Exela Technologies Strengths, Domain Expertise, and Key Differentiators
"Exela Technologies is a location-agnostic global business process automation ("BPA") company combining industry-specific and multi-industry-agnostic enterprise software and solutions with decades of experience. Exela's BPA suite of solutions is deployed in banking, healthcare, insurance, and other industries to support mission-critical environments.
Exela is a leader in workflow automation, attended and un-attended cognitive automation, digital mailrooms, print communications, and payment processing with deployments across the globe."
Exela Technologies Recent Developments
In July 2021, Exela Technologies expanded its offering in AI-enabled automation in the BPA space with Intelligent Document Processing (“IDP”) combined with its robotic process automation platform (“EON”). This industry-leading automation solution is deployed in the healthcare and public sector and further cement Exela as one of the leaders in the industry. IDP enables the automation of document classification, data extraction, and data routing into a cloud or on-premise hosted service portal that provides a containerized, dynamically scaling solution that can be accessed from anywhere on-demand. Using the IDP system, Exela has begun leveraging an extensive and growing library of machine learning-based classifiers that significantly augment the automation of document processing in the healthcare and public sector and has plans to ramp up projects in the finance and legal sectors soon. br> In August 2020 Exela launched DrySign, its proprietary eSignature platform. Following a successful closed-beta release to 3,000 users.
DrySign is powered by Exela’s digital signature technology, which allows users to securely exchange legally enforceable signatures from anywhere, at any time, with specifically targeted instructions. The platform offers individual, multi-party, and hierarchical signature workflows, and facilitates remote document delivery, document archiving, and full process administration—no paper required. DrySign is part of Exela's growing suite of home office solutions, focused on supporting agile employees, freelancers, and businesses of all types and sizes as they navigate the transition to remote work arrangements in response to the challenges presented by the COVID-19 pandemic.
Supplementing Exela’s existing BPA offerings, DrySign is cloud-enabled and accessible from any internet-connected device. DrySign is designed to integrate seamlessly with other Exela and third-party applications through a robust API.
Exela Technologies launched Zuma, a cloud-based rapid integration multi-industry lending platform. The platform will support both traditional and alternative asset classes, as well as alternative sources of lending. Zuma debuted with a live demonstration in May 2018. Zuma was initially developed to address the large and underserved invoice lending market for businesses, which has been hampered by high underwriting costs.
The invoice financing platform allows banks to automate their underwriting processes so that they can create accounts receivable-based lending solutions to compete in the approximately $3 trillion factoring market. Since initial development, Zuma has expanded to cover additional borrowing sectors including mortgages, personal and government-sponsored loans, and auto loans thus enabling other, non-traditional investors such as institutional investors to match their risk and sectors profiles against the desired sector and participate in the lending marketplace. Zuma is a natural expansion for Exela, with Exela’s platforms helping to enable billions of dollars of loans. Enterprise and cloud revenue was significantly increased in the financial filing, this was attributed mainly to the Novitex customers."
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 Banking and Financial Suite customers.
Exela Technologies Overview
Ownership: - Nasdaq:XELA
Number of Employees: 17500
Key Verticals: Automotive, Banking and Financial Services, Communications, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Oil, Gas and Chemicals, Professional Services, Retail, Utilites,
Exela Technologies Key Cloud and HCM Applications
Banking and Financial Suite
Exela Technologies HCM and Cloud HCM Applications Revenues, $M:
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* 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:
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Exela Technologies HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2020 HCM Revenues, By Sub-Functional Markets, $M
Exela Technologies HCM Applications Revenues By Verticals, $M:
Exela Technologies Total and HCM Applications Revenues by Region:
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Exela Technologies Direct vs Indirect sales
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Exela Technologies Customers - Breakdown by Geo, Size, Vertical and Product
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 serves over 4000 clients, including more than 60% of the Fortune 100 and 98% of AmLaw 100, across more than 50 countries.
Exela provides services at nearly 1,200 onsite client facilities and through approximately 150 delivery centers strategically located throughout the Americas, Europe, and Asia.
Exela Technologies Market Opportunities, M&A and Geo Expansions
In September 2020, Exela Technologies launched the healthcare industry’s first all-encompassing, cloud-based claims processing gateway. The platform – PCH Global – enables healthcare providers (physicians and other healthcare practitioners) to streamline the submission of healthcare claims, and enables payers (health insurers) to more efficiently process claims and related payments. The real benefit of the platform is the expected reduction in claim denials, faster processing of payments to providers, and ultimately, a better healthcare experience for patients.
In January 2019, Exela acquired healthcare industry assets. By leveraging industry-leading healthcare platforms, cognitive automation, and deep domain knowledge, Exela’s existing healthcare business of $346 million, or 22% of total revenue on a trailing 12-month basis ending September 30, 2018, is positioned to grow higher than the overall industry estimate of 5%.
In October 2018, Exela Technologies has been selected to provide payment and exception processing services for a top 10 global bank and financial services company. The new business is an expansion of the existing relationship spanning more than a decade and covers new services to further the bank’s digital journey.
In July 2017, Exela Technologies closed the previously announced business combination with SourceHOV Holdings, Inc.and Novitex Holdings, Inc. to become one of the largest global providers of transaction processing and enterprise information management solutions."
Exela Technologies Risks and Challenges
The company's revenues are highly dependent on a limited number of industries, and any decrease in demand for business process solutions in these industries could reduce revenues and adversely affect the results of operations. Consolidation in any of these industries or combinations or mergers, particularly involving their customers, may decrease the potential number of customers.
Exela Technologies Ecosystem, Partners, Resellers and SI
In July 2018, Exela Technologies partnered with McKesson Specialty Health to provide a suite of business management tools from enrollment and claims processing, to adjudication and payment/copay services.
Exela Technologies does Direct and Indirect Sales.
It has offices in the USA, UK, Canada, France, Ireland, Germany, Spain, Netherlands, China, India, Philippines.
Exela Technologies Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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).
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