Xerox 2002 Annual Report Download - page 5

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As this report goes to press, we will be introducing new tech-
nology for the office – products and services that will further
expand our fleet of worldclass offerings. They will include
new solutions, a new family of black and white multi-func-
tion products, and color printers.
And our third opportunity is in the services market which is
growing at around 15 percent a year. This market includes
knowledge, content and document management – areas
where we have considerable expertise and resources.
Our highly successful document outsourcing business gives
us a strong base on which to build. More than 12,000 Xerox
employees currently work on site in hundreds of customer
offices around the world. They operate in-house printing and
copying centers, and manage document workflow across
the enterprise for our customers. More and more, these cus-
tomers are turning to us for help in redesigning processes,
improving productivity and strengthening customer relation-
ships – all starting from our base of knowledge and expertise
around the document.
In aggregate, these three opportunities – production, the office
and services – give us lots of room to run. We do not want for
opportunity. We are engaged in three attractive markets
where we can choose our sweet spots, add value for our cus-
tomers, grow profitable revenue for Xerox and reward our
shareholders for their investments. We estimate that over time
these three markets will yield five percent a year revenue
growth – even more if we are highly successful in areas such
as digital production printing, color, high value solutions for
the office and services.
Our Vision For The Future
If you think of Xerox as a world leader in office products like
copiers and printers, you are only half-right. To be sure we
have the broadest and deepest set of products in our industry
– an arsenal of products that were substantially strengthened
in 2002 and will be again in 2003.
But that’s only part of the story. I spend a lot of my time – every
opportunity I get really – talking to Chief Executive Officers
and Chief Information Officers. I hear several common
themes emerge over and over. They need to drive significant
improvements in productivity. They need to access informa
3
As this report goes to press, we will be introducing new tech-
nology for the office – products and services that will further
expand our fleet of worldclass offerings. They will include new
solutions, a new family of black and white multi-function
products, and color printers.
And our third opportunity is in the services market which is
growing at around 15 percent a year. This market includes
knowledge, content and document management – areas
where we have considerable expertise and resources.
Our highly successful document outsourcing business gives
us a strong base on which to build. More than 12,000 Xerox
employees currently work on site in hundreds of customer
offices around the world. They operate in-house printing and
copying centers, and manage document workflow across
the enterprise for our customers. More and more, these cus-
tomers are turning to us for help in redesigning processes,
improving productivity and strengthening customer relation-
ships – all starting from our base of knowledge and expertise
around the document.
In aggregate, these three opportunities – production, the office
and services – give us lots of room to run. We do not want for
opportunity. We are engaged in three attractive markets
where we can choose our sweet spots, add value for our cus-
tomers, grow profitable revenue for Xerox and reward our
shareholders for their investments. We estimate that over time
these three markets will yield five percent a year revenue
growth – even more if we are highly successful in areas such
as digital production printing, color, high value solutions for
the office and services.
Our Vision For The Future
If you think of Xerox as a world leader in office products like
copiers and printers, you are only half-right. To be sure, we
have the broadest and deepest set of products in our industry
– an arsenal of products that were substantially strengthened
in 2002 and will be again in 2003.
But that’s only part of the story. I spend a lot of my time –
every opportunity I get really – talking to Chief Executive
Officers and Chief Information Officers. I hear several
common themes emerge over and over. They need to drive
significant improvements in productivity. They need to