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Press release from Business Wire

Xerox Acquires UK-based Customer Value Group

Tuesday, July 02, 2013

Xerox Acquires UK-based Customer Value Group

08:00 EDT Tuesday, July 02, 2013

NORWALK, Conn. (Business Wire) -- Xerox (NYSE: XRX), today announced its acquisition of Customer Value Group Ltd. (CVG), a software company that specializes in cloud-based accounts receivable (AR) and financial customer relationship management software.

CVG's primary product, Value+ is a Software as a Service (SaaS) cloud application that simplifies the management of customer credit, collections, and disputes; improving overall cash collections. It also consolidates the management of accounts receivable and customer service processes and provides a single operational and reporting view across regions, countries and industry segments.

CVG's clients include Fortune 500 multi-national corporations that manage the order-to-cash process related to more than $15 billion of revenue in eight countries, seven languages and multiple currencies.

Xerox will offer Value+ as part of its finance and accounting process outsourcing services -- processing of client sales and as a stand-alone software application for corporations' internal finances.

“Our customers are increasingly looking for simple solutions that offer flexibility while keeping operations lean,” said Mark Brennan, group president, Xerox Finance, Accounting and Procurement Services. “With Value+, Xerox can offer a flexible solution that can be easily tailored to meet any business model; further strengthening our full suite of finance and accounting process services.”

Based in the United Kingdom, CVG's management team and employees will remain with the company and will continue to operate from its London office.

Xerox is a recognized leader in finance and accounting business process outsourcing. Gartner has positioned Xerox in the Leaders Quadrant in its Magic Quadrant for Comprehensive F&A BPO since 2009.

About the Magic Quadrant

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Xerox

Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping people be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com.

Note: To receive RSS news feeds, visit http://news.xerox.com/rss. For open commentary, industry perspectives and views visit http://www.linkedin.com/company/xerox, http://twitter.com/xeroxcorp, http://realbusinessatxerox.blogs.xerox.com, http://www.facebook.com/XeroxCorp, http://www.youtube.com/XeroxCorp.

Xerox® and Xerox and Design® are trademarks of Xerox in the United States and/or other countries.

Prices, features, specifications, capabilities, appearance and availability of Xerox products and services are subject to change without notice.

Media:
Xerox
Alex Charles, +1-203-849-5348
Alexander.Charles@Xerox.com
or
Text 100 for Xerox
James Baussmann, +1-212-871-4078
JamesB@Text100.com

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