Just 10 months on from the acquisition of Reward Gateway by Edenred SE, the largest transaction in the employee engagement space for the sum of £1.15 bn, the joint organisation is going from strength to strength.
Edenred is listed on the Euronext Paris stock exchange, and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe. This strong financial backing for Reward Gateway is allowing the product development teams to take a longer term, strategic view on enhancements, market positioning and wider innovation to benefit both Reward Gateway’s and Edenred’s clients and their people.
Since the acquisition, Reward Gateway has enjoyed continued double-digit revenue growth. Operating revenue for Edenred’s Benefits & Engagement business line, which accounts for 63% of the Edenred Group’s total operating revenue, was €1,449 million in 2023, up 25.7% as reported, with a strong contribution from the acquisition of Reward Gateway, and up 19.5% like-for-like.
The combined organisation now has unrivalled scale in the HR technology arena with 12,000 employees worldwide who generated total revenues of over €2.5 billion, up 23.7% as reported, versus 2022.
Migrating to new heights
The successful migration of hundreds of UK Edenred clients onto a single employee engagement platform is already delivering a premium experience and increasing the engagement of 1000’s of employees across the UK. With the unrivalled discounts offered on the unified platform, employees can save even more money, critical as the cost of living crisis continues to have a very real impact on the lives of so many people.
Existing and migrating clients and new prospects in both the Private and Public sectors are reassured by the Group's financial security and the strict data security policies that a large listed corporate company delivers.
These are amongst the variety of reasons that The Chevron Group, Valleys to Coast Group and many others have chosen Reward Gateway after a competitive pitch. Combined with a superior product offering and exceptional service, they were convinced to move from their existing employee engagement providers to the Reward Gateway platform which has brought a significantly enhanced user experience to their 1000s of employees.
"Reward Gateway has provided the ideal solution for us to engage our diverse workforce, whether they are field, or office based. The platform is easy to use and customise, allowing us to put key business information right in front of our colleagues every time they log on, as well as providing a friendly space to recognise achievements and of course benefit from great retailer discounts." - Laura Morris, Head of Communications and Engagement, Valleys to Coast Group
International roll out
The international roll out programme, at the heart of Edenred SE’s stated Global strategy, is happening at speed and this will extend the reach of Reward Gateway‘s platform into new countries including Belgium, France, Italy, Romania, Spain. This will mean a scale and International footprint unrivalled by many of its much smaller local vendors.
New product innovation and advanced technology means Reward Gateway I Edenred is able to provide HR leaders with a truly market-leading solution. The planned roadmap and new product architecture will bring the best of both Reward Gateway and Edenred products together to form an unrivalled Private and Public sector offering. Mobile and personalisation will be at the forefront of development with a range of new features and product enhancements continuing to be launched.
Furthermore, now Reward Gateway is part of the Edenred family, platform, products and service are going to have even more investment which will mean employees’ experience will be further enhanced in the future.
This broad range of solutions already benefit millions of employees, supporting every stage of their lives. This includes personalised discounts, benefits and a bespoke employee experience working with over 2,900 retailers and partners.
In addition, over one million public sector employees benefit from the Reward Gateway | Edenred engagement platform. Public Social programmes, running in over 70 organisations, give financial support to over 772k vulnerable people each year.
Apps that truly work
App consolidation, including Edenred Savings app with Reward Gateway SmartSpending app, and the introduction of a single-entry point app, Connect+, will enhance the ease of use and access for all segments of the workforce. Regardless of whether your employees are in the office or working remotely, they will be able to instantly access their one-stop shop for all employee engagement needs.
The unrivalled service that Reward Gateway | Edenred offers its 1,000s of customers is ranked top against competitors with ‘excellence’ rating by third party source Trustpilot. Recent 5* reviews sums this up:
“A 5-star money-saving platform that allows you to access discounts and claim cashback for purchase with a wide range of retailers.” Stevie 15/3.
“I have access to Reward Gateway as a part of my work package and it's a fantastic tool with a great support team behind it.” Pete 19/3
Reward Gateway | Edenred’s premium position as the category market leader will be underscored by an exciting new brand positioning, supported by a high-profile new brand campaign from mid-April.
Soon after this, the Economic Value Study will be launched which will finally demonstrate strong correlation between employee engagement and business performance, helping HR professionals to achieve the financial buy-in they need for investment in technology to help them attract, retain and inspire employees to perform at their very best.
Learn more about the Reward Gateway Edenred product vision, product launches, unique new positioning and the Economic Value Study at the HR industry’s leading event, The Summit on the 15th May.
