Exela Technologies Secures XBP Contract Totaling $136 Million
June 22 2022 - 8:30AM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP) today
announced a new customer win of $136 million in total contract
value (“TCV”) over three years bringing the year-to-date XBP TCV
wins to $175 million.
Exela’s Exchange for Bills and Payments (“XBP”), the largest
revenue contributor of the $874.2 million ITPS accounting segment
for FY 2021, continues to sign new logos including 5 new XBP logos
in 2022. This integrated solution utilizes several of Exela’s
platforms including TMS® for payment processing, its collaborative
Beats® workflow and digital mailroom (“DMR”) delivering a bespoke
digital solution used by Exela’s knowledge workers and its
customers.
“This win highlights our scalable, referenceable XBP platforms
effectiveness for rapid deployment for our customers. We are
excited by the positive reception for our market-ready solutions
that leverages our extensive experience in the payment space”,
noted Lakshmi Narayanan Chandramohan, President - Bills and
Payments
Exela is a leader in Bills and Payment processing
with our XBP liquidity solutions enabling billers, consumers
and businesses to communicate and transact. XBP offers a
complete solution to its customers and enables improved control,
insights, and analytics globally.
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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
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