Going digital means evolving to better satisfy market needs. Source: Shutterstock

Going digital means evolving to better satisfy market needs. Source: Shutterstock

Pos Malaysia believes that going digital is a key business strategy

TRANSFORMATION stories are always exciting as they mark a momentous and pivotal moment for traditional businesses that see the need to embrace digital disruptions and be more aligned with new-age advances.

Pos Malaysia, a postal delivery service that has been operating since the 1800s, has announced plans to reinvent itself for the digital era and committed to revolutionizing and innovating operational processes.

“Digitalisation is the way forward for Pos Malaysia to transform the existing postal system,” said CEO Syed Md Najib Syed Md Noor.

The company aims to be more efficient, cost-effective, and relevant in order to future-proof its business by adopting digital solutions and automating relevant processes, enabling it to expand its courier capabilities.

Pos Malaysia has already started the move by launching its track-and-trace system to increase service quality. Additionally, a soft-launch of its cashless payment capabilities via selected Pos Automated Machines allows for bills to be paid using several e-wallet services.

Not to mention, the company also has plans to deploy online data analytics capabilities in the next two years.

An estimate of US$72.8 million has been allocated to support other transformation projects and digitalize its core systems which are expected to be up and running by the middle of this year.

Noor added, “[the transformation] necessitates business adaptability to remain relevant in the industry as the world is moving towards Industrial Revolution 4.0.”

Of course, the move would also allow the company to boost revenues and maximize the yield from its existing infrastructure.

The CEO also elaborated on the need to foster greater operational growth to catch up and bank on the booming e-commerce sector.

CIMB Group Group Wholesale Banking CEO Shahnaz Jammal voiced his support by saying, “E-commerce is set to boost the Malaysian digital economy further and Pos Malaysia will be key, to ensure a fast-paced and seamless web-based retail ecosystem.”

Clearly, embarking on a digital transformation is an instrumental step in securing and seizing new market opportunities.

Pos Malaysia CEO is confident that the company’s transformation plans will be a success.

In a statement, he said, “We see the unprecedented opportunities brought upon by the changing landscape and the untapped potential in the strength of our people, as well as our wide network reach, which we will use to transform the postal service of Malaysia and emerge to be more competitive than ever.”

Following this development, the company has also announced an increase in its commercial postal rates but stressed that the new prices will not affect individual mail users.

Nevertheless, the dynamic shifts promoted by this legacy courier company will trigger greater digital initiatives by competing brands.