Exela Technologies
OTCPK:XELA
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0,07
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$0,02 (40,00%)
0,07
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+$0,02 (40,00%)
End-of-day quote: 03/25/2026
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Exela Technologies Company Info
EPS Growth 5Y
97,06%
Market Cap
$0,00 B
Long-Term Debt
$1,03 B
Short Interest
14,30%
Quarterly earnings
04/02/2026
Dividend
$0,00
Dividend Yield
0,00%
Founded
2014
Industry
Country
ISIN Number
Website
Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
There are currently no price targets available for this stock.
In the last five quarters, Exela Technologies’s Price Target has risen from $400,00 to $400,00 - a 0,00% increase.
Top growth stocks in the information technology sector (5Y.)
What does Exela Technologies do?
Exela Technologies, Inc. (Exela) is a business process automation leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience.
By connecting data through user friendly software platforms and solutions, the company enables its employees with business process management and help accelerate the company’s customers’ digital transformation. The company has expertise earned from serving many of t...
Exela Technologies, Inc. (Exela) is a business process automation leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience.
By connecting data through user friendly software platforms and solutions, the company enables its employees with business process management and help accelerate the company’s customers’ digital transformation. The company has expertise earned from serving many of the world’s largest enterprises, including over 60% of the Fortune 100 and in many mission critical environments across multiple industries, including banking, healthcare, insurance and manufacturing.
The company’s solutions and services touch multiple elements within a customer’s organization. The company uses a global delivery model and primarily host solutions in the company’s data centers, on the cloud, or directly from the company’s customers’ premises.
The company will continue to expand the company’s solutions and services for the industries the company serve, with a focus on connecting the front, middle and the back office. This positions the company as one of the few companies that can offer solutions and services that span from multi-industry departmental solutions to industry specific solutions.
Solutions and Services
The company is a leading, global provider in the Business Process Management (‘BPM’) industry. The company’s digital foundation has been shaped to deliver outsourced solutions for current and evolving customer needs. Specifically, the company’s seven-layer technology stack enables easier integration to build digital bridges over broken processes. The company derives all its revenue from BPM, including approximately 8.8% of total revenues in 2023 from the company’s digital assets group (‘DAG’).
The company hosts its digital foundation across a hybrid environment, both on-premise and/or on the cloud and the company’s customers are able to choose based on their needs. The company’s customers also take advantage of hybrid deployments leveraging either the company’s or their own environment. The company sells recurring licenses and maintenance to the company’s customers, along with professional services for configuration and system integration services. The company offers multiple options in relation to licensing: customers can purchase a license for a number of transactions, however they usually acquire multi-year term licenses with flexible recurring options, and as part of the company’s DAG offerings, the company also offer per user per month subscriptions. The company plans for a growing portion of its digital foundation to be made available along these pricing and licensing models. The company’s solutions are evolving to contain more self-service features, are easy to deploy, and integrate with existing solutions, including for small and medium sized businesses.
The company’s BPM solutions have expanded to include a suite of Work from Anywhere (‘WFA’) applications to support a remote workforce with enterprise software for connectivity and productivity. The company’s BPM solutions are grouped as follows:
Finance & Accounting Services, including Procure-to-Pay, Order-to-Cash, Record-to-Report, FP&A and Expense Management.
Payment Technologies and Services.
Human Capital Management.
Healthcare Payers and Revenue Cycle Management (RCM).
WFA Solutions.
Enterprise Information Management.
Integrated Communications and Marketing Automation Solutions.
Contact Center Services.
Reaktr.ai Solutions for Cyber security, Data Modernization and Cloud management, and generative AI.
Digital Storefront Solutions for Enterprise Customers.
The company’s multi-industry and departmental BPM suite of offerings combines platform modules for finance and accounting services, enterprise information management, robotic process automation, digital mailroom, business process management and workflow automation, visualization and analytics, contract management and legal management solutions, and integrated communication services which contribute to revenues across the company’s organization and accounting segments and also complement the company’s core industry solutions for banking, insurance, healthcare and the public sector.
Finance and Accounting Solutions (F&A)
Exela offers a suite of finance and accounting (‘F&A’) solutions providing digital roads to connect global commerce. By structuring and linking digital data across disparate customer systems, processes and standards, the company’s exchange for bills and payments (‘XBP’) enables digital transformation savings and modernization to be rapidly implemented utilizing existing customer infrastructure and in-country settlement processes. The company provides process automation and enhanced services addressing the payments lifecycle from procure to pay (‘P2P’) to order to cash (‘O2C’). The company uses its own technology and the company’s global operations to deliver these solutions.
The company’s XBP solution provides a platform with a secure messaging service, allowing billers, consumers and businesses to communicate and transact utilizing a modern technology stack that can be rapidly connected to any system without material investment by the company’s customers. Billers are able to send bills to payers, whether businesses or consumers, electronically, offering transparency and simpler reconciliations. Payers are able to receive their bills in one place, with analytics, alerts and several payment options. With XBP making the bill component of P2P and O2C electronic, downstream processes can be integrated with richer and more actionable data.
The company’s O2C solutions enable consolidation of inbound payment channels and data continuity to drive digital adoption and enhance treasury management, including integrated receivables dashboards, multi-channel bill presentment and payment, reconciliation, exception and dispute management, aging analytics, collections management and targeted engagements. The full process includes fulfillment of a customer order, raising an invoice in accordance with customer contracts, accounts receivable management and collections.
The company’s P2P services can be integrated with the company’s digital mail room technology, which expands the company’s ability to support existing data types and formats. In effect, both digital and analog items can enter this information stream. The process begins by opening a requisition, and once approved it moves to procurement to solicit bids from an approved supplier network. Supporting the company’s customers by making available the company’s supplier network can be a key differentiator in enabling a complete P2P solution. The company’s P2P platform also records receipt of goods and invoices and performs three way matching digitally. Exceptions are processed by the company’s employees, and once approved, the company records the purchase in a customer’s ERP system, so it can be paid. The company then uses its system to generate and deliver a payment file in the format the bank needs so that a payment can be processed. Some of the company’s customers also authorize the company to process the payment on their behalf.
The company’s Record-to-Report (R2R) services include spend analytics and data mining tools for financial planning and analysis to support reporting and audit functions, interchanges and robotics providing automation of ERP entries and regulatory reporting and fixed asset management.
Enterprise Information Management (EIM)
Exela’s enterprise information management (‘EIM’) solutions ingest and organize large amounts of data and store the information in cloud enabled proprietary platforms. The company also gathers transactional data from enterprise systems for similar hosting. The collected, extracted data is used to complete a process, and is then made available to the company’s customers and their end-consumers for an agreed upon period. The company derives revenue for such services, hosting and access.
The company’s EIM systems host billions of often mission critical records for the company’s customers and the total number continues to rise. As an example of a large deployment of the company’s EIM platform, the company helped enable online records access to over 63 million end-customers of a group of European savings banks for deposits, statements, and car and personal loans and mortgages. Another example of EIM deployment is in the hosting of images of healthcare records, checks and payroll taxes for many years for retrieval, compliance and internal information purposes.
The company’s platforms simplify integration with customers’ existing EIM systems, and the company’s customers can benefit from being able to conduct federated searches across connected datasets, manage records in accordance with their needs and regulatory requirements, build live customer and employee profiles, and facilitate release of information and routing with control over security and permissions. The company also provides business intelligence add-ons, offering summarization of data sets, dashboards and trend monitoring, relationship visualization, macro and micro drill-downs, escalation triggers and notifications.
Exela Robotic Process Automation
Exela has been at the forefront of using robotic process automation since 2009. The company’s deployment model is to use desktop automation first, and if the usage is very high, the company usually migrates to server level automation. The company has built a large library of rules by industry and by customer. The company’s domain experts and analysts can use an existing bot, modify one or create new ones using the company’s design studio. The company’s robotic solutions are available as programmable robots with a rules library for a specific industry or feature, or as an enterprise license or on a per user per month basis.
Digital Mailroom Solutions
Exela is one of the leading global providers of digital mailroom (‘DMR’) solutions. The company’s DMR solutions rely on proprietary technology, use the company’s own or a customer’s facilities, and process a significant number of transactions daily. The company’s end-to-end DMR solution features ingestion from many sources – paper, fax, email and other digital data. The company also offers recorded voice, image and video ingestion channels. This solution can be complemented with the company’s shipping and receiving services with digital receipt, delivery and routing to the company’s intelligent lockers. The company’s DMR SMB offering is experiencing rapid adoption, across geographies, and is serving as a catalyst for the company to expand the features of DMR with additional proprietary platforms.
The company owns and deploys several classification engines for information processing, including unattended digital repositories, for example unattended email boxes that identify content and route it to the appropriate member of an organization. Exela offers DMR for enterprise wide deployment to captive mailrooms of the company’s customers, mailrooms outsourced to both Exela and others, and for business locations where there is no dedicated mail room, such as a front desk. The company’s customers can see their information across the enterprise from a single platform. The company’s DMR solutions are available as SaaS, BpaaS or enterprise licenses and the company often handles the entire mail operation for a customer.
Business Process Management and Intelligent Workflow Automation
Exela has built extensive proprietary workflow automation platforms for business process management across several industries and regions. The company’s platforms are designed to have intuitive user interfaces with drag & drop configuration enabling a certain amount of customization. The company’s platforms use its EIM engines by default, are designed to integrate with popular database and enterprise systems, and are offered across three user categories:
Enterprise class, hosted on premises. Suitable for 10,000 or more users and 10,000 or more tasks or process automations. Over 10,000 of the company’s employees use this every day to perform mission critical work for the company’s customers in the Americas, EMEA and Asia.
Interdepartmental class workflow automation is ideal to bring structure and collaboration across departments. Over 2,500 of the company’s employees globally use this platform to collaborate with each other and their individual work management. The platform is designed to integrate with other industry leading platforms to create a comprehensive collaborative experience.
Case-management workflow automation platform available as a shrink wrap version for building custom workflows. One can use the company’s library of workflows, customize them or build one from scratch for purposes of case management only. Customers can buy enterprise licenses of this platform, or on a SaaS basis and build their own workflows.
Exela provides visualization and analytics capabilities within its platforms to provide actionable intelligence tied to collaboration and task management. Configurable dashboards enable users to quickly consolidate and organize disparate data sources through intuitive interfaces. Users can also build their own dashboards with dynamic drilldown options and alerts, link data to managers, and launch action items in pursuit of optimization and issue resolution. By providing analytics tied to actionable tasks, the company can help drive optimization to enhance profitability and connectivity. For example, users can create visualization of volume trends and set triggers upon statistical thresholds, sending SMS alerts to managers to adjust their downstream capacity planning, if trends are not in line with set thresholds.
The company offers reporting and analytics on the scope of work processed through operations, and the company also provides its customers the capability to consolidate various data streams into comprehensive dashboards to enhance business intelligence, including providing real-time visibility to revenue, cost, profitability and cash flow as well as process monitoring, KPI tracking, and actionable alerts.
Providing analytics modules complement the company’s services and solutions, creating a superior user experience, and reducing the need for other third-party tools by centralizing business management in Exela’s platforms. By enabling users to share dashboards across their organization, additional users will adopt Exela platforms and increase the company’s penetration into the front-end applications across an enterprise.
Enterprise Legal Management
Exela provides a contract management system to streamline execution, organization, and data management of large volumes of contracts. The company utilizes natural language processing and machine learning to extract key terms within unstructured formats and complex content, providing variance analysis, summary tables, and automated organization. Users can easily find important data points in contracts, and quickly analyze large volumes of language variations across format types. The extracted data can then be used to connect to existing systems and ERPs and serve as inputs to business operations, such as accounting and billing processes, financial planning and analysis, and regulatory reporting, enabling real-time audit and automated alerts for deviations from contract parameters. By automating key term extraction, the company’s contract management system enables large volumes of contracts to be analyzed quickly and enables processes such as billing or automatic reminders for significant dates. Exela’s ability to provide high accuracy transactional operations with automated validations creates a competitive advantage against those relying on manual processes and discrete sampling.
Exela can also provide a digital signature system to streamline collaboration, approvals and execution of contracts. The company deploys a secure, hosted environment to request and execute signatures and exchange contracts and documents across individuals or groups. The company’s platform, Drysign, enables multiple signature execution with routing through approval hierarchies, while providing transparency to the status and tracking of comments and edits. Upon execution, documents are stored electronically for secure archiving and retrieval. As part of the company’s expanded focus on WFA, the company launched Drysign to the SMB and individual user market in 2020, initially in the Americas, but since then also expanding into the UK, India and Philippines, and into France and Germany in the spring of 2022. Drysign is offered through a dynamic pricing model, including freemium for low volume users, various SMB plans and also on a per user per month for enterprises. Adoption rate for Drysign since launch has been steady, quarter over quarter.
Furthermore, Exela offers a suite of enterprise legal management solutions and services that streamline and automate legal department processes to rationalize costs and drive productivity. Solutions and services range from preventative remediation, identifying risks such as overcharges, discrimination, and data breaches and proactively providing restitution, eDiscovery, word processing and contract management using automated summarization and metadata extraction along with cognitive search enabled by natural language processing; and records management.
Integrated Communications and Marketing Automation Solutions
Exela’s comprehensive multi-channel integrated communications solutions help customers communicate with other businesses or customers. This suite of solutions links through many channels, for example, email, print and mail, SMS, web, voice, and chat. Exela solutions and services can also include design and marketing and selection of optimal engagement and least cost routing for mission critical communications for example, bills, statements, enrollments, customer support, targeted marketing, mass notifications, reprographics, and regulatory notices.
The company also works with its customers as a digital migration partner to improve user experience while helping to reduce and even eliminate inefficient, wasteful communications. The company uses proprietary discovery techniques and analytics in addition to service specific technology to propose optimal channel and content. The company’s employees can also generate personalized messages, customized promotions, incentives, escalations, and resolutions.
Exela Smart Office
In the second half of 2019, the company launched a group of solutions that complement its existing offerings, labeled Exela Smart Office? (‘Smart Office’). Smart Office seeks to improve employee and visitor experiences while optimizing facility management efficiency thereby contributing towards corporate sustainability standards. Smart Office is the company’s enterprise IoT, which helps transform the front-office, energy and facilities management, logistics and fulfillment for the company’s customers, and provides on-demand services with connected devices to facilitate green initiatives, and reduce waste. For example, the company’s space management software uses sensors to detect facility utilization, which enables optimized space and energy usage and provides mobile workers directions to available work spaces, while the company’s Contactless Entry and Exit (‘CEE’) and lobby kiosk can be deployed to regulate facility access and track employee activities with automated time sheets. The company’s FYI platform connects the company’s customers’ employees with AI assisted digital help desk channels across departments and a federated search forum to quickly explore related topics and discussions. The company’s Intelligent Lockers are available for visitor day storage of luggage and to provide a secure chain of custody for parcels and mail for employees using the company’s hosted shipping and receiving tools. In June 2023, the company sold its high-speed scanner business.
Human Capital Management (‘HCM’)
The company has on-boarded all of its employees to the company’s proprietary human capital management platform, HCM. This platform integrates with the company’s existing offerings and is designed to help an enterprise and its employees manage the data and processes relevant to the entire employment lifecycle from recruitment to retirement. By providing digital management and data tracking for human capital, the company enables reduction in administrative overhead and enhanced management of human capital productivity while improving the overall experience. The company’s human capital management platform is available for sale. HCM has been supplemented by the company’s human resource outsourcing solution, Exela HRS, launched in 2021. Exela HRS includes services such as recruitment, payroll and benefits administration, offered to SMBs and enterprises. Exela’s learning management platform, LYNX, launched as a SaaS offering in 2022.
Industry Specific Services and Solutions
While the above-described solutions and services can be leveraged across industries, the company has also developed services and solutions for specific industries, which help the company’s customers around the world better manage their liquidity. The most significant are summarized below.
Banking and Financial Industry Solutions and Services
The company’s banking and financial solutions consist of payment, mortgage, enrollment, lending and loan management, governance and information management solutions and accounted for approximately 24% of 2023 revenue. Exela’s payment operations and treasury management solutions are designed to improve digital engagement and transaction speed and compliance. The company also provides mobile and remote deposit technologies to its banking and financial services customers.
The company is one of the largest non-bank processors of payments. The company handles many payment channels in addition to checks and credit cards, including automated clearing house (ACH), Faster Payments in the U.K., Single European Payment Area (SEPA), Bank Giro in the Nordics and other payment networks. The company performs these services on behalf of banks or their customers. The regulatory environment in many geographies is beginning to allow non-bank payment processors to connect to the payment networks directly such that one can verify funds, confirm payee and settlement of payments and are pursuing a PSP license in the European Union to further expand the company’s payment offerings.
The company has extensive experience and technology that the company has built over decades to serve many banks and companies to process the payments related to both business to business (‘B2B’) and business to consumer (‘B2C’) transactions. The company develops, uses, and sells proprietary integrated receivables processing technology, providing the company’s customers with a solution that consolidates B2B and B2C transactions across many payment channels into a single platform, connected to the company’s XBP network of global buyers and suppliers. The company plans to offer this as a branded or as a private label solution to the company’s banking customers giving them the ability to offer advanced treasury solutions with insights from accounts receivable, customer credit worthiness, payment habits, soft collections and delinquent collections.
The company adds value by automating manual, repetitive processes to improve speed and provide cost efficiencies within a compliant mortgage and lending completion process. The company’s proprietary mortgage and loan management solutions enable lenders to originate loans and service them with greater efficiency. The company’s platforms also enable invoice discounting, factoring, payables financing and leverage automation and integration such that traditional lenders and alternate lenders, including peer to peer lenders can provide liquidity to underserved borrowers.
The company’s key focus is connecting broken billing and payment processes through XBP using secure messaging and established settlement infrastructure. By providing a digital transformation path without heavy integration requirements, the company can rapidly improve user experience, reduce postage, print and mail costs, enable faster decisions, and facilitate optimal allocation of capital and risk management for the company’s customers. By using the company’s solutions and services, the company’s banking and financial services customers can better manage their lending book and at a lower cost of ownership.
The company’s banking solutions help organizations transform compliance, know your customer, anti-money laundering and confirmation of payee checks into a competitive advantage, including accelerated digital on-boarding, complex process automation, screening and monitoring and predictive analytics. Exela can provide these services as an end-to-end solution or as an augmentation of existing banking processes, as a technology license or through the company’s employees to manage a component or an entire process.
Healthcare Industry Solutions and Services for Insurance Companies and Healthcare Providers
Exela’s healthcare industry customers include commercial and government sponsored healthcare plans, hospital networks and university hospital systems and large medical distribution systems and pharmacy networks, and accounted for approximately 26% of total revenues in 2023. The company serves its customers using the company’s proprietary technology and for some customers combined with their systems.
The company bundles its core solutions and services with a suite of healthcare payer and provider specific services, such as end-to-end revenue cycle management (RCM), including revenue integrity solutions, enrollments and credentialing, claims processing, adjudication, and payment operations. The company specializes in simplifying complex transactions that require multiple layers of validation, supporting document digitization, reconciliation, and management of exceptions.
In 2020, the company launched a cloud-based claims processing gateway for the healthcare industry. The platform – PCH Global – enables healthcare providers (physicians and other healthcare practitioners) to streamline submission of healthcare claims, and enables payers (health insurers) to more efficiently process claims and related payments. The real benefit of the platform is the expected reduction in claim denials, faster processing of payments to providers, and ultimately, a better healthcare experience for patients. Acting as a central hub, PCH Global streamlines the paper claims process efficiently across the healthcare ecosystem, while also providing a complete digital payment infrastructure. These services directly address two of the most costly and time-consuming aspects of managing healthcare claims.
PCH Global leverages its distributed architecture to integrate Exela’s multiple industry offerings, including two industry leading edit engines to enable cleaner claims at point of service, reducing the risk of denial and delay. Along with processing and application of payments, the healthcare analytics feature generates insights, enabling further actions and process improvement. The platform also incorporates revenue integrity, denial and appeals management. PCH Global processes approximately 900,000 claims per day under this ecosystem and is available for deployment in various business models, including SaaS and BpaaS.
Insurance Industry Solutions and Services
Exela offers a suite of insurance industry solutions aimed at providing digital engagements and rapid integration of disparate systems and silos. The company’s insurance industry solutions accounted for approximately 8% of total revenues in 2023. The company provides applications and services to facilitate automation and digital transformation for underwriting and enrollments, premium payments, claims submission, first notification of loss, fraud, waste & abuse monitoring and integrated communications. The company’s solutions are aimed at improving the customer experience by providing digital pathways and transparency with web portals and integrated communications, while helping to improve quality and risk management.
Public Sector
The company provides technology and solutions to public sector customers. The company’s public sector solutions accounted for approximately 10% of total revenues in 2023. The company’s intention is to help its public sector customers with their digital journey and meet their objectives of better serving the public. Exela solutions are primarily deployed across pension benefits and administration, tax return processing, payment operations, inter-agency information management and communications with citizens and employees of government institutions.
The company’s solutions have evolved over time to include digital capabilities and are designed to reduce taxpayer refund waiting time, decrease the potential for tax fraud, and provide reports and data to the relevant stakeholders. Exela also has the infrastructure in place to process payments, perform collection services, handle overflow taxpayer calls, provide e-filing for individual income tax, generate outbound taxpayer notification (traditional and/or electronic notifications), and host other developed solutions.
Commercial, Tech, Manufacturing, Telecommunication, Utilities, Pharma, Life Sciences and Legal Industries Solutions and Services
For the commercial, technology, manufacturing, telecommunication, utilities, pharma, life sciences and legal industries, the company primarily provides multi-industry solutions described earlier. For 2023, the company’s commercial industry revenue accounted for approximately 6% of total revenues, the company’s revenues from the technology and manufacturing industry accounted for approximately 6%, the company’s telecommunication and utilities industry revenue accounted for approximately 4% of total revenues, the company’s pharma and life sciences industry revenue accounted for approximately 2% of total revenues, while the company’s revenue from the legal industry accounted for approximately 5%.
Historically, the majority of revenue for the above-mentioned industries was generated in the Americas, though there is significant expansion opportunity throughout EMEA and the Asian markets. As the company has made investments in its global scale, technology platforms, and business strategy, some of the company’s multi-national customers have expanded the company’s services to other geographies to leverage the company’s international footprint. The company’s value proposition as a single source provider with global platforms and location agnostic operations, positions the company as a differentiated partner to its multi-national customers.
With the launch of Smart Office, the company has been targeting technology companies in the company’s initial go-to-market approach. Technology companies have a heavy focus on employee experience to attract top tier talent, and they often serve as early adopters for new offerings setting trends across other industries, and they will serve as strong references as the company expands its Smart Office growth strategy.
Cyber Security, Data Modernization and Cloud Management, and Generative AI
In January 2024, Exela announced the formation of Reaktr.ai, a business unit aimed at addressing the evolving needs of the company’s clients in the cyber security, data modernization and cloud management, and generative AI spaces. With the constant threat of cybersecurity attacks, the company’s clients’ operations are in need of robust fortification. Digital transformation is a broad subject, however all digital transformations have a common denominator, which is data modernization. The company’s data modernization solutions enable clients’ data to be cloud ready. In cases where clients are cloud ready, Reaktr.ai is able to advise on the right solutions and to undertake the transition and subsequent management of the digital data. All of these solutions are complemented by AI-powered platforms that supplement operations which provides a competitive edge.
Revenues
The company provides services to its customers on a global basis. The company’s business consists of three reportable segments:
Information and Transaction Processing Solutions (‘ITPS’). The company’s largest segment, ITPS, spans across wide range of the company’s solutions and services designed to aid businesses in information capture, processing, decisioning and distribution to customers primarily in the financial services, commercial, public sector and legal industries. The company generates ITPS revenues primarily from a transaction-based pricing model for the various types of volumes processed, licensing and maintenance fees for technology sales, and a mix of fixed management fee and transactional revenue for document logistics and location services.
Healthcare Solutions (‘HS’). HS segment includes the company’s outsourcing business specializing in both the healthcare provider and payer markets. The company generates HS revenues primarily from a transaction-based pricing model for the various types of volumes processed for healthcare payers and providers.
Legal & Loss Prevention Services (‘LLPS’). The company’s LLPS segment includes a broad array of the company’s support services in connection with class action settlement administration, claims adjudication, labor, employment and other legal matters. The company generates LLPS revenues primarily based on time and materials pricing, as well as through transactional services priced on a per item basis.
Key Business Strategies
Exela business strategy is to use its Digital Now model, which aims to accelerate the company’s customers’ digital transformation through deployment of the company’s software automation techniques, hosted within a single, cloud hosted platform.
The key elements of the company’s growth strategy are to expand penetration of solution stack across customer base; expand relationships with existing customers; expand XBP network of buyers and suppliers; XBP for ERP Consolidation; Reaktr.ai - taking the AI Plunge; leverage BPA suite across on-site services; Work-from-Anywhere (WFA) enablement; pursue new customer opportunities; develop additional process capabilities and industry expertise; pursue meaningful cost synergy opportunities, make strategic investments, reposition services and accelerate long-term profitability; and dedicate more resources to pursue whitespace coverage to expand the company’s range of service offerings and pursue additional cross-selling opportunities.
Customers
The company serves over 4,000 customers across a variety of industries. The company’s customers are among the leading companies in their respective industries, and many of them are recurring customers that have maintained long-term relationships with the company and its predecessor companies.
Intellectual Property
The markets in which the company serves are competitive with both large and small businesses, as well as global companies:
Multi-national companies that provide data aggregation, information management and workflow automation services, such as IBM, EMC, OpenText, Hyland, Iron Mountain, Canon, and Ricoh;
Consulting, discrete process and platform integration service providers such as Fiserv, Jack Henry, FIS, Black Knight Financial, Optum, Broadridge Financial Solutions, Computershare, Cognizant, and Accenture;
Platform and front-end software providers, such as Workday, Salesforce, Blackline and Pega; and
Multi-shore BPO companies, such as Genpact, Cognizant, Exl service, Conduent, Wipro, and WNS.
Regulation and Compliance
The company handles, directly or indirectly through customer contracts and business associate agreements, a significant amount of information, including personal and health-related information, which results in the company’s being subject to federal, state and local privacy laws, including the Gramm-Leach-Bliley Act, the Health Insurance Portability and Accountability Act of 1996 (HIPAA), and the HITECH Act of 2009. Further, the company is subject to the local rules and regulations, including those relating to the handling of information, in the other countries in which the company operates. In addition, services in the company’s LLPS segment, though not directly regulated, must be provided in a manner consistent with the relevant legal framework. For example, the company’s bankruptcy claims administration services must be provided in accordance with the requirements and deadlines of the United States Bankruptcy Code and Federal Rules of Civil Procedure.
Data privacy laws and regulations in the U.S. and foreign countries apply to the access, collection, transfer, use, storage, and destruction of personal information in connection with the company’s services. In the U.S., the company’s financial institution customers are required to comply with privacy regulations imposed under the Gramm-Leach-Bliley Act, in addition to other regulations. The company also performs services for healthcare companies and are, therefore, subject to compliance with laws and regulations regarding healthcare information, including HIPAA in the U.S. The company also performs credit-related services and agree to comply with payment card standards, including the Payment Card Industry Data Security Standard.
Research and Development
The company’s research and development costs were $1.2 million for the year ended December 31, 2023.
History
Exela Technologies, Inc. was incorporated in Delaware in 2014.
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