July 10th, 2012
By, Rich Dobbs, senior managing director for Finance & Accounting, Xerox’s Financial Services Group
It’s always an honor to learn we’ve been placed by Gartner, Inc. in the Leaders Quadrant of the Magic Quadrant for Comprehensive Finance and Accounting Business Process Outsourcing. This year’s recognition is especially magical because the criteria we were evaluated on – ability to execute and completeness of vision – were largely powered by a dream we share with our customers.
Over the past year, we have been holding “dreaming sessions” with our clients, which are designed to facilitate out of the box thinking which we can then apply to our clients biggest pain points. The Dream Session methodology is an opportunity to identify potential gaps and unmet needs in the marketplace.
In these sessions we are focused entirely on our client’s challenges and collectively dream up the solutions that could mitigate these pain points, but don’t currently exist in the marketplace. If nothing else, this exercise ensures that we are always focused on what matters most to our clients. Execution means nothing if we aren’t executing against the right things and for us that means the issues that are making it difficult for our clients to focus on their core business.
However the true power of these dreams doesn’t end with the client involved in the session. We take the insights we learn to inform our larger vision and approach to the broader marketplace. This means that our solutions are always growing and evolving to the market need. For example we now include document management technologies in our offerings and also strengthened our end-to-end F&A capabilities through new services that enable technology and business analytics.
In an environment where consumers expect access to information right when they need it and customized to their particular preferences, there is no shortage of opportunities to help financial services companies meet this new consumer demand. This is why we will continue to dream with our clients to ensure we keep bringing the magic with our intellectual, scientific and customer care expertise.
Rich Dobbs leads Xerox’s Finance & Accounting business, which includes a global staff of more than 4,500 finance, accounting and procurement professionals. Xerox’s Finance & Accounting organization delivers comprehensive finance, accounting and procurement-related services from more than 14 delivery centers located around the world.
October 5th, 2011
By Kent Schnacker, group president, ACS Financial Services
As part of Xerox and ACS’ growth strategy, we’re rounding out our financial services offering with the acquisition of Symcor US – one of North America’s largest providers of financial processing services. Building on our breadth of existing services, the acquisition perfectly accents our current financial services suite.
By incorporating Symcor US’ check and payment processing services into our current suite of services, this acquisition allows us to help financial institutions adjust to the changing payment landscape and ease the transition from checks to their digital counterparts. Quite simply, it puts ACS in a position to help our customers run their businesses more efficiently and cost-effectively.
But you may be asking yourself: “Why are we making this investment at a time when people are writing fewer checks?”
It’s quite timely, in fact. According to the Federal Reserve Payment Study 2010, about 24.5 billion checks were processed in 2009. While transactions are definitely trending towards the electronic variety, there are still tons of paper checks in circulation that remain an institution among individuals and businesses. So why not set ourselves up at ACS to handle all types of payments for our customers?
While ACS already offers a plethora of solutions to our financial services customers – including document management systems and mortgage, credit card, and student loan services – the addition of Symcor US’ financial processing prowess allows us to provide an even wider-range of services to banks and other financial institutions while adding significant value to our offering.
It’s a well-trodden expression: “The whole is often greater than the sum of its parts.” By adding Symcor US’ proficiencies in transaction processing, we’re now even more well-equipped to keep banks and financial institutions focused on their core competencies in order to achieve their business goals. These sorts of acquisitions are high-priority for Xerox and ACS.
January 31st, 2011
– By David Smith, vice president, DocuShare Business Unit, Xerox Corporation
This may be a biased opinion, but I believe Xerox’s recent acquisition of WaterWare Internet Services’ assets could be important to your business. Why? Well, if you’re looking for ways to control costs, improve productivity and keep your workforce connected – and want to reduce the amount of paper in your business operations – then it matters.
According to a recent study from AIIM, 53 percent of companies surveyed hope to decrease their paper consumption further with document scanning and capture operations.
Enterprise content management (ECM) – a formal way of organizing and storing your company’s documents and other content that relates to your internal processes – has played a big role in this revolution.
For Xerox, the increasing popularity of paperless business processes is exciting since our ECM platform, Xerox DocuShare, gives businesses a 24/7 way to reduce paper and manage, share and control documents – freeing employees to concentrate on the important business at hand.
WaterWare – a software development and consulting services – has solutions that matter in today’s business environment, including electronic health records capture and management, case management and pharmacy order automation.
And now, they are part of the DocuShare team – expanding our professional services offering in terms of deployment, system integration and customized tools that drive business results.
So, while this isn’t a mega-merger, for those on the front line looking for ways to cut down on paper while improving how information is shared throughout the organization – this is big news – and we’re proud of it!
September 13th, 2010
Xerox on Barron’s Cover This Week
– Submitted by Carl Langsenkamp, vice president, global public relations
Over the weekend, Barron’s published a cover story: Xerox Delivers. If you’re a Xerox believer then much of the story may not come as a surprise. But if the products, services and technology from Xerox is not part of your daily dose of news, then the Barron’s story may really help you get your head around how much we’ve changed over the past few years — and how that change was amped up significantly by the acquisition of ACS in February. I’ve noted a few highlights from Robin Goldwyn Blumenthal’s Barron’s cover story:
Thanks in part to the better profit margins of service businesses, Xerox has reported steady increases in earnings, repeatedly exceeding Wall Street’s expectations. Despite the recession, free cash flow jumped to $1.5 billion last year from $1.2 billion in 2008.
The story goes on to discuss about how Xerox is positioned for growth:
Burns is confident that the recent marriage of what Xerox now refers to as its document-technology business—consisting of traditional printers and copiers, “multifunction” printer, copier, scanner and fax machines, and graphic-communications printing and document outsourcing—with its services business, will help the company achieve 10% to 15% growth in earnings in the near future. If the second quarter—the first one with ACS in the fold—is any indication, the combination is already a winner. Earnings were up 50%, to 24 cents a share, handily beating Wall Street’s estimate of 21 cents.
And how the current economic climate is ripe for companies to partner with Xerox:
As for concerns that companies or governments will cut back in a sputtering economy, Burns contends that the kinds of processes and solutions Xerox offers can be big money savers, for business and government alike. In its new configuration, Xerox now derives about 25% of its revenue from state and local governments. But Burns points out that in addition to providing money-saving processes, many of the services Xerox provides to government are essential.
Along with these points, the story shares analyst reviews of Xerox’s potential, its stock price and P/E ratio, among other metrics and insights. I’ve noted only a small piece of the full story. When you have a chance, please read through it and let’s continue the conversation here.
– Carl Langsenkamp, vice president, global public relations
May 25th, 2010
-- Submitted by: Rohail Khan, executive managing director, Total Benefits Outsourcing, ACS, A Xerox Company
ACS, A Xerox Company, is helping organizations keep the cost of employee benefits in check. ACS is acquiring ExcellerateHRO (EHRO), a full-service human resources outsourcing company, which will enable ACS to offer more options to manage employee benefits.
The ACS acquisition of EHRO will keep costs low for existing clients and prospects. Additional services and access to innovation will give organizations increased flexibility in the way they administer employee benefits such as retirement plans, health insurance and flexible spending accounts.
With this acquisition, ACS becomes one of the world’s largest pension administrators and providers of outsourced health & welfare and relocation services. More than 5.5 million employees and retirees in more than 80 countries worldwide already look to ACS to administer their benefits.
ACS is poised to re-invent what’s possible in HR service delivery. Our added size and combined expertise will generate greater efficiencies, more complete end-to-end service solutions and a superior employee service.
No other provider will be able to match the depth and breadth of our service, expertise and significant investments in innovation that will continue to raise the bar. Xerox invests nearly $1 billion in innovation each year. With this acquisition, and with our other lines of business, we have additional venues to put that innovation to work. That opens the door to incredible new products and services that directly benefit our clients.
– Rohail Khan, executive managing director, Total Benefits Outsourcing, ACS, A Xerox Company
May 7th, 2010
May 6th, 2010