Xerox is a company that has been helping businesses for many years with their efficient scanning and printing systems. Before competitors arose, nearly all offices had some type of Xerox machine. The brand had such a high level of recognition that the phrase “Xerox it” became a common phrase in the workplace. However there are probably a few things you didn’t know about Xerox which we are going to cover in this article.
5. Xerox is one of the largest IT outsourcers
In addition to its large line of printers and copiers Xerox provides a wide array of IT services for companies that do not have an IT department in-house. Outsourcing IT services is a great way for smaller companies to save money which can then be used elsewhere. Xerox offers their customers data center services, mainframe management, mid range web management, enterprise data storage and backup, network managing services, infrastructure management, cloud computing services, and IT security services.
4. Xerox sells a range of work flow optimization software
Xerox also develops and sells some of its own software that is optimized for businesses to have a cleaner and easier workflow. Their software is compatible with their products (no surprise) and allows business to have streamlined document production and printing. Xerox realized that it needed to expand from just printers and scanners so they began to develop software to make everyday tasks easier for businesses and firms.
3. They have had some problems with the SEC and their tax forms
In 2002 the Securities and Exchanges Commission filed a complaint against Xerox over a restated financial statement concerning around $2 Billion dollars. The SEC accused Xerox of deceiving the public with their financial statements and “cooking their books” concerning the years 1997-2000. In response to this Xerox neither confirmed or denied the accusation, and eventually settled with the SEC and paid $10 million dollars in fines. Their financial auditors got in trouble again in 2003 concerning a $3 billion dollar gap in revenue and a $1.4 billion dollar gap in their reported revenues before taxes leading to their auditors to pay a $22.48 million dollar fine and Xerox to pay a $10 million civil penalty fine. Again, Xerox and their auditors, KPMG, neither confirmed or denied these accusations despite settling with the SEC.
2. Xerox is the leader of transportation solutions for governments
Xerox also provides local and state governments with a variety of solutions for transportation services. Xerox has developed many electronic toll collection systems and “smart meter” parking technologies in over 35 countries for 40 years. According to their website they have helped local and state governments collect over $37 billion dollars annual in public transit fares, whether it be for subways, buses, or parking meters. They also handle around 11 million customer phone calls regarding their transportation services annually.
1. Xerox offers healthcare solutions
In addition the variety of services and products that Xerox offers, they also offer healthcare provider solutions and services. These solutions make it easier for healthcare providers and hospitals to access patient data and improve their workflow. Their website boasts that ” Xerox offers services that touch two out of every three insured lives in the U.S” which is a very impressive claim. Xerox provides their healthcare services to 31 states and Washington, D.C. while operating in over 1,500 United States hospitals.
Photo provided by Xerox
