Xerox 2007 Annual Report Download - page 10

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We like to say that no one knows the document better than Xerox. The ability to manage
document-intense processes has opened doors to new business and new markets.
And, it’s why we’re investing in acquisitions that further carve out our niche in this
space. Last year, we acquired Advectis® Inc. and started Xerox Mortgage Services, which
provides one of the mortgage industry’s most widely used solutions for sharing electronic
documents. In 2006, we acquired Amici LLC and launched Xerox Litigation Services to
become a leading provider of electronic discovery and document services that support
legal and regulatory compliance.
So just about everywhere you look there are proof points that our strategy is right,
our execution focused and our momentum building. That said, Xerox shareholders
and the management team share a common belief; as good as our progress has been,
it’s now a part of our history. Yesterday’s accomplishments are only important insofar
as they provide a bridge to tomorrow’s promise.
Growing the business faster
Accelerating growth in a competitive environment remains a priority. We’re not yet
where we want to be. Key to expanding growth is expanding our distribution channels.
It’s the area of improvement where I believe we can make more progress and where
we are focusing considerable time, talent and resources. We’re advantaged with a
rich portfolio of technology and services, the industry’s smartest experts in document
management and a respected brand known around the world. We’re skilled at managing
global accounts in big businesses and the commercial print market. But to really ratchet
up growth, we need to reach even more potential customers in businesses of any size.
Acquiring Global Imaging was a step in the right direction, as was giving our agents and
resellers access to more Xerox products and packaged services to sell. We need to – and
we will – take this to the next level now by broadening the availability of the Xerox brand
through diverse direct and indirect channels.
To do this well, we’re connecting even more closely with our customers, predicting
and responding to their needs. It’s no secret that I spend a lot of time with customers.
So does my entire team. Some of that time is spent fixing problems and some of it selling,
but most of it is spent listening – really listening. And when you do that, you learn some
pretty interesting stuff.
The CEOs I meet with – and they are from a wide variety of industries and geographies –
worry that they are not harnessing new technology to leverage growth and better serve
their customers. They worry about escalating costs and where to place their IT investment
bets so they stay ahead of the curve. They see an explosion of digital information in
their enterprises, but are also confronted with a legacy of paper and don’t know how to
make sense of it all. They understand the need for information to flow freely and easily
throughout their organizations and around the world, but worry about security breaches.