Xerox 2012 Annual Report Download - page 9

7Xerox 2012 Annual Report
and our commitment to help them grow… a deep desire to make
our communities and our planet always better than they are… and
a responsibility to create value for all our stakeholders. You can count
on us to make it happen.
Thank you for your trust in Xerox. We work hard every day to earn it and
to keep it. It’s that simple.
Ursula M. Burns
Chairman and Chief Executive Officer
InterContinental Hotels Group needed a world-class
managed print approach. We checked in with our global
leadership and innovation.
Our Challenge: Improve the quality, efficiency and cost of
document services at IHG’s corporate office that can be scaled
to other properties globally.
Bottom-line Results: When IHG wanted to build a foundation
to streamline and automate business processes, reduce outside
printing expenses and create a reliable in-house print center with
color output capabilities, they turned to us. We introduced a more
efficient back office that improved productivity through digital
documents and automated work processes and saved IHG more
than $1.5 million a year on outside printing.
that question. Frankly, I didn’t. That’s because our strategy is built to
evolve. We continue to invest heavily in innovation and to work with our
customers to understand their changing needs. Although I can’t tell you
how we will be solving their business process problems five years out, I
can tell you that we will continue to simplify the way their back-office
work gets done while boosting productivity and reducing costs.
We’ve been at this for a very long time – ever since Chester Carlson set
out to make office work a little easier. It’s a journey toward a never-
ending goal of making things simpler for our customers so they can
focus on what matters most. That’s what we’ll be doing five years from
now and likely 50 years from now as well.
To that end, the team at Xerox and I are bullish about the future. We
know there’ll be hurdles to overcome, we know where we can improve,
but we also know we’ll stay focused, impatient with the status quo and
hungry for greater success. So this is a good time to keep your eye on
Xerox. Here’s why:
• Services-led growth;
• profitable leadership from Document Technology;
• cash-generating annuity-based business model;
• consistent earnings expansion; and
• financial strength to invest in building value for Xerox…
and building value for you.
And, of course, we’ll be doing all this with a passion for helping our
customers succeed… a thirst for innovation… a respect for our people
We have discussed our results using non-GAAP measures. Management believes
that these non-GAAP financial measures provide an additional means of analyzing
the current periods’ results against the corresponding prior periods’ results. However,
these non-GAAP financial measures should be viewed in addition to, and not as a
substitute for, the Company’s reported results prepared in accordance with GAAP.
Our non-GAAP financial measures are not meant to be considered in isolation or as
a substitute for comparable GAAP measures and should be read only in conjunction
with our consolidated financial statements prepared in accordance with GAAP. Our
management regularly uses our supplemental non-GAAP financial measures internally
to understand, manage and evaluate our business and make operating decisions.
These non-GAAP measures are among the primary factors management uses in
planning for and forecasting future periods.
A reconciliation of these non-GAAP financial measures to the most directly comparable
financial measures calculated and presented in accordance with GAAP are set forth on
page 11.
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