV and Tiger Global Management to expand the platform, Toast raised $250 Million.