Exela Technologies Strengths, Domain Expertise, and Key Differentiators
Exela Technologies' comprehensive suite of software and services encompasses a diverse range of sectors, including finance & accounting, human capital management, legal management, banking, healthcare, insurance, and public services. Their offerings span workflow automation, digital mail rooms, both attended and unattended cognitive automation, print communications, and payment processing, ensuring efficient and tailored solutions for various industries and organizational needs.
Exela Technologies Recent Developments
In July 2021, Exela Technologies expanded its AI-enabled automation offerings in the BPA realm by integrating Intelligent Document Processing (IDP) with its robotic process automation platform (EON). This cutting-edge automation solution is deployed in the healthcare and public sectors, solidifying Exela's position as an industry leader. IDP facilitates document classification, data extraction, and data routing into a cloud or on-premise hosted service portal, offering a containerized, dynamically scaling solution accessible on-demand from anywhere. Leveraging an extensive library of machine learning-based classifiers, Exela enhances document processing automation in healthcare and public sectors, with plans for increased projects in finance and legal sectors in the pipeline.
In August 2020, Exela unveiled DrySign, its exclusive eSignature platform, following a successful closed-beta release to 3,000 users.
DrySign harnesses Exela's digital signature technology, enabling secure and legally enforceable signature exchanges from any location, at any time, with precise instructions. The platform supports individual, multi-party, and hierarchical signature workflows, along with remote document delivery, archiving, and process administration—all without the need for paper. As part of Exela's expanding suite of home office solutions, DrySign aids agile employees, freelancers, and businesses of all sizes in adapting to remote work arrangements amidst the COVID-19 pandemic challenges.
In addition to Exela's current BPA offerings, DrySign is a cloud-based solution accessible from any internet-connected device. It's designed for seamless integration with both Exela and third-party applications through a robust API.
Exela Technologies Mergers and acquisitions (M&A) Activities
In June 2023, Imaging Business Machines ("ibml") made headlines with its acquisition of Exela Technologies' IntelliScan Smart Scanning Solutions ("Intelliscan"). This strategic move significantly bolsters ibml's product lineup and service capabilities, particularly in addressing high-volume digitization demands. Under the agreement, ibml will take over the assets of Exela Technologies' high-volume scanner and North America hardware maintenance divisions. The transition ensures a smooth experience for Intelliscan customers, who will continue to receive comprehensive scanning solutions and support from ibml. This acquisition reinforces ibml's standing as a leader in delivering intelligent document processing solutions for mission-critical operations. By integrating the IntelliScan portfolio, ibml expands its market reach and enhances its ability to cater to a wider range of customer needs with an extended array of products and services.
Exela Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Exela Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Exela Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Exela HRS, LYNX,iExtrakt, InnovAIt,DoqDNA, CourtQ.XBP (Biller and Payer) Exchange, ExelaH360, customers.
Exela Technologies Overview
Ownership: - Nasdaq:XELA
Number of Employees: 16000
Functional Market: Core HR, Payroll, Benefits Administration, Compliance, Onboarding, Recruiting, Applicant Tracking Systems, Performance Management, Learning and Development, Compensation,
Key Verticals: Banking and Financial Services, Communications, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Utilities,
Exela Technologies Key Cloud and HCM Applications
Exela HRS, LYNX,iExtrakt, InnovAIt,DoqDNA, CourtQ.XBP (Biller and Payer) Exchange, ExelaH360,
Exela Technologies HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Exela Technologies Revenue Breakdown by Type:
Exela Technologies HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Exela Technologies HCM Applications Revenues By Verticals, $M:
Exela Technologies Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Exela Technologies Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Exela Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Exela Technologies Customers
No. of Exela Technologies Customers: 4000
No. of Exela Technologies HCM Applications Customers: x
No. of Exela Technologies Cloud HCM Customers: x
No. of Exela Technologies Cloud HCM Subscribers: x
Exela boasts a clientele of over 4,000 organizations, counting among them over 60% of the Fortune 100 and 98% of the AmLaw 100. Their reach extends across more than 50 countries, offering services to clients at nearly 1,200 onsite facilities and through approximately 150 strategically positioned delivery centers throughout the Americas, Europe, and Asia
Exela Technologies Market Opportunities, M&A and Geo Expansions
In November 2023, Exela Technologies announced that its European subsidiary, XBP Europe Inc., completed a business combination with CF Acquisition Corp. VIII (Nasdaq: CFFE). The merged entity will now operate as XBP Europe and its shares will trade on the Nasdaq Stock Market under the ticker symbol "XBP," with warrants under "XBPEW" beginning November 30, 2023.
XBP Europe serves as a pan-European integrator of bills and payments, linking buyers and suppliers of all sizes and industries to enhance digital transformation, market liquidity, and sustainable business practices. Renowned for its expertise, XBP Europe offers business process management solutions and software suites, fostering enduring partnerships with over 2,000 clients across Europe, including many blue chip companies. Leveraging a cloud-based structure and adaptable configurations, XBP Europe effectively deploys solutions across any EMEA market, serving as a strategic technology and operations partner for clients' transformative journeys.
In September 2020, Exela Technologies introduced PCH Global, the healthcare industry's inaugural comprehensive, cloud-based claims processing gateway. This innovative platform empowers healthcare providers, including physicians and other practitioners, to simplify the submission of healthcare claims. Additionally, it facilitates payers, such as health insurers, in more efficiently processing claims and associated payments. The platform's primary advantages include anticipated reductions in claim denials, expedited payment processing for providers, and ultimately, an enhanced healthcare experience for patients.
Exela Technologies Risks and Challenges
As of December 31, 2022, Exela Technologies had approximately $1.1 billion in long-term debt, excluding current maturities. Despite plans to reduce it, success isn't assured, leaving a substantial debt load. High leverage may restrict cash flow, increase default risks, impede financing access, limit flexibility for business actions, raise interest payments, hinder agility in market responses, disadvantage against competitors, and heighten vulnerability to economic downturns.
Exela Technologies Ecosystem, Partners, Resellers and SI
In January 2023, Exela Technologies forged a strategic partnership with Quintes Global (QG). Exela will implement its cloud-based Robotic Process Automation (RPA) solution to facilitate end-to-end process digitization for QG's clients, utilizing the Dedicated Captive Model. Exela's RPA solution offers flexibility and customization, leveraging advanced technologies such as big data, machine learning, artificial intelligence, natural language processing, and predictive analysis. This solution is part of Exela's Exchange for Bills and Payments (XBP) portfolio within the Information and Transaction Processing Solutions (ITPS) accounting segment, which generated $874.2 million in revenue for FY 2021.
Exela Technologies engages in both direct and indirect sales channels. The company has offices spanning across the USA, UK, Canada, France, Ireland, Germany, Spain, Netherlands, China, India, and the Philippines.
Exela Technologies Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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- Exela Technologies Public Cloud and Infrastructure (IaaS)
- Exela Technologies Platform (PaaS)
- Exela Technologies Application Delivery
- Exela Technologies Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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