Xerox 2007 Annual Report Download - page 5

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Xerox Annual Report 2007 3
The numbers, as they say, speak for themselves but they don’t tell the entire story.
Turnarounds are easy to track and to talk about; transformations evolve more slowly
and are harder to define. Over the past several years – step by step and brick by
brick – we have built a new Xerox.
I believe we are at an inflection point. We have evolved into a services-led technology
company that is known for innovation and customer focus. We help manage the
massive flow of information and communication in businesses today. We’re a content
management provider and a trusted partner that can help our customers make the
most of their IT infrastructure and bridge the paper and digital worlds.
The Xerox once known for copiers, printers and paper has greatly expanded its footprint.
New technology and services offerings are generating billions of dollars in recurring
revenue for us.
We’ve made some critical strategic bets in the past few years that are now differentiating
Xerox in the marketplace and fueling our growth. We invested heavily in color, determined
to be the market leader. We coined the term “The New Business of Printing” and vowed
to bring digital technology to what was largely the province of offset or lithographic
printing. We also invested in technology and distribution to aggressively attack the office
market and expand the business we do with small and mid-size companies. And we vowed
to become a services-led partner in large enterprises.
I’m not given to exaggeration or hyperbole, but I feel strongly that we have achieved
considerable success on all four fronts.