— Submitted by Ursula Burns, chief executive officer
In real business, change is a constant. Transformative change isn’t as frequent but it sure is significant.
That holds true for Xerox. Especially today. We just closed on our acquisition of Affiliated Computer Services, Inc. (ACS). The deal transforms our company into the world’s leading enterprise for business process and document management.
Who is ACS? Fair question. ACS’s expertise is in business process and IT outsourcing. They are behind the scenes managing many day-to-day operations – most of which require the handling of documents and paper-intensive work – think health care record keeping, claims reimbursement, loan processing…you get the picture. Here’s a quick snapshot of how ACS touches millions of lives every day.
- Provides services to more than 1,700 federal, state, county and local governments, making ACS the largest provider of managed services to government entities in the United States
- Processes about $3 billion electronic toll collections every year (think E-Z Pass!)
- Handles more than one million phone calls daily in 140 customer care centers
- Processes 16 million parking tickets annually
- Manages more than 12.5 million federally-guaranteed student loans
- Processes about 1 million credit card applications annually
- Provides HR services to more than 4.4 million employees and retirees
They are an impressive, growing company with exceptional leadership (their CEO is Lynn Blodgett – an amazing leader and a great person. By the way, it’s worth checking out Lynn’s book here. ) They give us instant scale in the fast-growing $150 billion BPO marketplace – and we give them a well-known brand, global reach and innovation to help drive efficiency in the work they do for clients. We’re able to connect our strengths in document technology and services with their expertise in managing document-driven processes.
This is the new Xerox. We’re now a $22 billion global enterprise with 130,000 talented people in 160 countries and a services business that has tripled in size to more than $10 billion.
The terms “transformation” and “game changer” tend to be overused in business. This time they’re true. For 50 years, Xerox has built and strengthened leadership in document technology – first, the copier, then multifunction printing, digital production publishing, color laser printing, solid ink, managed print services. It’s a heritage of innovation we continue to build on today. But now we take that leadership to the next level by broadening our company to include the services businesses need so they can focus on what matters most: their real business.
In case you can’t tell, I’m very excited by the possibilities that stretch out before Xerox. I had a mentor years ago who used to say that that there was no better feeling in business life than helping – really helping – a customer. Well, our ability to do precisely that has just gotten a whole lot better. The acquisition of ACS puts an exclamation point on our decade-long drive to transform Xerox. It dramatically escalates the value we can deliver to our customers.
The real work and the real fun of securing that future begin today. This is the new Xerox. All of us – now 130,000 strong – are ready for real business.
— Ursula Burns, chief executive officer