Xerox has chosen the names of new companies that will be created following the completion of its separation into two publicly traded companies. Its Business Process Outsourcing company will be named Conduent Incorporated, while its Document Technology company will continue to be called Xerox Corporation. The OEM said that the name Conduent was inspired by the new company’s expertise in connecting clients and their constituents through seamless transactions on a massive scale in areas such as customer care, transportation solutions, and healthcare payer and provider services. It added that “Conduent reflects the company’s position as a partner to businesses and governments, delivering experiences that drive satisfaction and retention among consumers, patients, commuters and employees.” With approximately $7 billion in 2015 revenue and 96,000 employees worldwide, Conduent will be a Fortune 500 scale business process services company with expertise in transaction-intensive processing, analytics and automation, said Xerox. Conduent will have the second-largest market share in the business process outsourcing industry worldwide.
“Conduent will begin its next chapter as a stand-alone company with a name that conveys the vital business we conduct every day,” said Ursula Burns, Chairman and Chief Executive Officer of Xerox. “Conduent is well-positioned to build on its strong heritage as a leader in business process services and will carry forward the values and culture of innovation, diversity and integrity from Xerox.”
The company also announced that the Document Technology company will retain the Xerox brand name, which is known globally for “revolutionizing the way the world communicates” – originally through copying and now through digital technology, software and services. “With unparalleled brand equity in printing and imaging, there is no better name for our document technology and document outsourcing businesses than Xerox. Building on its deep understanding of how the world works, communicates and shares content, the new Xerox will continue to help clients improve their workflow, productivity and business performance, no matter where they are on their digital journey,” Burns added.
Xerox’s new business process outsourcing company to be called Conduent
