Company Overview
ChouxBox is a pioneering developer of enterprise software tailored for the hospitality industry, focusing on data entry and purchase management solutions for accountants, chefs, and operators within the food and beverage sector. One of their groundbreaking developments is the industry's first "Point of Purchase" system, optimized to save up to 80% more time in managing invoices by integrating smoothly with existing accounting systems. The company is estimated to generate an annual revenue of $1.3 million with a small but agile workforce of fewer than 25 employees.
Core Offerings
- AP Automation: ChouxBox leads in the hospitality sector as the first to automate accounts payable, refining invoice processing and enhancing profitability through precise line item data.
- Restaurant Operations Support: Their suite extends to HR, payroll, scheduling, time tracking, and reporting, all designed to optimize restaurant operations.
- Back-Office Support: Streamlines back-office tasks via innovative data entry solutions, thus reducing the administrative load for restaurant proprietors.
Financial Highlights
- Revenue: Annually estimated at $1.3 million with a revenue per employee of approximately $105,000.
- Funding: Last significant funding round was a Seed round on November 1, 2014, where they raised $100,000 from 500 Global.
Leadership
- Xavier Mariezcurrena Vega: Co-founder and industry veteran with over 15 years in food and beverage management, Xavier has been instrumental in developing the AP automation platform at ChouxBox. He has managed prestigious beverage programs and co-hosts the Overseasoned Podcast.
- Tony Aiazzi: With two decades of culinary experience and roles such as Corporate Chef at the Charlie Palmer Group, Tony's culinary expertise aids ChouxBox in creating innovative technological solutions for the hospitality sector.
Market Position
ChouxBox operates in the Software & Technical Consulting sector with a niche focus on hospitality, providing sophisticated solutions that synthesize technological automation with strategic industry insights derived from the founders' extensive background.
Competitive Edge
The uniqueness of ChouxBox lies in its specialized technology combined with profound industry knowledge, offering a blend of automated invoice processing and strategic industry insights. This positions ChouxBox as a key player capable of transforming traditional business processes within hospitality through innovation and expertise.
Competitor Analysis
Restroworks
Restroworks provides holistic restaurant management solutions with a client base exceeding 23,000 restaurants worldwide. It excels in inventory management, kitchen operations, and supply chain optimization, noted for its real-time data analytics and smooth integration capabilities, enhancing operational efficiency.
- Key Features: Real-time inventory tracking, AI-driven stock management, and expansive data analytics.
- Usability: Recognized for its user-friendliness and the significant impact on operational decisions.
Restaurant365
Specializes in cloud-based solutions aimed at revolutionizing restaurant operations by integrating accounting, operations, and workforce management. Their reach extends to over 40,000 restaurant locations.
- Unique Proposition: Comprehensive integration of financial, operational, and workforce management systems.
- Scale and Impact: Operates major offices and a large remote workforce, indicating extensive industry influence.
Craftable
Craftable offers a platform intertwining purchasing, recipes, inventory, and accounting, designed to boost profitability. With a revenue of $24.3 million, it underscores robust market presence across strategic U.S. locations.
- Innovation: Seamlessly connects operational facets to enhance profit margins.
- Target Market: Focuses on high-end hotels, bars, and restaurants to drive profitability.
xtraCHEF by Toast
xtraCHEF focuses on accounts payable and cost management through machine learning and data science, offering insights to optimize menu profitability.
- Strengths: Automates tasks and integrates vendor management.
- Technological Edge: Leverages advanced technologies like machine learning for better operational outcomes.
Sourcery
Sourcery focuses on automation in accounts payable and receivable, particularly within the wholesale foodservice sector. Known for improving financial transaction efficiency post-acquisition by Lavu iPad PoS.
- Innovation Driver: Continues to innovate in financial process automation through strategic partnerships and technological advancements.
Strategic Implications
Operating in a dynamic and competitive landscape, ChouxBox could benefit from enhancing system integration capabilities, expanding analytics offerings, and exploring AI-driven innovations. Forming strategic alliances and targeting broader market segments may strengthen market position and extend operational reach.
