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Exela Technologies, Inc. (NASDAQ: XELA) is a global leader in business process automation (BPA), leveraging a vast global footprint and proprietary technology to provide digital transformation solutions. Exela's primary objective is to enhance quality, productivity, and end-user experience through its innovative services. The company has decades of experience in managing mission-critical processes and serves a diverse clientele of over 4,000 customers across 50 countries, including more than 60% of the Fortune 100.
Exela operates through multiple segments: Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS), and Legal and Loss Prevention Services (LLPS). The ITPS segment generates the majority of the company's revenue, reflecting Exela’s strength in handling complex information and transaction processes.
Utilizing foundational technologies such as information management, workflow automation, and integrated communications, Exela offers a wide range of software and services. These include multi-industry departmental solution suites that address finance and accounting, human capital management, and legal management, along with industry-specific solutions for banking, healthcare, insurance, and public sectors.
Exela’s cloud-enabled platforms are built on a configurable stack of automation modules, enabling rapid deployment of integrated technology and operations as part of an end-to-end digital journey. The company employs approximately 17,500 individuals operating in 23 countries, ensuring a broad reach and efficient service delivery.
Recent achievements include launching a new Global Business Unit, Reaktr.ai, which focuses on cyber, large data, and generative AI. The goal is to address the rapidly changing industry demands and enhance operational efficiency and innovation for enterprise customers. Led by industry veteran Vineet Chaku, Reaktr.ai is expected to be a significant growth driver for Exela.
Financially, Exela has been working on stabilizing revenues and improving its balance sheet. The company has focused on cost management, leveraging automation, and making strategic investments in cyber security, data modernization, and cloud services. These efforts are aimed at positioning Exela for future growth and improving its overall financial health.
For the latest updates, news, and industry perspectives, visit Exela's investor relations website and follow them on social media:
For investor and media inquiries, contact Vincent Kondaveeti at vincent.kondaveeti@exelatech.com or Mary Beth Benjamin at IR@exelatech.com.
Exela Technologies (NASDAQ: XELA) has expanded its partnership with a leading technology services provider, focusing on Medicaid programs with an initial value exceeding $2.5 million. This collaboration enhances the PCH Global platform, promoting payment integrity and revenue cycle management. The platform aims to ensure clean claims and reduce retrospective collections, with improved data analytics and cloud-hosted solutions. This expansion underscores Exela's commitment to delivering effective healthcare solutions and building healthier communities nationwide.
Exela Technologies has expanded its partnership with Mastercard in the EMEA region, focusing on automating Giro payments in Norway via its XBP platform. The initiative aims to enhance processing efficiency for over 11 million Giro payments using advanced optical/intelligent character recognition and automated signature verification. Exela's president for EMEA, Vitalie Robu, expressed pride in continuing this collaboration, highlighting its significance in the Norwegian market as part of Exela's global rollout of the XBP solution.
Exela Technologies (NASDAQ: XELA) announced a significant expansion with a leading health insurance organization, reinforcing a two-decade relationship. The latest expansion is valued at $6.2 million and focuses on enhancing the PCH Global platform to support digital transformation in healthcare. This upgrade aims to optimize the member and provider experience through improved data analytics and scalability, ultimately promoting transparency in claims processing. The company's commitment to this partnership reflects its ongoing investment in healthcare technology and customer-centric solutions.
Exela Technologies (NASDAQ: XELA) reported significant growth in its Digital Mailroom (DMR) and DrySign® services, with DMR customer growth at 44% and DrySign user growth soaring to 135% compared to the prior quarter. The company is expanding its DrySign services into France and Germany in Q1 2022. Additionally, Exela launched Remote Online Notarization (RON), further integrating it with DMR and DrySign. President Suresh Yannamani expressed optimism about continued growth trends as remote operations become more prevalent.
Exela Technologies has released its 'End of Year Update – FY2021' on its investor relations website, highlighting key achievements from 2021. The company will provide a comprehensive earnings report in March 2022. Exela serves over 4,000 customers across 50 countries, including more than 60% of the Fortune 100. The firm specializes in business process automation, leveraging proprietary technology to enhance operational efficiency and customer experience.
Exela Technologies (NASDAQ: XELA) has secured a $2 million contract with a prominent US-based property insurance firm to utilize its Intelligent Document Processing (IDP). This partnership aims to assist the client in its digital transformation by digitizing tens of millions of legacy files. Exela's President, Suresh Yannamani, expressed enthusiasm for continuing the long-standing relationship, emphasizing their commitment to accelerating digital journeys. This contract marks a significant step in enhancing Exela's service offerings.
Exela Technologies (NASDAQ: XELA) announced an expansion of its partnership with a major managed care corporation, enhancing PCH Global Cloud services for Medicaid return mail management. The relationship, ongoing since 2014, is valued at over $7 million annually. The expansion aims to improve claims processing and overall efficiency in the healthcare industry, leveraging PCH Global's capabilities for better payment transparency and digital appeals. Exela is committed to investing in advanced data analytics and cloud solutions as part of this initiative.
Exela Technologies has renewed a three-year contract with a leading insurer for its payment processing services, with an expected value of $3.5 million. This contract reaffirms a partnership lasting over 11 years, showcasing Exela's commitment to customer satisfaction and business efficiency. The company’s Transaction Management Services platform, alongside its BPA solutions, is aimed at expediting payments and enhancing customer experience. Despite the challenges posed by the pandemic, Exela remains focused on aiding clients in their digital transformation journeys.
Exela Technologies, Inc. (NASDAQ: XELA) has successfully secured a 4.3-year renewal agreement valued at $69 million with a global Human Capital Management (HCM) services provider. This contract aims to deliver critical unified communication services and includes transactional mailing services intended to support retirement, health benefits, and payroll communications. Exela is committed to enhancing its collaboration with the client, emphasizing a strategic foundation for future global expansion. The company serves over 30 million communications annually, showcasing its significant role in managing client workflows.
Exela Technologies (NASDAQ: XELA) has renewed a 4-year agreement with a global Human Capital Management services provider, valued at $72 million, which includes four months from the previous contract. Exela will continue to deliver essential communication services, facilitating over 30 million communications annually related to retirement, health, payroll, and more. This renewal is seen as a strategic foundation for expanding their global partnership, supporting a broad suite of services from recruitment to payment solutions.
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