Exela Technologies Continues to Sign New Logos for XBP

Rhea-AI Summary

Exela Technologies announced a significant contract with a new customer worth $6.8 million over three years. The Exchange for Bills and Payments (XBP) platform, a key revenue driver, continues to attract new clients by leveraging Exela's comprehensive solutions including payment processing and digital mailroom services. The company highlights increasing momentum within the XBP service, indicating a positive outlook for future growth.

Positive

• New contract worth $6.8 million over three years.
• XBP platform continues to add new customers, indicating strong demand.

Negative

• None.

IRVING, Texas, April 13, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) today announced a new customer and contract worth $6.8 million over the next three years.

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 (ExelaBeats) and digital mailroom (DMR) delivering a bespoke solution used by our knowledge workers and by our newly acquired customer. 

“We are pleased to see the momentum in XBP across various use cases,” said Lakshmi Narayanan SVP, Bills and Payments, Americas. “New customers are seeing the benefits of our customizable, easy to implement solutions and we look forward to further traction.”

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. Offering a complete solution to its customers, Exela enables improved control, insights and analytics globally in over 50 countries.

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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 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 over 17,000 employees operating in 23 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 the value of the new contract announced by Exela Technologies?

The new contract announced by Exela Technologies is worth $6.8 million over three years.

What platform is driving revenue for Exela Technologies?

The Exchange for Bills and Payments (XBP) platform is the largest revenue contributor for Exela Technologies.

What is the significance of Exela's new customer acquisition?

The acquisition of new customers reflects the growing demand for Exela's XBP platform and its integrated solutions.

When was Exela Technologies' press release issued?

The press release was issued on April 13, 2022.

How does Exela Technologies support businesses with its platforms?

Exela Technologies supports businesses through its integrated solutions, including payment processing, collaborative workflow, and digital mailroom services.