Singapore Post Tops Study

Singapore Post (SingPost) emerged as the top postal agency in the world, according to a study by global management consulting company Accenture.

It heads the list in the study “Achieving High Performance in the Postal Industry: Accenture Research and Insights 2013″, which covered postal agencies in 24 countries.

United Parcel Service (UPS) takes the second spot on the list, followed by Austria Post, Poste Italiane (Italy), Australia Post and FedEx (USA).

SingPost successfully diversified, with profitable new businesses that are vastly different from its traditional business to increase revenues. It launched new products, expanded its financial services offerings, and took advantage of maturing eCommerce trends, according to the study.

At a time when the majority of the world’s postal agencies are facing decline in global mail volume and rising employee pension costs, SingPost is thriving, Accenture said.

SingPost have also acquired portions of logistics companies to take advantage of cross-border delivery and found a way to provide a viable digital mail service, it added.