Profits are hard to come by in this tricky food delivery sector, thus forcing even the most heavily-backed names like Foodpanda to venture out into newer, profit-generating domains. The Rocket Internet brand has thus announced the launch of corporate account product, which is targeted towards companies offering to pay for meals in the offices.”
The corporate account service is already available to select business customers in India, Singapore, Hong Kong, Indonesia and Philippines. The company will soon roll out this product to other 40 markets of the company.
This new corporate product is claimed to be offering features “specialized” in making it easier for companies and employees to order meals in the office. Companies will now be able to manage and control budget rules for employees by setting budget allowances, order frequencies, dates and times.
The service also makes it more convenient for employers to control budgets, setting maximum order values or setting different budgets for lunch or dinner, or weekday and weekend orders. Further, detailed ordering reports and monthly invoices simplify and streamline accounting.
It is designed in a way which helps to avoid expense abuse, removes the need to keep paper receipts, therefore saving much time for both employees and accounting.
For employees, the new service will allow group orders to be placed with colleagues, shared orders to merge allowances, as well as payment of remaining amounts with private credit cards. It eliminates the need to fill out expense reports and wait for reimbursement.
Saurabh Kochhar, CEO foodpanda India, CBO foodpanda global, said,
We are excited to roll out the new product, a more convenient management of orders for both companies and employees. Studies show food based perks as an important factor that helps boost employee motivation. We are happy to support this as catalyst.
Recently, Foodpanda conducted a study, with over 1,000 participants, which revealed that providing free food to employees plays a significant role in employee motivation. It came on top of all potential office perk options, followed by financial support for continuous education and gym memberships.
Foodpanda is one of the leading food marketplace in India, with menus from 12000+ restaurants across more than 200 cities. It has also partnered with Tastykhana.in and JustEat.in to help people discover and order food.
Founded in 2012 and operating in 40 countries, Foodpanda is facing intense competition from Indian food-tech startups such as Zomato, TinyOwl and Swiggy in India.