FarEye on World Post Day looks back how much changed

October 9, 2020: The logistics orchestration platform, FarEye has been working with Postal companies since its inception and on this World Post Day (October 9) looks back on how much has changed in the last decade.

“With digital connectivity on the rise and the pandemic fueling the growth, the postal industry remains focused on generating growth, increasing efficiency and investing in both a physical and digital future,” said the release.

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.

Last-mile parcel delivery is 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.

FarEye solutions
FarEye, with its machine-learning-based platform, is enabling global brands including UPS, Lithuania Post and Posti to orchestrate, track, and optimize their logistics operations. FarEye is empowering global enterprises in making deliveries more customer-centric, helping them shrink delivery time by up to 27 percent, increase courier productivity by up to 15 percent, and cut risks by up to 57 percent. This has assisted postal and parcel services to achieve operational excellence, even with Covid-19 restrictions and consequent lockdowns.

Kushal Nahata, CEO and co-founder of FarEye said,” 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. In an online world today, a brand experience is largely defined by its logistics journey. In fact, logistics is the only actual touchpoint between the brand and its customer. In order to scale & sustain growth, onboarding the right technology will prove to be the winning shot for this industry. FarEye is enabling postal to guarantee delightful, branded and personalised customer experiences which in turn will help their customers to drive business growth and ensure brand loyalty. “

Data helps to reach best decisions
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. “

Tommi Kässi, VP parcel e-commerce large domestic customers, Posti felt the same. ”During Covid-19 we’re seeing a 32 percent 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 adaptable and flexible solutions like FarEye.”

“Versatile, configurable, user-friendly, API ready cloud-based solutions are one cornerstone in our ICT and legacy modernization strategy and FarEye fits that bill perfectly” Jonas Hagner, CTO, Posti added.