Business World

2GO aims to cut business costs, improve efficiency

- — Arjay L. Balinbin

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.

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