Exela Technologies Announces Public Sector Customer Growth

Rhea-AI Summary

Exela Technologies signs additional US counties for its Digital Mailroom solution, contributing to revenue growth in its ITPS segment. The solution brings organization and clarity to the digital transformation process and enhances document access and usability.

Positive

• Exela's Digital Mailroom solution continues to increase market share in the Public Sector customer space
• Revenue in Exela's ITPS segment generated $765 million in 2022
• The solution brings organization and clarity to the digital transformation process
• Enriched content output enables integration with various channels

Negative

• None.

IRVING, Texas, July 18, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business processing automation (“BPA”), announced today that the Company signed several additional US counties for its Digital Mailroom (“DMR”) solution, continuing to increase its market share of the Public Sector customer space contributing to Exela’s ITPS segment, which generated $765 million of revenue in 2022.

Exela is working with various counties to provide a robust, secure, end to end solution that brings organization and clarity to the digital transformation process, while also addressing compliance requirements. Exela’s enriched content output enables integration with various channels enhancing document access and usability.

“I am looking forward to working with Exela to modernize our existing processes which should create a faster and more secure workflow for all parties involved in the Court Process. My staff and I are also looking forward to the extra time to work on current cases versus having to thumb through excessive paper files,” noted Daniel Schetter Jersey County Illinois Circuit Clerk.

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.

About Exela Technologies

Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions that improve efficiency, quality, and productivity. 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. With foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry solution suites addressing finance & accounting, human capital management, facilities optimization, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Exela is a leader in workflow automation, attended and unattended cognitive automation, digital mailrooms, print communications, and payment processing, with deployments across the globe. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 15,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

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 Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com

FAQ

What is Exela Technologies' revenue in the ITPS segment?

Exela's ITPS segment generated $765 million in revenue in 2022.

What does Exela's Digital Mailroom solution do?

Exela's Digital Mailroom solution brings organization and clarity to the digital transformation process and enhances document access and usability.

What market is Exela targeting with its Digital Mailroom solution?

Exela is targeting the Public Sector customer space with its Digital Mailroom solution.

What are the benefits of Exela's Digital Mailroom solution?

The solution brings organization and clarity to the digital transformation process and enables integration with various channels.