After the announcement over a year ago, Xerox has finally completed its separation into two standalone publicly traded companies, Xerox and Conduent.
Xerox has sales of around £9bn and will continue to handle document technology such as print and copy services and digital technology and software.
Conduent, which was named in June 2016, turns over around £5.5bn and will handle Business Process Outsourcing, which will involve working on and delivering fluid transactions and methods that simplify business processes and create seamless transactions in a variety of business areas.
In an interview with Fortune, Conduent CEO Ashok Vemuri said, “That construct of combining hardware with services didn’t necessarily pan out [for other similar companies]. So, it was thought that our two companies would be better served if they were sliced off and were allowed to control their own destiny and serve their own clients, their own market, their own technology, etc.”
Elsewhere, Xerox Chief Executive Jeff Jacobson said, “The successful completion of the separation sharpens our market focus and commitment to our customers.”
Strategic Transformation Process Remains
Along with the original announcement early last year, it was also announced a “strategic transformation” process that will take place over the course of three years. Xerox is looking to save over £1.5bn across all segments of its business and the separation won’t affect this.
The summation to take away from this is that the increased focus from Xerox will undoubtedly lead to much stronger print solutions for its customers.
