2GO Group, Inc. said on Monday that it is hoping to cut business costs and improve operational efficiency by investing more in technology.
“These investments are part of the corporation’s strategy to rapidly modernize its capabilities to improve operational efficiency, reduce business costs, better meet the needs of its customers and improve overall customer experience,” 2GO told the stock exchange, referring to its P150-million investment in digitalization and automation.
In an e-mailed statement, the company said its subsidiary 2GO Express, Inc. has invested in new technology that boosts efficiency, speeds up processing times, and makes it possible to increase reliability while scaling up.
“Investments in automated sorting machines in its hub facilities will now facilitate the processing of more than 140,000 parcels a day, thereby granting the faster delivery of parcels to consumers,” 2GO noted.
2GO Express also uses a new technology that allows customers to track their shipments in real time to support their planning and consumption.
The group trimmed its attributable net loss for the first half of the year to P599.8 million from a loss of P730.5 million in the same period a year earlier.
First-half revenues fell 14.3% to P7.8 billion from P9.1 billion in the previous year.
2GO attributed its net loss for the first six months to “the continued slowdown in the economy brought about by the… pandemic.”
2GO shares closed 1.85% higher at P8.26 apiece on Monday. — Arjay L. Balinbin