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Case Studies in Cost Savings and Efficiency
- Online Ordering, Billing, and Reporting for Large Investment Bank
- SeamlessWeb Individual Meals: Overtime Meals Made Simple For Attorneys Firm
- SeamlessWeb Group Order: Secure, Efficient Lunch Ordering at Hedge Fund
- Corporate Meals and Catering for Fortune 500 Company
- Financial Controls and Reporting, Workplace Perk for Growing Investment Bank
Online Ordering, Billing, and Reporting for Large Investment Bank
Challenge:
Bulge-bracket investment bank with over 40,000 employees worldwide wanted an easy mechanism to enable certain employees to order food online.
Solution:
Access to SeamlessWeb was limited to certain departments within the bank and a link to SeamlessWeb was placed on the firm's intranet for those groups. Budgetary rules and controls were implemented and departmental reports were engaged to break down activity by project code and individual (distributed weekly to certain managers within each group). Electronic invoicing was enabled, and accounting and reimbursement processes were automated.
Result:
- Meal reimbursement is conducted electronically, accounting processes have been streamlined, and workplace productivity has improved
- Employees enjoy significant selection, convenience of online menus and stored favorite meals, delivery and payment information. Ordering food is faster and more efficient, convenient and accurate. Consequently, employee morale is significantly higher
- A money-losing cafeteria was closed and the hours of other cafeterias were scaled back. SeamlessWeb's discounted meal packages reduced overall expenses by almost 35%.
Cost Savings:
Total cost savings realized by using SeamlessWeb: $1.7MM per year.
SeamlessWeb Individual Meals: Overtime Meals Made Simple For Attorneys Firm
Challenge:
Law firm with more than 140 employees wanted to reduce spend related to individual meals and catering, eliminate the reimbursement process for food, implement budgetary controls for food spend across differing time periods, and close its in-house cafeteria during non-peak times.
Solution:
SeamlessWeb's electronic platform for ordering and billing was released to all attorneys, then, three weeks later, to all paralegal and support staff (with a multitude of budgetary and availability controls across different user groups).
Result:
- All employees have an ordering platform for lunch and dinner.
- Personal credit card ordering was enabled and employees were given an easy way to order from the most popular local vendors.
- Clients of the firm were billed more quickly and accurately, and a valuable perk was offered to employees.
- Administrative and billing processes were streamlined significantly.
Cost Savings:
Total cost savings realized by using SeamlessWeb: $114,000 per year.
SeamlessWeb Group Order: Secure, Efficient Lunch Ordering at Hedge Fund
Challenge:
Hedge fund with more than 55 traders needed to reduce the administration inefficiencies of its group ordering lunch program and enforce stringent budgetary controls while maintaining control over vendor selection.
Solution:
Administrators were given access to SeamlessWeb Group Order (SeamlessWeb GO). Employees were provided with online ordering capabilities supported by budgetary constraints.
Result:
- Orders are aggregated and delivered to prevent delivery personnel from wandering around trading desk area, improving security and eliminating distractions
- Employees order lunch from their desktop PCs, eliminating the need to pass around outdated menus, leave open positions at their desks, or excuse themselves from meetings to sign up for lunch
- The daily lunch budget is capped for a certain time period, resulting in 100% adherence to budget guidelines
- Administrators limit the available vendors participating in SeamlessWeb GO, which rotate each day for broad selection with complete control
Cost Savings:
Estimated total savings by implementing SeamlessWeb: $137,000 per year.
Corporate Meals and Catering for Fortune 500 Company
Challenge:
Fortune 500 multinational corporation with over 16,000 employees globally wanted to outsource all individual meal and catering purchases to outside vendors and close its financially underperforming cafeteria during unprofitable times.
Solution:
SeamlessWeb set up online access to firm favorites in 16 categories of meetings across six price points and automated the entire conference room planning process. SeamlessWeb's catering report was uploaded directly into the client's conference room planning tool so all information for meetings was managed in a centralized database. Online ordering was enabled for all employees, complete with budgetary controls, client code validation, electronic reimbursement and invoice download directly to the client's accounting system.
Result:
- 100% cost capture has been supported and has expedited receivables processing
- SeamlessWeb provided a comprehensive foodservice solution from purchase to payment for all meals and catering
- Employee morale has increased substantially because of expansive selection of local restaurants and caterers
- Accounting and conference room management processes have been automated
Cost Savings:
Estimated total savings by implementing SeamlessWeb: $1.1MM per year.
Financial Controls and Reporting, and Workplace Perk for Growing Investment Bank
Challenge:
Boutique investment bank with 45 employees wanted to gain control over the food spending habits of its bankers. User adoption was a major consideration as it was essential that SeamlessWeb be perceived as a workplace perk.
Solution:
SeamlessWeb's online ordering and billing solution was introduced to all employees. Administrators were given access to SeamlessWeb's ordering and billing management tools, and SeamlessWeb's catering tools enabled firm favorites for five categories of meetings across three price points. Customized spending reports and flags were enabled for accounting personnel to monitor food spend more closely.
Result:
- Full-scale implementation of SeamlessWeb slashed food-related expenses
- SeamlessWeb Catering increased accuracy of meeting planning
- Budgetary rules and controls were implemented with departmental reports to provide managers with information on spending habits
- Substantial increase in employee morale and productivity
Cost Savings:
Estimated total savings by implementing SeamlessWeb: $38,000 per year.