Toast Test Flashcards

Questions and Answers

How many printers are required for a customer using a KDS?

At least one

Can a customer reuse their existing printers?

False

What key benefits does Toast hardware and networking provide to customers?

Reliable performance and durable devices built to fit their needs

How many USB peripherals can a terminal incorporate?

1 Signup and view all the answers

Customers utilizing the Toast Go's should have 1 wireless access point for every ___ sq ft

1000 Signup and view all the answers

To optimize our customer experience, Toast recommends an internet speed of ____

15 Mbps download/5 Mbps upload Signup and view all the answers

What can't Toast do in offline mode?

Sync and share orders between tablets Signup and view all the answers

What are some benefits of the Toast Go?

Seamless guest experience and lightweight, durable with 14+ hour battery life Signup and view all the answers

What are some benefits of the KDS?

Improved kitchen efficiency, kitchen analytics, better communication between FOH and BOH Signup and view all the answers

What are the three parts of a positioning statement?

Definition, Differentiator, Deliverable Signup and view all the answers

True or False: a positioning statement and a mission statement are the same thing.

False Signup and view all the answers

Which of the following is Toast's primary differentiator?

We are restaurant specific Signup and view all the answers

What is the #1 overall key purchasing criteria for all restaurant types?

System reliability Signup and view all the answers

Which KPC is relatively more important to all restaurant types?

Hardware durability Signup and view all the answers

Select the phrase that best represents Toast's primary definition.

Restaurant management platform Signup and view all the answers

Which restaurant segment is most likely to purchase Toast online ordering?

Fast casual Signup and view all the answers

Select the restaurant segment with the highest average ticket size.

Full Service - Fine dining Signup and view all the answers

Select the restaurant segment with the lowest average number of terminals purchased.

Cafe/bakery/food truck Signup and view all the answers

Which of the following is not one of Toast's target segments for 2018?

Fast Food (traditional QSR) Signup and view all the answers

SAs are measured on demos and wins, just like AEs.

True Signup and view all the answers

What is the definition of an SA?

Sales Associate Signup and view all the answers

Toast has two separate SA teams, inbound and outbound.

True Signup and view all the answers

I will work with my ___ SA on a day-to-day basis.

Outbound Signup and view all the answers

How many target leads should you provide your SA on an ongoing basis?

50 Signup and view all the answers

What day is a mandatory pipeline and strategy call with your SAs held?

Monday Signup and view all the answers

How many calling days in advance do you need to keep your calendar up to date for your SA?

5 days in advance Signup and view all the answers

How soon should I mark a demo within Salesforce after I do a demo and/or discovery?

Immediately after the meeting! Signup and view all the answers

When an inbound SA puts a demo discovery on your calendar, these meetings are going to be ___?

HOT HOT HOT! Signup and view all the answers

How should you work with your SA daily?

Very closely, there's a checklist for us to follow to start Signup and view all the answers

What does BANT stand for?

Budget, authority, need, timeline Signup and view all the answers

What is the monthly opportunities created target?

20 Signup and view all the answers

The four buying influences we identified are:

Economic, user, technical, coach Signup and view all the answers

Coaches (champions) can be found outside of the restaurant?

True Signup and view all the answers

It's a best practice to always involve multiple influences.

True Signup and view all the answers

You should always have a min of ___ target leads in your pipeline?

50 Signup and view all the answers

Self-sourced prospecting activities include:

Walk-in, phone call, email, social outreach Signup and view all the answers

What day does the customer first get billed for software if they are not financing?

Start date or go-live date, whichever comes first Signup and view all the answers

Do I need CC BizOps on all my Docusigns?

False Signup and view all the answers

Which team do I reach out to regarding implementation questions and holding installation dates?

Services Signup and view all the answers

Which team do I reach out to regarding credit card rates?

Toast payments Signup and view all the answers

Who do I reach out to with questions about how to send a Docusign?

BizOps Signup and view all the answers

T/F: Each account can only have 1 actively working 'new business' opportunity?

True Signup and view all the answers

The majority of API integrations require a single recurring fee - how much is it?

$25/month Signup and view all the answers

When financing, by what deadline must a customer be approved in order to stay booked for the month?

11:59 local time on the second business day after the EOM Signup and view all the answers

Customer signs with a valid CC deposit but is on hold (need a TIN #). Will the deal still book for the month?

True Signup and view all the answers

Who do I reach out to for retrying a deposit charge attempt?

Billing Signup and view all the answers

What is the Toast flat rate for swiped/dipped Visa/Mastercard/Discover for SMB?

2.49% + 15 cents Signup and view all the answers

What is the Toast Flat Rate for American Express Direct?

0.15% + 7 cents Signup and view all the answers

What is interchange?

Cost of each card charged by the bank that issued that card Signup and view all the answers

What is PCI Compliance?

Security Standards for CC merchants to maintain data regulations Signup and view all the answers

How are AMEX direct transactions different than Visa/Mastercard/Discover transactions?

We don't directly process AMEX Direct. We just add a markup. Signup and view all the answers

Why does Toast charge 15 cents?

This covers some of the IC costs, network, and processing fees Signup and view all the answers

Why does Toast Payments require at least one full month of statements in order to match rates?

Statements must show an accurate card mix taken in a month Signup and view all the answers

How does Toast calculate a customer's effective rate for a month?

Total fees/total volume Signup and view all the answers

Under what qualifications does Toast offer OptBlue to customers?

Under $1M in annual volume by Tax ID Signup and view all the answers

What is the preferred and proper way to contact the payments team should you need assistance?

Email a calendar invite to <a href="mailto:[email protected]">[email protected]</a> Signup and view all the answers

What's the required term length for a 0% financing deal?

36 months Signup and view all the answers

For a financed deal, what's due on signing with the 3rd party lender?

First and last + processing fee Signup and view all the answers

For a financed deal, what does the customer need to sign?

Toast financing agreement and financing docs Signup and view all the answers

For 0% financing, we've seen customers get approved with credit scores of:

As low as 590 Signup and view all the answers

Can financed customers pay off their balances with the lender early?

True Signup and view all the answers

What's included in a customer's 3 year financing contract?

All upfront costs + software for 3 years Signup and view all the answers

For 0% financing, lenders will often request to strengthen the credit app. What doesn't help?

Credit card processing statements Signup and view all the answers

T/F: For 0% financing, Toast pays a subsidy to the vendors up-front.

True Signup and view all the answers

When is the first payment due on a new loan for a customer who's elected financing?

When they complete the financing documents Signup and view all the answers

T/F: A customer who applies for Toast financing is agreeing to a hard credit pull?

True Signup and view all the answers

Which audiences will help you become the Mayor of your town?

Customers, Local partners, Integration Partners Signup and view all the answers

True or False: Referrals are your most efficient type of lead.

True Signup and view all the answers

For a referrer to be paid their bonus, you must fill out referrer name, email, company, and ____

referral detail Signup and view all the answers

Which of the following are goals of Toast's integration partner program?

All of the above Signup and view all the answers

How much does it cost to use integrations available in Toast Partner Connect?

$25/month per location Signup and view all the answers

3 Integrations do NOT require the API subscription. Which of the below DOES?

GrubHub Signup and view all the answers

What's the best way to describe go-to-market integration partners?

Partners that all Toast's customers can choose to integrate with Signup and view all the answers

What is the name of the document you favorited with instruction for how to use this tool?

Local Partner Lead Share Tool Instructions Signup and view all the answers

Where should you register your local partners?

pos.toasttab.com/partner/register Signup and view all the answers

How can you find out who integrates with Toast and is a partner?

All of the above Signup and view all the answers

How can you create value for our partners?

Share intel about the market and your territory, Offer bonus incentives for referrals, Launch a lead share group and invite partner contact Signup and view all the answers

What is the best way to find out if Toast is going to integrate with a partner?

#integrations Slack, Check the partner Wiki Signup and view all the answers

Which resources will tell me the integrations being used in my territory?

Partner Popularity Sheet Signup and view all the answers

Prospect uses a technology that does not integrate with Toast. What can you do?

Check the Wiki to see if we plan to integrate with this tool, See if there's an existing partner with similar functionality, Make the company apply at pos.toasttab.com/partners Signup and view all the answers

How can Toast partners help you as a sales rep?

Compliment Toast's core product with solutions and services, Advocate for you and Toast and introduce you to leads Signup and view all the answers

Study Notes

KDS and Printer Requirements

At least one printer is required for a customer using a Kitchen Display System (KDS).
Existing printers cannot be reused for Toast services.

Toast Hardware and Networking

Toast hardware offers reliable performance and durable devices tailored to customer needs.
Each terminal can incorporate only one USB peripheral.

Connectivity and Internet Speed

Customers utilizing Toast Go should have one wireless access point for every 1,000 square feet.
Recommended internet speed for optimal customer experience is 15 Mbps download and 5 Mbps upload.

Offline Functionality

In offline mode, Toast cannot sync and share orders between tablets.

Benefits of Toast Go and KDS

Toast Go provides a seamless guest experience and is lightweight, with a battery life exceeding 14 hours.
Key benefits of KDS include improved kitchen efficiency, kitchen analytics, and enhanced communication between front-of-house (FOH) and back-of-house (BOH).

Positioning Statement Components

A positioning statement consists of three parts: definition, differentiator, and deliverable.
A positioning statement is distinct from a mission statement.

Toast's Market Differentiators

Toast's primary differentiator is its specific focus on restaurant management.
The top key purchasing criteria for all restaurant types is system reliability, followed closely by hardware durability.

Restaurant Segmentation Insights

Fast casual restaurants are most likely to purchase Toast online ordering.
Full service - fine dining restaurants have the highest average ticket size.
Café, bakery, and food truck segments purchase the lowest number of terminals.

Sales Associate Structure and Responsibilities

Sales Associates (SAs) are measured on demos and wins, similar to Account Executives (AEs).
There are two separate SA teams: inbound and outbound.
Daily work with outbound SA involves following a specific checklist and providing 50 ongoing target leads.

Prospective Sales and Meetings

A mandatory pipeline and strategy call with SAs is held on Mondays.
It is crucial to mark demo meetings in Salesforce immediately after they occur.

BANT Framework and Monthly Targets

BANT stands for Budget, Authority, Need, and Timeline.
Monthly target for created opportunities is set at 20.

Influences in Sales

The four buying influences include economic, user, technical, and coach.
Involving multiple influences in the sales process is considered a best practice.

Financial and Billing Information

The customer first gets billed for software on the start or go-live date if not financing.
The Toast flat rate for swiped/dipped Visa/Mastercard/Discover transactions is 2.49% plus 15 cents.

Financing and Credit Assessment

A 0% financing deal requires a term length of 36 months and can be approved for customers with credit scores as low as 590.
Customers can pay off financed balances early without penalties.

Integration Partnerships and Costs

Integrations available in Toast Partner Connect cost $25/month per location, excluding certain integrations.
Go-to-market integration partners are those that can be integrated by all Toast customers.

Partner Contribution and Resources

Partners can enhance the Toast product by offering complementary solutions and services and advocating for Toast.
Resources for integration information include the partner Wiki, integration feature matrix, and the Toast website.

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Description

Test your knowledge on Toast hardware and network requirements with these flashcards. Each card focuses on different aspects such as printer needs, hardware benefits, and peripheral capabilities. Perfect for anyone looking to understand Toast's functionalities better.