Xerox 2003 Annual Report Download - page 4

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2
In many ways, the curtain has closed on the
Xerox turnaround. But we are keenly aware
that most great plays have two acts. As
pleased as we are with our performance the
past few years, we know that it has merely
set the stage for what is to come next – a
period of growth and greatness for Xerox
and for Xerox shareholders. We are already
busy creating that future.
Fortunately, we do not want for opportunity. I spend a lot of
time with our customers – every chance I get. And every time
I do, I come away bullish on our prospects for growth. Chief
Executive Officers and Chief Information Officers have some
very common and critical problems: the need to reduce
costs and boost productivity, the desire to get closer to their
existing customers and attract new ones, the need to make
sense of a dizzying array of new technologies, and an almost
desperate desire to optimize their investments in technology
and make sure that technology is working for them and not
against them.
And whenever I hear those customer needs, I know that Xerox
is part of the solution. Let me give you three examples of how
we are helping our customers deal with their most pressing
business problems:
•In more than 200 blue-chip companies, Xerox has done
rigorous Office Document Assessments to understand docu-
ment workflows. We are saving these customers an average
of 30 percent of their document costs and streamlining their
processes as well.
•In a growing list of marketing companies, our digital printing
solutions are enabling our customers to communicate with
their customers more effectively. We are helping hundreds of
our customers find what up to now has been the elusive Holy
Grail of marketing – the ability to communicate with large
customer bases with one-to-one precision at just the right
time with just the right information, while eliminating the
need to maintain inventories of marketing materials that
quickly become obsolete.
Declining Debt
as of December 31
($ billions)
2000 2001 2002 2003
14.2
11.2
18.6
16.7