An Ode to 2023

As we close out 2023, it would be an understatement to say this was, as every year is, a significant year, not just for us as an organization, but one for our industry. 2023 brought forth a continued realignment of technology solutions for brands, continued acquisitions (high-growth and distressed concepts), as well as a clear focus for most concepts to drastically reduce G&A expenses.

We began 2023 with 45 team members in LATAM and the US, and ended the year with 67 team members spanning 5 countries, including France, the Philippines and Japan. Along with the growth of the team, 3 new departments were formed that have contributed to our customer and cultural successes – Launch, Growth, and People Operations. We also doubled the number of vendor partnerships and sponsored our first industry conference, fortifying our position in the industry as a reliable and collaborative partner. All of these growth initiatives were taken in order to support our growing customer base of 150+ brands. As the industry faces headwinds with the questionable economic outcomes of next year, historic high inflation, labor challenges, as well as wage growth, we’re thankful for our customers trusting us as strategic advisors and managers of their tech stacks, and together, we’ll continue to forge a path of success in 2024. 

Shifting to internal successes, this past year we introduced monthly regional bonding events and pioneered company-wide engagement activities to cultivate a sense of community among our team members. We also were able to take many of our team members and their families to Disney World, a personal dream of mine for many years. In the spring, we hosted our first ever learning course on psychological safety in the workplace, creating a space for team members to learn, share & feel heard. We also implemented an open feedback system, engagement surveys and more robust performance review cycles in order to allow our teams more open lines of communication and visibility to and from their peers, managers and direct reports. Heading into 2024, our commitment to the holistic well-being of our team was further fortified with increased benefits coverage (the largest benefits upgrade to date), solidifying our pledge to nurture a workplace where our people come first. Speaking of our people, this year we were able to celebrate 4 new babies, 3 marriages, 2 engagements, 2 graduations and 6 home purchases! It’s a privilege being able to see our teams thrive personally and professionally.

We’re ending this year with a lot to be thankful for – thankful for each other, thankful for our partners in the industry, and thankful to our customers for entrusting us in managing their tech stacks and helping them grow digitally. As we look at opportunities to continue to refine our focus in allowing brands, regardless of business stage, to augment the exact expertise needed to sustain and grow their business, we look forward to announce new service offerings, opportunities and ample optimizations to continue to uphold the expectations that have been provided to us from the brands that we support. We’re excited to continue to find opportunities to be the best partners we can be for our customers and the greater food service technology ecosystem.

The best of 5&5 is ahead; we truly believe that we’re just getting started. We’re excited to step into the new year, remaining steadfast in our focus on being the most strategic managed services partner in the food service industry.

  – Johnathan Chen, Co-Founder & CEO