Escher Acquires Syslore to Help Posts Reduce Parcel Processing and Sortation Costs
BOSTON, US - SEPTEMBER 2, 2021
Escher, the global leader transforming postal operators and couriers, today announced the acquisition of Helsinki-based Syslore to bring a collection of proven, AI-powered services to post and parcel carriers everywhere. With today’s announcement, postal operators can utilize:
A powerful, machine-learning-based OCR engine to increase mail and parcel automation: Artificial intelligence-powered Optical Character Recognition (OCR) and matching logic minimizes the manual processing of packets and parcels, without the need to replace existing sorting or scanning infrastructure. By applying this one-of-a-kind AI-based solution to packets and parcels, Posts can minimize manual sortation and realize a significant return on investment.
A platform to digitalize the collection of customs, duties, and taxes (CDT) and customer contact data to lower the cost of cross-border compliance: By capturing data off CN22 and CN23 forms while the parcel moves through the distribution network, Posts can eliminate keying operations required to comply with customs requirements. In addition, the OCR scanned parcel images and contact data can be used to contact the recipient to collect the VAT and duties, etc. prior to the parcel arriving at the delivery unit, thereby reducing delivery costs and speeding delivery times.
Mail and parcel sort-to-light solutions to increase the speed and reduce the cost of manual sorting: mSorter technology utilizes the AI-powered OCR and matching logic to enable sort-to-light solutions for both mail and parcels. By eliminating the need for scheme training while enhancing the speed and efficiency of manual sorting, the mSorter enables post and parcel organizations to reduce costs and increase delivery efficiency.
AI-powered, web-based Video Coding System to reduce the cost to resolve sorting exceptions: An AI-powered, web-based Video Coding System for all types of mail items which includes groundbreaking deep-learning-based innovations and associated streamlined processes to power unmatched performance improvements. The VCS pre-populates keystrokes and anticipates image position (ie rotation, magnification) to reduce time and effort to resolve images the OCR can’t.
Reducing operating costs and improving efficiency are critical to post and parcel organizations across the globe. With parcel volumes set to double over the next five years, automation efficiency has never been more important.
“Taking advantage of e-commerce driven parcel revenue while managing the associated costs is a constant challenge,” said Brody Buhler, CEO, Escher Group. “That is why we are so excited to welcome Syslore to Escher Group. Their differentiated solutions reduce manual sorting of parcels and mail and, where still required, make manual sorting faster and more efficient. This is the next step in our continued effort to empower Posts to harness e-commerce growth and deliver omnichannel experiences from the first to the last mile.”
“We are thrilled to join Escher Group,” said Henri Tykkä, Syslore CEO, who will join Escher with the acquisition. “Leveraging our joint expertise to scale solutions like packet scanning, route-ready sorting, and customs, duty and tax (CDT) digitization, will help ensure that all communities have convenient access to cost-effective cross-border packet and parcel services.”
Product Availability
For more information on these services, existing Escher customers should contact their account manager. For any postal operator or courier that is not a customer, contact us for more information.
About Escher
Escher powers the world’s first and last-mile deliveries, helping Posts connect nearly 1 billion consumers with global e-commerce networks. Postal operators rely on Escher to deliver enhanced retail and digital customer experience, to activate new revenue streams, and to realize new delivery economics.
The company’s award-winning customer engagement platform, Riposte, and Escher’s full-service support help Posts become next-generation enablers of e-commerce. First and last-mile delivery becomes streamlined, efficient, and profitable and is powered by the most customer-centric, low-cost, retail network imaginable. Posts can also rapidly expand and deepen all points of engagement with ease and in a highly cost-effective way.
For press enquiries please contact:
Maddison Manolis, pr@eschergroup.com
About Hanover Investors
Hanover Investors is a specialist investor that operates in under-analysed and illiquid markets.
We combine analytical rigour and flexibility in execution which allows for a repeatable model of successful investment selection. A deep understanding of a company's operational and strategic context is at the centre of our investment process, refined over decades of hands-on management of small to mid-size organisations. We influence the main levers of value creation of an investment, providing our portfolio with access to proven “playbooks” and a Hanover bench of specialists.
This approach has delivered a market leading record of returns for over 20 years.
For press enquiries please contact:
Investor Relations team: ir@hanoverinv.com