Exela Technologies placed in 2022 Magic Quadrant™ for Finance and Accounting Business Process Outsourcing

Rhea-AI Summary

Exela Technologies has been recognized by Gartner® as a Niche Player in the Magic Quadrant for Finance and Accounting Business Process Outsourcing, as announced on June 30, 2022. This recognition highlights Exela's F&A BPO services, reflecting its competence in executing innovative financial solutions backed by deep business analytics. The company serves over 3,400 global clients across numerous industries. Exela's offerings utilize big data and automation to transform the financial services sector, aiming for enhanced efficiency and reduced human intervention.

Positive

• Exela has been positioned as a Niche Player in Gartner's Magic Quadrant for Finance and Accounting Business Process Outsourcing.
• Exela serves over 3,400 global clients, showcasing a diverse portfolio across 15 industry verticals.
• The company's FAO services incorporate advanced technologies such as big data and automation, improving financial service efficiency.

Negative

• None.

Recognized for Completeness of Vision and Ability to Execute

IRVING, Texas, June 30, 2022 (GLOBE NEWSWIRE) -- Exela Technologies (NASDAQ: XELA, XELAP) (OTC: XELAW), a leading and innovative provider of solutions in the Finance and Accounting Business Process Outsourcing domain, today announced that Exela Technologies has been positioned by Gartner® as a Niche Player in the Magic Quadrant for Finance and Accounting Business Process Outsourcing for its offering, F&A BPO services. The evaluation was based on specific criteria that analyzed the company’s overall completeness of vision and ability to execute.

Exela’s product-led Finance and Accounting (FAO) Service Suite is embedded with deep business analytics, helping finance leaders modernize and automate their end-to-end F&A functions. Exela’s F&A professionals serve over 3,400 global clients, across 15 industry verticals. 

Exela FAO Services suite incorporates big data, digitization, and modern technologies to transform how the financial services industry functions. The future of finance and accounting will be driven by automation, touchless transactions, minimized human interference, and decisions driven by data and insights.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

View a complimentary copy of the Magic Quadrant report to learn more about Exela Technology’s strengths and cautions, among other provider offerings, at www.exelatech.com/.

Explore Exela’s FAO services and solutions here.

Gartner disclaimer

Gartner, Magic Quadrant for Finance and Accounting Business Process Outsourcing, Sanjay Champaneri, Ashwani Gupta, 27 June 2022

Gartner and Magic Quadrant are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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/

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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 Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com

FAQ

What does Exela Technologies' recognition as a Niche Player in the Magic Quadrant mean?

Exela Technologies was named a Niche Player in Gartner's Magic Quadrant for Finance and Accounting Business Process Outsourcing, indicating its unique market position and capabilities in this sector.

How many clients does Exela Technologies serve?

Exela Technologies serves over 3,400 global clients across various industries.

What technologies are included in Exela Technologies' FAO services?

Exela's FAO services utilize big data, automation, and modern technologies to enhance finance and accounting processes.

When was Exela Technologies recognized by Gartner for its F&A BPO services?

Exela Technologies was recognized by Gartner on June 30, 2022.

What sectors does Exela Technologies' client base span?

Exela's client base spans 15 industry verticals, indicating its broad market reach.