Xerox Corporation is leveraging its $ 3.5 billion outsourcing business and rapidly growing solutions and professional services units to pursue an estimated $ 100 billion market opportunity. These offerings, coupled with its focus on non-paper-related opportunities such as Web-based document solutions, consulting and network services will become a major source of revenue for Xerox as it evolves to meet customer demands.
Speaking at an industry consultant meeting, Anne M Mulcahy, President and CEO, Xerox said that Xerox is building a focused portfolio of solutions and people-based services to help customers work smarter. Mulcahy said that Xerox will support its solutions and services expansion as part of a turnaround plan that includes $ 1 billion in cost reductions and $
2 billion to $ 4 billion in asset sales and related cash generating initiatives.
Xerox's solutions portfolio builds on the success of its existing technology and addresses specific customer needs such as one-to-one marketing, electronic bill and statement presentment and print-on-demand.
Mulcahy concluded her remarks by stating, "Xerox has the brand, technology and the customer relationships to move beyond the box. Solutions and services are the key planks that will enable us to execute this strategy."