Xerox Holdings Corporation (Xerox) operates as a workplace technology company.
The company is building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. As customers seek to manage information and document workflows across digital and physical platforms, the company delivers a seamless, secure, and sustainable experience. Whether inventing the copier, the Ethernet, the laser printer, or more, Xerox has long defined the modern work experience an...
Xerox Holdings Corporation (Xerox) operates as a workplace technology company.
The company is building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. As customers seek to manage information and document workflows across digital and physical platforms, the company delivers a seamless, secure, and sustainable experience. Whether inventing the copier, the Ethernet, the laser printer, or more, Xerox has long defined the modern work experience and continues to do so with investments in IT infrastructure, artificial intelligence (AI), augmented reality (AR)-driven service experiences, robotic process automation (RPA), and other technologies that enable Xerox to deliver essential products and services to address the productivity challenges of a hybrid workplace and distributed workforce.
Xerox serves customers globally in North America, Europe, Latin America, Brazil, Eurasia, the Middle East, Africa, and India. This geographic span allows the company to deliver its technology and solutions to customers of all sizes, regardless of complexity or number of customer locations.
Other Strategic Changes
This past year, the company expanded its forward flow program to Canada by signing an agreement to sell future finance receivable originations in the Canadian market to De Lage Landen Financial Services Canada Inc. (DLL). The company transitioned its direct to end-customer operations in Latin America and parts of Europe to partner-led models and continued to reduce its presence in certain markets with low levels of profitability, such as paper, the manufacturing off certain High-End production equipment, and non-strategic IT hardware sales.
The company maintains a broad M&A pipeline that includes targets within the print industry and adjacent markets. In 2024, the company closed the acquisition of ITsavvy. The company also announced the pending acquisition of Lexmark.
Strategic Priorities
The company’s strategic priorities for 2025 are: execute reinvention and realize the benefits of recent acquisitions.
Segments and Geographic Sales Channels
During 2024, the company had two operating and reportable segments – Print and Other and Xerox Financial Services (XFS).
Print and Other – This segment engages in the design, development and sale of document systems, solutions, and services, as well as associated technology offerings, including IT and software products and services.
XFS – This segment engages in a financing solutions business for direct channel customer purchases of Xerox equipment and solutions, and lease financing to end-user customers who purchase Xerox equipment and solutions.
The company also employs a matrix organization that includes a product and geographic focus based on alignment with the economic buyers of the company’s products and services.
Revenues
The company has a broad and diverse base of customers by both geography and industry, ranging from small and mid-sized clients to printing production companies, governmental entities, educational institutions and Fortune 1000 corporations. The company’s business does not depend upon a single customer, or a few customers. The company’s business spans four primary offering areas: Workplace Solutions, Production Solutions, Xerox Services, and XFS.
Workplace Solutions is made up of two strategic product groups, Entry and Mid-Range, much of which share common solutions, apps and ConnectKey software. Workplace Solutions revenues include the sale of products (captured primarily as equipment sales) as well as software, supplies and the associated technical service and financing of those products through XFS (captured as post sale revenue).
Entry comprises A4 desktop monochrome and color printers and multifunction printers (MFPs) ranging from small/home office devices to office workgroup devices. The company offers its ConnectKey system of digital workflow and applications across a large portion of these devices.
Mid-Range are A3 devices that have more features and can handle higher print volumes and larger paper sizes than entry devices. The company is a leader in this area of the market and offers a wide range of MFPs, digital printing presses and light production devices, as well as solutions that deliver flexibility and advanced features.
Production Solutions (High-End) are designed for customers in the graphic communications, in-plant and production print environments with high-volume printing requirements. The company’s broad portfolio of presses and solutions provides black-and-white and full-color, as well as on-demand printing of a wide range of applications. The company’s xerographic and ink jet presses provide high-speed, high-volume cut-sheet printing, ideal for publishing, and transactional printing, including variable data for personalized content and one-to-one marketing, to the highest quality of color and embellishment requirements. The company’s portfolio spans a variety of print speeds, image quality, feeding, finishing and media options. Production Solutions revenues include the sale of products (captured primarily in equipment sales) as well as, software, supplies and the associated technical service and financing of those products (captured as post sale revenue). FreeFlow is a portfolio of software offerings that brings intelligent workflow automation and integration to the processing of high-end print jobs, including automated file preparation with visibility of press health, utilization, and Overall Equipment Effectiveness (OEE), and solutions that help customers of all sizes address a wide range of business opportunities, including personalization and electronic publishing.
Xerox Services includes a continuum of solutions and services that helps the company’s customers optimize their physical print and digital information infrastructures, apply automation and simplification to maximize productivity, and ensure the highest levels of security. Xerox has the capability to support integration and document security on a global scale, which are critical factors for large enterprises. The company’s primary offerings in this area are Xerox Managed Print Services (MPS), Xerox IT Solutions, Xerox Capture & Content Services (CCS) and Xerox Customer Engagement Services (CES). CCS and CES encompass a range of Digital Services that leverage its software capabilities in Workflow Automation, Personalization and Communication Software, Content Management Solutions, and Digitization Services. The pandemic shifted the company’s customers’ focus toward secure, efficient, and flexible solutions to operate in a hybrid work environment. As a result, the company enhanced its focus on the development and promotion of offerings to help its customers accelerate their digital transformations.
Managed Print Services (MPS) utilizes the company’s portfolio of security, analytics, cloud, digitization, and ConnectKey technologies to help companies optimize their print infrastructure, secure their print environment, and automate related business processes. The company provides the most comprehensive portfolio of MPS services in the industry and are recognized as an industry leader by major analyst firms, including IDC and Quocirca. The company’s MPS offering targets clients ranging from global enterprises to governmental entities and small and mid-sized businesses, including those served through its channel partners. This portfolio includes a suite of services to help clients manage hybrid workforces, including cost effective and secure printing devices along with apps and software tools that enable work from anywhere, cloud server-enabled fleet management, security and automation software and remote customer support. Xerox Workflow Central extends the document workflow solutions available through the company’s ConnectKey technologies to all devices, including PCs and smartphones, for easier access to workflow solutions in hybrid workplace environments. Xerox Digital Hub and Cloud Print services allows customers to submit print jobs from anywhere and leverage its Web2Print portal with on and off-site printing networks to meet their printing or marketing collateral needs on demand.
IT Solutions, which includes the recently acquired ITsavvy business, provides clients of all sizes integrated IT infrastructure solutions, delivering business outcomes through its suite of Lifecycle, Deployment and Managed Services. The IT Solutions business leverages an extensive partner ecosystem to design, develop, and deliver comprehensive Cloud & Hosting, Network & Security, Collaboration, and Hybrid Workplace solutions.
Capture & Content Services (CCS) automates the extraction and integration of unstructured data, enhancing business efficiency. Using AI, RPA, and machine learning, the company classifies, extracts, and processes critical data from physical and digital documents. The company’s secure, cloud-based platform streamlines operations and ensures compliance across key business functions. By transforming document-first workflows into data-driven processes, the company helps organizations unlock actionable insights and improve decision-making.
Customer Engagement Services (CES) enables the integration of Xerox technology, software, and services to securely design and manage the company’s clients’ personalization and customization of targeted communications. The company’s Customer Communications Management and Campaigns on Demand solutions, such as those provided through its acquisition of Go Inspire, help drive personalized and meaningful communications and touchpoints.
XFS is a global financing solutions business and offers lease financing for direct channel customer purchases of Xerox equipment and solutions through bundled lease agreements and lease financing to end-user customers who purchase Xerox equipment and solutions through its indirect channels.
In addition to the company’s four primary offerings areas described above, a small portion of its revenues comes from non-core streams, including paper sales in its developing market countries and standalone software such as CareAR, DocuShare, and XMPie.
Geographic Information
Overall, approximately 45% of the company’s revenue is generated by customers outside the U.S.
Patents, Trademarks and Licenses
In 2024, Xerox and its subsidiaries were awarded 244 U.S. utility and design patents. As of December 31, 2024, Xerox held 5,676 U.S. utility and design patents. These patents expire at various dates up to 20 years or more from their original filing dates.
In the U.S., the company owns 155 trademarks, either registered or applied for.
Marketing and Distribution
The company goes to market with a client-centric, market-informed, and services-led approach, selling workplace products and solutions that support the new hybrid workplace and distributed workforce. The company services its clients through its direct sales force or indirectly through distributors, independent agents, dealers, value-added resellers, systems integrators, and e-commerce marketplaces. In addition, the company continues to focus on broadening its footprint to sell offerings to the small and mid-sized markets primarily in the U.S., the U.K., and Canada through Xerox Business Solutions (XBS), which is consisted of regional core companies that provide office technology and services. The company’s IT Solutions business provides IT infrastructure solutions to clients of all sizes in the U.S., Canada, and Western Europe.
The company is structured to serve its clients globally through its business-unit led operating model and organizational structure which covers direct and indirect routes to market in the Americas (comprises the U.S., Canada, and Latin America) and EMEA (comprises Europe, the Middle East, Africa, and India). The company has an industry leading and common global delivery model that provides a consistent client experience worldwide.
Competition
The larger competitors in the company’s print business include Canon, FUJIFILM Business Innovations Corp., HP Inc., Konica Minolta, and Ricoh.
Customer Financing (XFS)
The company finances a large portion of its direct channel customer purchases of Xerox equipment through bundled lease agreements. The company also provides lease financing to end-user customers who purchase Xerox equipment and solutions through its indirect channels.
Manufacturing and Supply
The company’s manufacturing and distribution facilities are located around the world. The company’s largest manufacturing site is in Webster, N.Y., where it produces key components and consumables for its products, such as toner. The company has manufacturing operations for materials and components in Dundalk, Ireland; Wilsonville, OR; and Oklahoma City, OK. The company conducts sustainable manufacturing in all of these facilities. In addition, the company works with various manufacturing and distribution partners.
FUJIFILM Business Innovation Corp. (formerly Fuji Xerox Co., Ltd.) and Lexmark are the company’s largest partners with whom it maintains product sourcing agreements for specific products primarily across its entry, mid-range and high-end portfolios. The company also acquires products from various third parties to increase the breadth of its product portfolio and meet channel requirements. In addition, the company outsources certain specialized manufacturing activities to partners, such as Flex Ltd. and Jabil Inc., which are global contract manufacturers with whom the company has long-standing relationships.
The company’s supply chain operations utilize a network of world-class logistics partners who offer warehousing and transportation services. Reverse Logistics is an integral part of its sustainability mission, and in the U.S. the company performs these operations at its facility in Cincinnati, OH, and globally with a network of various partners.
In 2024, the company renewed its multi-year contracts with Fujifilm Business Innovation Corp. This agreement secures the company’s ongoing access to the latest advancements in print engine technology and related supplies, reinforcing Xerox’s commitment to delivering differentiated solutions to the company’s clients and partners.
Research, Development and Engineering
The company's research, development and engineering costs were $191 million for the year ended December 31, 2024.
Regulatory
The company is subject to similar laws related to data protection in other jurisdictions, such as the Personal Information Protection and Electronic Documents Act (PIPEDA) in Canada, and the General Data Protection Law (LGDP) in Brazil.
History
The company was founded in 1903. The company was incorporated in 2019. The company was formerly known as Xerox Corporation and changed its name to Xerox Holdings Corporation in August 2019.
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