Consolidation Comes for the Restaurant Back Office
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Consolidation of restaurant tech companies has been a topic for years. And in the last few months, deals like PAR’s acquisition of guest loyalty platform Punchh and Squarespace nabbing hospitality company Tock suggest M&A is alive and well in restaurant tech.
News from the last week suggests that the next big area of restaurant tech up for consolidation is the restaurant back office.
Toast, which wants to be the Swiss Army Knife of restaurant tech, recently said it is acquiring xtraCHEF, whose software digitizes and organizes back-of-house and back-office tasks. Think accounting, scheduling management, inventory management, and budgeting. While Toast’s partner network features a number of different back-office software platforms,…