Exela Technologies Announces a 5-Year contract with ÖBB, Austria’s National Railway Company
May 11 2022 - 9:00AM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP),
today announced a 5-year contract with ÖBB, Austria’s National
Railway Company, valued at a Total Contract Value of ~$2.5 million.
The Bills and Payments (“XBP”) deal is part of ITPS, Exela’s
largest accounting segment.
The ÖBB project is a prime example of the breadth of solutions
that Exela can provide. As part of this project, Exela will deploy
its full digital payment platform capable of deciphering complex
invoices across more than 13 languages and will employ artificial
intelligence which optimizes and forecasts various payment
solutions that are compatible with complex legacy accounting
platforms.
“XBP is helping a number of customers regardless of where they
are in their digital transformation. We are proud to align with ÖBB
to help manage their Bills and Payments pain points. Our language
and technology solutions including artificial intelligence are also
compatible with legacy accounting systems bringing together the new
and the old.” said Vitalie Robu, President of Exela EMEA.
About ÖBB
The ÖBB Group started operating in 1923. Based on the Federal
Railway Structure Act of 2003 (Bundesbahnstrukturgesetz 2003) one
of the greatest Change Management processes ever in an Austrian
business was successfully put on track. Today, the ÖBB Group
employs a workforce of almost 42,000. Based on its new strategy it
aims at positioning itself among the top European railways.
About Exela Technologies
Exela Technologies is a business process automation (BPA)
leader, leveraging a global footprint and proprietary technology to
provide digital transformation solutions enhancing quality,
productivity, and end-user experience. With decades of experience
operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100. Utilizing
foundational technologies spanning information management, workflow
automation, and integrated communications, Exela’s software and
services include multi-industry, departmental solution suites
addressing finance and accounting, human capital management, and
legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and the public sector. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and approximately 17,000 employees operating in
23 countries, Exela rapidly deploys integrated technology
and operations as an end-to-end digital journey partner
For more Exela news, commentary, and industry
perspectives,
visit: https://investors.exelatech.com/
And please follow us on social:
Twitter: https://twitter.com/exelatech
LinkedIn: https://www.linkedin.com/company/exela-technologies
Facebook: https://www.facebook.com/exelatechnologies/
Instagram: https://www.instagram.com/exelatechnologies
The information posted on the Company's website and/or via its
social media accounts may be deemed material to investors.
Accordingly, investors, media and others interested in the Company
should monitor the Company's website and its social media accounts
in addition to the Company's press releases, SEC filings
and public conference calls and webcasts.
Forward-Looking Statements
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "may", "should", "would", "plan",
"intend", "anticipate", "believe", "estimate", "predict",
"potential", "seem", "seek", "continue", "future", "will",
"expect", "outlook" or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, estimated or anticipated future results
and benefits, future opportunities for Exela, and other
statements that are not historical facts. These statements are
based on the current expectations of Exela management and
are not predictions of actual performance. These statements are
subject to a number of risks and uncertainties, including without
limitation those discussed under the heading "Risk Factors"
in Exela's Annual Report and other securities filings. In
addition, forward-looking statements
provide Exela's expectations, plans or forecasts of
future events and views as of the date of this
communication. Exela anticipates that subsequent events
and developments will cause Exela's assessments to
change. These forward-looking statements should not be relied upon
as representing Exela's assessments as of any date
subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent KondaveetiE: vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE: IR@exelatech.com
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From Apr 2023 to Apr 2024