Time to say good-bye to boring catering offers and the endless piles of invoices
The markets of food delivery and benefits in kind are among the most active and rapidly growing segments, with a lot of mergers and acquisitions and immense capital injections. The online platform of Ordit offering food delivery service and benefits in kind for companies has brought something new to this expanding sector. On this platform companies and employees can order food in the simplest way possible – without any unnecessary administration and invoices. We asked Péter Szendrényi, CEO of Ordit.
Ordit can make it very easy for employees to manage corporate catering services. How does it work?
On our platform, large enterprises can place orders with the best restaurants and catering service providers. What is unique about our service is that they can establish different rules for ordering both for individuals and teams, and even for whole departments. In practice it means that employees can order food based on preset corporate rules against a virtual budget. So they don’t need to pay to the delivery person and they don’t need to ask for the invoice either.
If a company places an order for a meeting or other event, the whole process can be performed by one person, but in line with the meal policy it can be even determined under what time and space limitation employees can use our system. It can be specified whether a rule applies only for weekdays, whether the budget can be used only for overtime hours. In addition to it, in the case of home office, employees can order food not only to the office but to their homes, as well.
So from a corporate perspective, it is worth choosing Ordit because we only need to contract with one supplier, i.e. Ordit?
Indeed, it is enough to contract with a single vendor (Ordit). We provide each corporate entity with a dedicated account manager. They can reach offers from more than 150 restaurants and event halls. Of course restaurants also undertake to perform immediate deliveries, so the orders may arrive even in 60 minutes. Exclusive catering service providers offer their services in the case of higher number of orders. We are available to our corporate clients also in the case of special needs, if for example they would like to order cupcakes or cold pressed juices with a unique logo.
We currently work with 150 restaurants and catering partners, with whom corporate entities can place any orders online with a specified delivery date, there is no need for preliminary fee proposal even in the case of company events.
We keep track of each and every order ensuring that every single meal is delivered by the specified time, in the highest quality possible. We provide a 24-hour support, we are available also at the weekends.
How did the idea of establishing this startup come to your mind?
The thought came to me by chance. I was just working on a research program at Morgan Stanley, exploring the food delivery market. In Europe all food delivery platforms focused exclusively on private individuals, none of them had any corporate solutions. Since I haven’t found any similar solutions, I thought it was worth starting it.
One could see it already back in 2014 that not only the market actors, but also the market itself was growing rapidly, with the number of active users increasing by 50% every year since 2010. And this growth was achieved while 70% of people were either still offline or placing orders with the restaurants directly and not via an aggregator. However, there is a very typical trend of more and more people placing orders online day by day on an aggregated platform especially on smartphones. This is happening now all over the world. There is vast growth: the market is estimated to grow tenfold by 2030.
And there are already huge companies in the market.
The market actors focusing on the retail market follow more or less the same concept, while we knew it already at the very beginning when preparing for the launch that we had to provide a significant innovation if we wanted to be competitive. That’s why technological development plays a key role at Ordit. We combined food ordering with the latest fintech and HR tech solutions. In Europe there is no other supplier offering as complex integrated corporate solution as the one provided by us.
At Ordit, user experience and customer support are top priorities. Our mission is to be the market leader B2B food ordering platform of Europe.
Can we say that this conception and the exit from mnc sector was a natural move for you to take?
I wanted to move a bit further away from the secure business environment I was used to. I had been always interested in how it would be to launch an own business. I have been working on developing this enterprise with 100% focus since March 2016.
What is the most attractive for companies choosing you?
The key problem for companies is the lack of a wide range of choices as well as administration and loads of invoices, in most of the cases paper-based ones, which are often issued inappropriately and easily get lost. The lengthy accounting processes and approvals come only after this, and usually it can take a lot of time to get the reimbursement. When using Ordit employees don’t need to pre-finance the costs and ask for invoices at all.
What we offer can not only make the process easier and simpler but makes it vanish totally.
By using Ordit, the administrative burden of companies can reduce to zero, there is no need to request invoices any more, there is no need to pay for single orders, they only receive one electronic invoice a month, which can be integrated to Expense Management Software as well.
Apart from controlling costs, we also manage the allocation of costs automatically, we issue the monthly invoice in a breakdown convenient for the company. Orders can be placed any time and everything works in line with the preset meal policy.
Meals can be ordered not only from the restaurants delivering to the office but also in offsite locations?
This is the dineout service offered by Ordit, i.e. exclusive restaurants are also available on the platform. If a company would like to reserve a table for a business lunch or a team building, they can do so in offsite locations as well, and can utilize the same budget. In the UK and Austria, employees can pay with Ordit prepaid card in any restaurant outside the office.
Do you plan to expand your services?
We are introducing an additional service, through which the budget can be utilized anywhere outside the office – for the purposes specified by the company – and by this the gate opens to place orders not only for meals but even for taxi or accommodation.
Benefits in kind and improving the employees’ satisfaction are the key factors in developing this platform.
In this spirit we are making partnerships, e.g. in the UK we came to a partnership with the company operating the largest website offering benefits in kind of the world. Therefore, there are special benefits available for employees in the Ordit surface, exclusively provided for companies, not available at other sources. The integration is expected to be finished in September.
Are you thinking about introducing logistic solutions?
That is another dimension. Currently we only manage delivery in London, providing us and our customers with the opportunity for real-time tracking of the exact position of the delivery person. We are also thinking about introducing a similar service in Vienna, whereas in Budapest our restaurant partners are the ones responsible for delivery.
In London, the market environment, the extent of digitization, the frequency of orders as well as the online meal ordering culture is way above the level of any other places in Europe. Online food delivery market in the UK exceeds the total of food delivery markets in all the other countries all over Europe. This is because many more people place orders online and they order much more frequently than in any other countries.
In Hungary a crucial point is taxation. In other countries, companies can be eligible for tax credit or allowance by providing their employees with meals as benefits in kind or by ordering meals to the office. We can develop even despite the Hungarian taxation environment because our solution has added value for enterprises, saving much time and money. Employee satisfaction and employer branding are developing rapidly in Hungary as well, which is very favorable for us, because the solution offered by Ordit is one of the most attractive benefits in kind.
How can TrustChain Platform be integrated into your operation?
We are working together with numerous partners and therefore the service offered by TrustChain to facilitate secure digital contracting is crucial. On an international level we cannot make contracts in a traditional, paper-based way any more – it would make our processes very slow – but the overlap is very good from the target markets’ and customers’ point of view as well.
We also believe in digitization, paper-free operation – both from a business and an environmental perspective.
What is your team like?
In Hungary there is one sales manager, some account managers and some persons at the customer service desk and IT professionals assisting with the process but the UK and the Austrian teams are growing quickly as well. Relating to international expansion we received a EUR 3 million growth investment from Euroventures. Our aim is to build a team of 10 members focused on sales in every location but support and IT functions stay in Hungary.