"As the CFO at foodpanda, I get to do the exciting work of managing the company’s financial operations and strategy across 11 markets in Asia – Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia, and Myanmar. It’s not an easy task, but I try to celebrate every win, even the small ones."
What were some of your professional highlights for 2023?
A recent highlight for me and my team would be breaking even earlier this year. Not an easy feat since it’s the first time we’ve done so in our near 12-year history!
How far in advance do you think about work strategies for the new year and how do you get started?
“Plan tomorrow, navigate today” is something I truly believe in. My team tends to start putting in plans about 15 months out. However, foodpanda is operating in a dynamic industry and given the macroeconomic environment, this requires us to take a different approach in terms of navigating the latter parts of execution. As a team, we aspire to remain agile while keeping our long term goals in focus. To provide an analogy, it’s about keeping our ship afloat and headed in the right direction.
Can you give us an overview of where you think your industry is headed in the coming year? What steps are you taking to ensure a smooth and favorable journey?
The shift to quick-commerce (q-commerce; where orders are delivered within the hour) is definitely something we’re seeing and will continue seeing in 2024. In addition to food, consumers are demanding other goods and services, such as groceries, delivered to their door.
While rapid inflation in 2023 should begin to subside, consumers will likely continue feeling the cost pressures. This is where I foresee a larger focus on affordability and flexibility to meet consumer demands.
As a tech company, this is where we continue to be energized in redefining how food, people, culture, and tech are connected. Since our founding, foodpanda has pioneered tech solutions to uplift our community of merchants, riders and customers. And we continue to be hungry to make an even bigger difference.
What is your professional New Year’s resolution?
I’d like to combine both professional and personal. Very exciting news - I have a baby on the way in 2024!
As with most new fathers-to-be, I hope to find better ways to maintain the right work-life balance. I admit 2023 was a bit more blurred than I’d have liked, but I’m hopeful for the new year. And the idea of spending more time with my newborn and family serves as a great inspiration for me.
(Related: Dr Steven Fang, Co-Founder and Executive Director, Invitrocue on Focusing Strategically for 2024)
Let’s talk about upskilling. What is the one thing you’ve always wanted to learn, but kept putting off? Is this the year you get started on it?
There are many, but one in particular sticks out – studying ChatGPT and figuring out more ways for me to use it in my daily life. I do think there are a lot of useful benefits, especially once we work out the right use cases.
I don't necessarily subscribe to the school of thought that AI replaces us – in fact, I feel that AI has the potential to help us do our work even better. For example, the introduction of calculators and Excel have forever changed the role of a finance professional. And with that, I'm sure there's a lot more evolution to come.
Working hard or working smart – which side are you on and why?
Personally, I don’t think it’s an either or. Hard work is nothing to be ashamed of. But if I have to pick, I’d choose working smart. I believe in the spirit of a maverick where it’s always good to challenge the status quo and find better ways of doing what you've always done. I’ve witnessed cases where a team can end up investing too much in doing things inefficiently. Particularly for a high volume industry like ours, we should dedicate the time and energy to finding smarter ways of doing even the smallest things that can deliver significant improvements – aka The Pareto Principle.
How are you preparing yourself physically and mentally for the new set of challenges the new year brings?
By celebrating the small wins. It’s great having extensive accomplishments both professionally and personally, such as foodpanda breaking even and having a baby. But I also realize small wins help us progress towards bigger accomplishments. Research has shown that acknowledging and celebrating these small wins can profoundly impact our motivation, confidence, and self-perception.
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