Press release from Business Wire
Xerox Acquires UK-based Customer Value Group
Tuesday, July 02, 2013
Xerox Acquires UK-based Customer Value Group08:00 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.
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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.
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