Restaurant365 helps more than 10,000 restaurants maximize their profits every day
IRVINE, Calif. — The only cloud-based restaurant accounting software with an all-in-one restaurant management solution, Restaurant365 saves restaurant owners and operators weeks worth of time when it comes to accounting, controlling food costs, optimizing labor costs and accurate and timely reporting.
Restaurant365 has recently released fully-integrated, end-to-end Accounts Payable (AP) automation, Bank Direct Connect and Fixed Assets within their software to increase user efficiency. Most restaurant companies have either a manual process for entering, approving and paying invoices, or resort to using multiple third-party systems to try to automate and record these elements. Restaurant365 is the first and only company to provide complete AP Automation, built specifically for restaurants, in a single platform. Relentless innovation is required to stay ahead of customer needs. As a result, in 2019, the company released Bank Direct Connect, which allows customers to connect directly to their bank accounts to import bank activity, and Fixed Assets, an integrated solution which eliminates the need for additional spreadsheets or a dedicated fixed asset software.
In June 2019, Restaurant365 closed on an $88 million minority investment led by ICONIQ Capital, a leading Silicon Valley growth equity firm. This was the third round of funding since January 2018 that has helped fuel Restaurant365’s rapid growth after closing nearly $40 million in Series A and Series B financing with minority investments in January 2018 and January 2019 led by Bessemer Venture Partners. Posting its third consecutive year of doubled growth, Restaurant365 helps more than 10,000 restaurants maximize their profit every day with accurate, real-time reporting providing a clear view of restaurant performance.
Being the first and only all-in-one software as a service (SaaS) solution built specifically for the restaurant industry has allowed Restaurant365 to really shape the way future competitors will have to develop any solution that will try to follow in their footsteps. As with any/all other technology, as time goes on new developments will emerge and anyone wanting to remain a relevant player in the game will have to adopt these new advancements. By staying informed on what is happening in both the technology and restaurant industries, Restaurant365 will remain committed to providing the most up-to-date SaaS to make positive impacts on businesses when it comes to efficiency, cost savings, time savings and accuracy.
For more information about Restaurant365, visit www.Restaurant365.com.
Restaurant accounting is the cornerstone of Restaurant365® Software cloud-based, all-in-one restaurant management solution. Restaurant365 was founded by an experienced team of software veterans committed to developing an accounting, operations and reporting tool–specifically for restaurants–that scales and positions restaurant concepts for growth. The Restaurant365 connectors and open APIs truly enable the platform to “talk” with other systems including POS providers, payroll processors, vendors and banks. Backed by Bessemer Venture Partners, ICONIQ and Tiger Global Management. Restaurant365 is based in Irvine, Calif. with an office in Austin, Texas. For more information, please visit Restaurant365.com.
