Since its inception, FarEye with its machine learning (ML) powered platform is enabling postal companies including UPS, Lithuania Post and Posti to orchestrate, track, and optimise their logistics operations. Empowering global enterprises in making deliveries more customer-centric, helping them shrink delivery time by up to 27%, increase courier productivity by up to 15% and cut risks by up to 57%, FarEye has assisted postal and parcel services to achieve operational excellence even during COVID-19 induced restrictions and consequent lockdowns.
With digital connectivity on the rise and the pandemic fueling growth, the postal industry remains focussed on generating growth, increasing efficiency and investing in both a physical and digital future. Leveraging trusted technology, strong partners and regional last-mile networks, posts are looking to grow their share of the global, dynamic and highly-competitive B2C delivery market – which is driven by the e-commerce boom.
Additionally, with last-mile parcel delivery expected to grow to $62 million by 2025, investing in technologies like experience loyalty solution allow brands to provide seamlessly connected online to offline experience by engaging customers on an emotional as well as transactional level.
On World Post Day (October 10), looking back on how much has changed in the last decade, Kushal Nahata, CEO and Co-Founder of FarEye said, “In an online world today, a brand experience is largely defined by its logistics journey. In fact, logistics is the only actual touch point between the brand and its customer. In order to scale and sustain growth, onboarding the right technology will prove to be the winning shot for this industry. FarEye is enabling postals to guarantee delightful, branded and personalised customer experiences which in turn will help their customers to drive business growth and ensure brand loyalty.”
“Despite ongoing changes in the ecosystem, the postal industry continues to reinvent. Parcels remain at the centre of growth, contributing almost half of the aggregate increase in revenue. While posts delivered fewer letters worldwide, volume declines were partially offset by growth in small e-commerce packets,” Nahata added.
Kastytis Valantinas, Director of Operations, Lithuania Post said, “In the past months, both the postal sector (+courier) and the needs of our clients transformed. Quarantine resulted in rising online sales and the boom of e-commerce, thus Lithuania post had to change as well. In just a few days we managed to rebuild over 100 inner processes to accommodate the increasing number of parcels and health security.”
“Data helped us to reach best decisions – redirect parcels from couriers to mobile postmen, effectively use our network of parcel lockers to ensure parcel delivery with no human contact. In 2020, 1.6 million parcels were delivered through parcel lockers – this quantity exceeded last year’s results by the end of June,” Valantinas added.
Tommi Kässi, VP- Large Domestic Customers, Parcel and e-commerce at Posti said, “During COVID-19 we’re seeing a +32% growth in Parcel deliveries in Finland and the Baltics, and a growing demand for home deliveries and in order to meet this demand and new requirements from our customers we need easily adoptable and flexible solutions like FarEye.”
Jonas Hagner, CTO, Posti said, “Versatile, configurable, user friendly, API ready cloud-based solutions are one cornerstone in our ICT and legacy modernisation strategy and FarEye fits that bill perfectly.”