Exela Technologies

Exela Technologies Holdings, Inc. Reports Full Year 2023 Results

Retrieved on: 
Thursday, April 4, 2024
Automation, Capital expenditure, Growth, Data science, Information, FAO, Adjustment, Investment, Cloud computing, Exela Technologies, Transaction, Beauty salon

“2023 was a challenging year with focus on stabilizing revenues and recovering from the effects of our network outage in 2022.

Key Points: 
  • “2023 was a challenging year with focus on stabilizing revenues and recovering from the effects of our network outage in 2022.
  • We maintained our focus on cost management and leveraging automation, and have 2023 initiatives in process continuing into 2024 to achieve our margin improvement goals.
  • We improved gross margins and operating income, however we did not accomplish all of our goals in 2023 and have room to grow,” said Par Chadha, Executive Chairman of Exela Technologies.
  • Net Loss: Net loss for 2023 was $124.4 million ($125.1 attributable to Exela Technologies Inc), an improvement of $291.4 million compared with a net loss of $415.6 million in 2022.

Exela Technologies and XBP Europe Announce the Launch of Reaktr.ai to Provide Cybersecurity, Data Modernization and Multi-Cloud Management Enabled by AI 

Retrieved on: 
Tuesday, January 23, 2024
Cloud, COE, AI, FAO, Exela Technologies, XBP, Center of excellence

IRVING, Texas and LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) and XBP Europe (“XBP”) (NASDAQ: XBP, XBPEW) announce the launch of a new Global Business Unit, Reaktr.ai .

Key Points: 
  • IRVING, Texas and LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) and XBP Europe (“XBP”) (NASDAQ: XBP, XBPEW) announce the launch of a new Global Business Unit, Reaktr.ai .
  • Reaktr.ai is another example of Exela addressing a rapidly changing industry in which demand outpaces the customer’s capacity to access available talent.
  • This strategic move positions the Company at the forefront of the cyber, large data and generative AI landscape.
  • Reaktr.ai is also establishing Centers of Excellence (CoE) for both Exela and XBP, propelling operational efficiency and innovation to enterprise customers.

Exela Technologies and XBP Europe Announce the Launch of Reaktr.ai to Provide Cybersecurity, Data Modernization and Multi-Cloud Management Enabled by AI

Retrieved on: 
Tuesday, January 23, 2024
Cloud, COE, AI, FAO, Exela Technologies, XBP, Center of excellence

IRVING, Texas and LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) and XBP Europe (“XBP”) (NASDAQ: XBP, XBPEW) announce the launch of a new Global Business Unit, Reaktr.ai .

Key Points: 
  • IRVING, Texas and LONDON, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP) and XBP Europe (“XBP”) (NASDAQ: XBP, XBPEW) announce the launch of a new Global Business Unit, Reaktr.ai .
  • Reaktr.ai is another example of Exela addressing a rapidly changing industry in which demand outpaces the customer’s capacity to access available talent.
  • This strategic move positions the Company at the forefront of the cyber, large data and generative AI landscape.
  • Reaktr.ai is also establishing Centers of Excellence (CoE) for both Exela and XBP, propelling operational efficiency and innovation to enterprise customers.

Exela Technologies Recognized as a Disruptor in Avasant Research Report

Retrieved on: 
Tuesday, January 9, 2024
DMR, Human resource management, Digital mailroom, Great Resignation, HCM, Language, Investment, Acquisition, Exela Technologies, BPA, LLM

IRVING, Texas, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced today that the Company has been recognized as a Disruptor in the Avasant Talent Acquisition Business Process Transformation 2023–2024 RadarView.

Key Points: 
  • IRVING, Texas, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced today that the Company has been recognized as a Disruptor in the Avasant Talent Acquisition Business Process Transformation 2023–2024 RadarView.
  • Enterprises, therefore, are reducing their dependence on traditional recruitment agencies and outsourcing strategic talent acquisition processes.”
    The report evaluated 42 providers across three key dimensions: practice maturity, domain ecosystem, and investments and innovation.
  • “Being acknowledged in talent acquisition by Avasant validates Exela's unwavering commitment to transformative solutions, strategic growth, and pioneering innovation in the industry.
  • Click here to view a copy of the Talent Acquisition Business Process Transformation 2023–2024 Market Insights™ report.

Exela Technologies Recognized as Emerging Solution in FAO Hackett Value Matrix™

Retrieved on: 
Wednesday, December 13, 2023
Business, Exela Technologies, CFOS, SVP, Organization, Intelligence, Automation, ERP

IRVING, Texas, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced that the Company has been recognized as an Emerging Solution Provider in the Hackett Value Matrix™ for Finance and Accounting Outsourcing Solution Providers (“FAO”).

Key Points: 
  • IRVING, Texas, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced that the Company has been recognized as an Emerging Solution Provider in the Hackett Value Matrix™ for Finance and Accounting Outsourcing Solution Providers (“FAO”).
  • The Hackett Excelleration Matrix™ evaluates providers’ differentiated capabilities and also assesses the value that organizations can expect solutions to deliver.
  • Exela was also acknowledged for delivering robust accounting automation, from purchase requisition to invoice posting into the ERP systems.
  • “The recognition by the Hackett Group is a validation of the adoption of Exela’s FAO solutions by a growing roster of more than 2,400 clients.

Exela Technologies Named in Forrester’s ‘The Accounts Payable Invoice Automation Landscape, Q1 2024 Report’

Retrieved on: 
Monday, December 11, 2023
Exela Technologies, Automation, AP, Bookkeeping

IRVING, Texas, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced today that the Company has been included in the Forrester's ‘Accounts Payable Invoice Automation Landscape, Q4 2023 report’.

Key Points: 
  • IRVING, Texas, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced today that the Company has been included in the Forrester's ‘Accounts Payable Invoice Automation Landscape, Q4 2023 report’.
  • In an overview of 33 notable vendors, this comprehensive report focuses on how accounts payable invoice automation (APIA) can streamline the capture of invoice data, automate key steps in the invoice validation process, and provide reporting and analysis of the financial implications of processed invoices.
  • This reflects our dedication towards developing technology that helps customers lower costs and improve their supplier relationships with enhanced compliance,” said Suresh Yannamani, CEO Exela Technologies BPA.
  • To view a copy of the Forrester Accounts Payable Invoice Automation Landscape, Q1 2024 report and learn more about the AR automation field click here .

Exela Technologies, Inc. Receives Expected Nasdaq Notice Regarding Late Form 10-Q Filing

Retrieved on: 
Friday, November 17, 2023
Security (finance), Second, Calendar, Exela Technologies, Automation, File, Letter

The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.

Key Points: 
  • The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.
  • As a result of this additional delinquency, Nasdaq granted an exception for the Company to submit an update to the Compliance Plan on or before November 27, 2023, including the Company’s plans to file the Third Quarter Form 10-Q.
  • Any additional exceptions from Nasdaq to allow the Company to regain compliance with the Delinquent Reports will be limited to a maximum of 180 calendar days from the due date of the Second Quarter 10-Q, or February 5, 2024.
  • The Company anticipates filing the Second Quarter 10-Q on or before November 27, 2023, and intends to file Third Quarter 10-Q as soon as reasonably practicable.

The Hackett Group: New FAO Service Provider Research Finds Wealth of Mature, Well-Established Solutions

Retrieved on: 
Wednesday, December 13, 2023
Software, Research, Accounting, Professional Services, Robotics, Data Management, Technology, Artificial Intelligence, Science, Other Professional Services, Finance, Other Technology, Consulting, WNS, Risk management, Wipro, Datamatics, AA, IBM, Tata Consultancy Services, TCS, Element, Infosys, Appetite, Artificial intelligence, Machine learning, HCLTech, Automation, Digital, Research report, RPA, Accenture, Partnership, FAO, Exela Technologies, BPO, Conduent, Publication, Retail, Marketing, Genpact

This research is available now to service providers, and research advisory and consulting clients through a new FAO Market Intelligence Program that provides a concierge level of insights into the FAO service provider market.

Key Points: 
  • This research is available now to service providers, and research advisory and consulting clients through a new FAO Market Intelligence Program that provides a concierge level of insights into the FAO service provider market.
  • The Hackett Group does not endorse any participant, vendor, product or service depicted in its research.
  • This research should not be considered as advice that a company considering FAO select only those participants based on their ranking or position on the FAO Hackett Value Matrix.
  • The Hackett Group’s research publications consist of the opinions of its research organization and should not be interpreted as factual statements.

Exela Technologies Announces New $15 Million Contract

Retrieved on: 
Thursday, September 28, 2023
Partnership, Marketing, XME, XBP, Uniform Computer Information Transactions Act, TCV, AI, Cryptocurrency, Exela Technologies

IRVING, Texas, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business process automation (“BPA”) today announced a contract with a public company in the leisure and hospitality space.

Key Points: 
  • IRVING, Texas, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business process automation (“BPA”) today announced a contract with a public company in the leisure and hospitality space.
  • The three-year, $15 million TCV contract allows the customer to improve marketing efforts by utilizing Exela’s Marketing Automation platform (“XME”) to decrease time to market, increase operational efficiencies and decrease costs.
  • XME is a platform within Exela’s Exchange for Bills and Payments (“XBP”) solution suite that is further enhanced by AI analytics.
  • XBP is the largest revenue contributor in the Information Transaction and Processing Solutions (“ITPS”) accounting segment of Exela which reported over $765 million in revenue in 2022.

Exela Technologies Announces Expansion of Digital Marketing Execution Solutions with a New Logo in Healthcare Industry

Retrieved on: 
Thursday, September 7, 2023
ITPS, Exela Technologies, TCV, XME, Book, Marketing, Online shopping

IRVING, Texas, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business processing automation (“BPA”) announced today that the Company signed a new customer for its Marketing Execution solution (“XME”).

Key Points: 
  • IRVING, Texas, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business processing automation (“BPA”) announced today that the Company signed a new customer for its Marketing Execution solution (“XME”).
  • Exela’s customer, a large regional healthcare provider, was using multiple vendors for print, promotional products and branded apparel leading to inefficiencies and escalating costs.
  • “The rich features of the XME solution greatly enhances productivity, reduces waste and adds a level of personalization.
  • Additionally, our XME solution will provide cost savings of over 15% while also improving processes,” noted Ken Bechard, President, Integrated Communications Solutions, Exela Technologies.