Exela Technologies Announces New XBP Contracts Totaling $18.3 Million
June 03 2022 - 8:45AM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP) today
announced new customer wins worth $18.3 million over the next three
years. The new business is across two new logos and revenue will
begin accruing in the third quarter of 2022.
Exela’s Exchange for Bills and Payments (“XBP”), the largest
revenue contributor in the ITPS accounting segment, continues to
sign new logos. This integrated solution utilizes several of
Exela’s platforms including payment processing (TMS), collaborative
work flow (Beats) and digital mailroom (DMR) delivering a bespoke
solution used by Exela’s knowledge workers and its newly acquired
customers. As the pandemic recovery continues, XBP solutions
continue to uncover new use cases and the company sees increased
interest from customers.
“These new wins demonstrate the flexibility and potential that
XBP offers customers. Additionally, we have a pipeline of new
opportunities that we are pursuing that leverage the strength of
the XBP platform,” noted Lakshmi Narayanan Chandramohan SVP and
Business Manager – Exchange for Bills and Payments.
Exela is a leader in Bills and Payment processing
with more than thirty years of experience handling complex problems
and delivering simplicity. XBP liquidity solutions allow
billers, consumers and businesses to communicate and
transact. XBP offers a complete solution to its customers and
enables improved control, insights and analytics globally.
For more Exela news, commentary, and industry
perspectives,
visit: https://investors.exelatech.com/
And please follow us on
social:Twitter: https://twitter.com/exelatechLinkedIn: https://www.linkedin.com/company/exela-technologiesFacebook: 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.
About Exela TechnologiesExela 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 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.
Forward-Looking StatementsCertain 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