Foodology transforms its financial operations with payments in less than 24 hours

Foodology creates and operates virtual restaurant brands, specifically designed for delivery. With a presence in 4 countries, over 20 cities, and having generated more than 2 million orders, Foodology stands out as a leader in the delivery food sector.

Challenges for Foodology:

Foodology faced significant challenges in managing its international finances. They needed to move funds in different currencies across multiple global entities at a low cost. Previously, they made these transfers through traditional banks in the U.S., which involved lengthy processing times, extensive paperwork, and situations where transfers could canceled

Additionally, they were looking for a partner that could provide a platform to unify their expense management, generate unlimited credit cards for global purchases, and facilitate payments to suppliers. This challenge required an innovative and efficient solution that could scale with their rapid growth.

Jeeves solution:

With Jeeves, Foodology has found the perfect solution for their financial needs. They can now consolidate all their financial entities into one platform, which has given them access to:

Global payments with reduced FX costs and no monthly fees:

Without needing paper requests for each transfer and with payments in 24 hours or less, Foodology has managed to save approximately 25% in liquidity and reduce stress from payment delays. This has also optimized the money transfer process between their financial entities by 50%, saving about 2 hours per week of team time on paperwork generation.

Expense management platform:

Jeeves provides a platform where Foodology can manage their operations in the four countries all from one place. This includes generating unlimited credit cards for their entire team, facilitating operational purchases and paying suppliers’ bills. Unifying this expense management in one place has allowed Foodology’s finance team to save 10 hours per month, time they can now allocate to other strategies and financial tasks.

Jeeves Pay Credit:

This tool has provided Foodology with the liquidity they need to run their business leveraging advanced features like "bulk payments." This has been crucial for paying employee salaries and increasing company liquidity by 6%.

“In a business as global as ours, Jeeves has been a great ally. We can move money between our financial entities in more than 5 countries in just 3 hours with personalized customer service. We never achieved that with traditional banking.
Previously, with other platforms and traditional financial entities, it was very complicated to obtain a large credit line that allowed us to optimize expense management and supplier payments with more economical rates.”

Henry Santos, CFO of Foodology

Cross-border Payments: The best for your business

The implementation of Jeeves has transformed Foodology’s financial operations, enabling them to grow more efficiently and with greater control over their international finances. The ability to move money quickly between countries, unify expense management, and obtain liquidity through Jeeves Pay has saved significant amounts of time and money for Foodology.

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To see how you can streamline all your company's payments on a single platform at no cost, click below:

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