Despite experiencing top-line decline over the years on decreased demand for paper-related systems and products, Norwalk, Connecticut-based Xerox remains a leader in the contractual print and document services market.
Post reorganization (that does not involve any change in operations, directors and executive officers) as a wholly-owned subsidiary of a new holding company in 2019, the company is trying to attain greater strategic, operational as well as financial flexibility.
Xerox deploys an aggressive product-development program to revive sales. It has developed one of the industry’s strongest portfolios of managed print service (MPS) solutions and services.
Xerox’s strategy is to use data-centric technologies to better help customers in their digital transformation journey, taking advantage of the changing market conditions. The company is trying to offer end-to-end management of the entire office print infrastructure. It focuses on market trends, such as cloud, analytics, digital and security, with a view to effectively address customer needs.The company is using security and digital transformation as key competitive differentiators. A global service delivery model, flexibility and scalability of MPS services and billing options, and close relationships with customers and partners are its key strengths. Programs like Virtual Print and FedRAMP authorization are helping the company broaden its market opportunities.
Xerox’s bottom line is benefiting from "Project Own It," an initiative aimed at increasing productivity and operational efficiency, reducing costs and realigning business to changing market conditions. It produced $640 million in cost savings through the project in 2019.
An aggressive business strategy of Xerox makes sense as it continues to operate in a highly competitive market. It competes based on technology, price, performance, quality, reliability, distribution, brand and customer service and support. The largest competitors include Hewlett-Packard, Canon, Konica Minolta and Ricoh.
The company believes its business strengths are brand recognition, reputation for document management expertise, innovative technology and service delivery excellence.