Powering the transformation of the postal industry

Over the last few years, the postal industry has seen a decrease in its significance due to technological innovations. Can finance transformation help the industry recover?

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In the current business landscape, the postal industry has lost its prominence owing to advancements in communication and logistics technology. What is interesting is that the very same technology can help the industry recover and make it a significant player in the modern business environment.

Until the advent of the internet, the postal industry was a major part of how people communicated with each other. The industry, in many ways, was the driving force of the hyper-connected world we live in today.

In addition to aiding communication, the industry also played, and still plays, a significant role in delivering goods to the right place at the right time—a function that has become a crucial part of the modern eCommerce boom.

Despite its earlier significance, however, the industry now faces an urgent need to overhaul how it operates to confront the challenges brought forth by the digital revolution across the business landscape.

With many businesses going green and eliminating the use of paper-based communication to align their processes with the demands of the Fourth Industrial Revolution, it is, perhaps, time for the postal industry to embrace disruptive change.

Postal companies need to embrace new technologies to survive and succeed in Industry 4.0.

This requires postal companies to optimise their core business functions to identify new and improved ways to render postal services. In this regard, the best way forward may be to adopt postal automation and other advanced solutions to sustain and diversify postal services.

The success of the technological transformation of the postal industry, however, will depend on how postal companies leverage their finance function.

Powering technology adoption through finance transformation

When considering the digital transformation of the postal industry, it is critical to note that the industry has largely relied on analogue processes in the past.

While certain technological solutions are involved in core functions, the majority of the workflows depend on dated techniques and tools that do not meet the requirements of the modern business environment.

As a result, these workflows are inadequate at powering novel strategies that help companies embrace digital transformation.

What this means is that postal companies need to rethink how they conduct their operations and incorporate advanced tools to streamline and automate administrative processes while enhancing their value-addition capabilities.

To pull off this fundamental reimagination of core processes, postal companies need a strong framework that helps them optimise their functions to prioritise the allocation of resources to acquire and deploy the latest technologies like postal automation, and optimise their existing workflows to be more agile and future-focused.

At Kronos Group, that is our forte.

Through our data-backed finance, procurement, and project management consulting services, we power the formulation of effective optimisation strategies that allow postal companies to leverage service diversification, streamline their service delivery by unifying similar operations, and embrace the new opportunities presented by the digitisation of the economy.

Overcoming contemporary challenges by embracing digital transformation

Today, the digital transformation of the postal industry trickles down to how well companies identify contemporary challenges and respond by adopting Finance 4.0 and Procurement 4.0 strategies to optimise their workflows and processes.

Unfortunately, reimagining how to operate can be stressful at the best of times and can exert significant pressure on the finite resources available to most companies. Any misstep can lead to major disruptions across daily operations.

That is why enlisting the support of industry professionals such as Kronos Group via finance advisory services can help companies create action plans that support the transformation of core business functions.

As finance consultants to leading postal companies, we have helped create and implement strategies that foster:

Two million euros worth of savings on a four months timeline

Global training programmes delivered over six months

A-Z transformation over just five months

Timeless support of a specialised team for lasting value delivery

We support you through your digital transformation

Kronos Group’s team of professionals are experienced in working with some of the leading organisations in the postal industry to power transformation across core business functions.

Our pragmatic approach to guiding you through your transformation is powered by our range of specialised services including:

Swift maturity
assessments

Cost
optimisation

A spend management platform

Digital
transformation

Outsourcing services

Training programmes

Functional transformation

Speak to us!

We support our clients with their strategic growth by leveraging our extensive knowledge and evaluating your business perspective with cutting-edge solutions that address current and future challenges.

Benefit from our dedicated consultants’ skills in the fields of procurement, finance, and project management by getting in touch with us today.