Xerox 2013 Annual Report Download - page 19

Download and view the complete annual report

Please find page 19 of the 2013 Xerox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Services-Driven Revenue Growth and Global Expansion
Through ongoing innovation and acquisitions, over half of the Company’s revenue was derived from business
services in 2013. Our target is to increase business services to approximately two-thirds of total revenue by 2017.
The majority of our BPO and ITO revenues are currently derived from services provided to customers in the U.S. By
leveraging our existing global presence and customer relationships, we are expanding our BPO and ITO services
internationally. In addition, we expect to grow globally through acquisitions. Three of the four Services segment
acquisitions in 2013 were made outside of the U.S.
Strengthen and Differentiate Our Portfolio
• Portfolio Management: Xerox has a broad and diverse set of offerings in Services and a strong and well-
positioned product portfolio in Document Technology. We are strengthening our market positions by evaluating
our businesses and focusing our investments in areas where we have an advantage, and where the greatest
market opportunities exist. We expect to accomplish this by targeting acquisitions and investing in businesses
that will enhance our Services offerings and capabilities, capitalize on advantaged verticals and expand
services globally, while maintaining our document technology leadership in attractive market segments.
• Enhance Services Offerings and Capabilities: Differentiating our Services offerings is key to our strategy. We
direct our research & development (R&D) investments to areas such as data analytics and business process
automation, and we are investing in attractive markets, such as healthcare, to create differentiation. In addition,
our acquisitions target companies providing new capabilities and offering access to adjacent Services areas.
We expect this will deliver incremental added value for our customers and drive profitable revenue growth for
our business.
• Maintain Document Technology and Outsourcing Leadership in Attractive Market Segments: We
continue to maintain leadership in Document Technology and managed print services (MPS). We are focused
on maintaining this leadership position and continuing to innovate around our software, hardware and services
offerings. For instance, in 2013: we launched Xerox® ConnectKey®, a major new software and solutions
capability, across a number of multifunction printers in our product portfolio; we enhanced our competitive
position in high-end color printing through our acquisition of Impika; and we leveraged our leadership in
document technology to grow our BPO and ITO businesses.
• Capitalize on Advantaged Verticals: Across our business, we serve verticals where we have deep expertise
resulting from years of experience, strong customer relationships, and large scale and renowned innovation.
Capitalizing on the opportunities that these strengths provide will continue to be key to our growth.
• One example of an advantaged vertical is healthcare, where we have built a $2 billion business that
touches every aspect of the industry - government, provider, payer, employer and pharmaceutical. In
addition, we apply innovation to differentiate our unique offerings. As a result, we are positioned to
capitalize on current industry trends, including the changes presented by healthcare reform in the U.S.
• We also view transportation, wireless communications and graphic communications (among others) as
advantaged verticals in which we have a leading position, strong capabilities and attractive market
opportunities.
Customer and Employee Focused
Our Services and Document Technology offerings and know-how are a powerful combination. But, at the end of the
day, they are only as good as our people. Xerox people define the customer experience and, as such, define our
reputation. That’s why the value we deliver to customers is a point of pride for us and personifies Team Xerox, living
our values and putting customers first every day. The charge in 2014 is to continue to keep the customer at the
center of our world.
To help do that, we continue to nurture and develop our employees’ talents by investing in HR processes and
systems to equip them with modern tools that will make it easier for them to preform their job more effectively,
manage their careers and provide more opportunities for growth and development. As our business improves, we
will ensure that we share the Company’s success with our employees.
Xerox 2013 Annual Report 2