India’s largest food delivery marketplace foodpanda has launched a corporate account product, specifically targeted at companies offering to pay for meals in the office. The service is already available to corporate customers in India, Singapore, Hong Kong, Indonesia and the Philippines, with more of foodpanda’s 40 markets to follow.
The foodpanda corporate product offers various features specialized in making it easier for companies and employees to order meals in the office.
Companies will be able to manage and control budget rules for employees by setting budget allowances, order frequencies, dates and times. The service makes it much 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. The product 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: “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”
Food provided for free to employees plays a significant role in employee motivation. In a recent foodpanda-study with over 1,000 participants, fully reimbursed meals came out on top of all potential office perk options, closely followed by financial support for continuous education and gym memberships. Two out of three respondents feel that companies that provide food for employees value their employees more and sharing meals with colleagues improves camaraderie and collaboration between departments. 60% mentioned that they would be willing to voluntarily work longer hours if food is provided. Companies that make an effort to recognize their employees are the ones that typically rate highly on employee engagement surveys. The full report of the survey can be found attached.