Xerox, integrated business solution providers, has acquired a document management expertise firm. The acquisition is designed to help Xerox increase their presence in the U.S. small to medium-sized business market.
Xerox Focus on Small Businesses
Document Systems have been a leading document solutions provider in Southern California but will now merge with the Western region of Xerox Business Solutions. The acquisition by Xerox is part of a wider strategic focus on small businesses.
The Covid-19 pandemic has forced many small businesses to rethink how they were conducting business and prepare themselves for a more resilient future. Increasing tech budgets and digitalization are among the leading reorganization strategies for small businesses.
Offering Small Business Support to be More Resilient
In acquiring Document Systems, Xerox will have the expertise to support small businesses in their quest to prepare for a more resilient future, through collaboration, communication, remote IT support, security and automation.
Xerox also purchased Groupe CT last month, as well as Digitex last year, with the intent to expand into the eastern and western Canadian markets. These acquisitions, along with Document Systems, have greatly improved the portfolio of workplace solutions that can benefit small businesses.
The EVP, Chief Commercial, SMB and Channels Officer at Xerox, Joanne Collins Smee, said of the reasons for the recent acquisitions: “We’re focused on strengthening our U.S. small and midsize business market reach through the combined power of our portfolio of workplace solutions for SMBs and well-established local technology providers.”
Collins Smee also highlighted exactly what Document Systems bring to the table, saying: “As part of Xerox Business Solutions, Document Systems’ document management expertise will help us elevate the customer experience, improve productivity and power growth for SMBs.”
Small Businesses Forced to Innovative
While no terms of the transaction have been disclosed, a big part of Xerox’s decision to purchase Document Systems comes down to the many varied changes that have been forced upon small businesses during the pandemic. Businesses have been forced to innovate new ways of conducting business as well as ensuring they have an enduring resiliency for the future.
According to Xerox’s State and Fate of Small and Medium Business survey, many small businesses survived the pandemic by turning to automation and digitization. They also used the opportunity to improve security to emerge stronger after the pandemic restrictions are lifted. The survey revealed that 85% of the SMB owners questioned had become much more reliant on the latest communication technologies and remote IT support, as well as security hardware and software.
Xerox saw that across the board among small businesses, tech budgets were increasing and that digital transformation plans were being fast-tracked. With much of the SMB market believing digitization to be critical to their survival, Xerox expanded their own operations by purchasing Document Systems to cater directly to this need.
Adding More Depth to the Xerox Talent Pool
The acquisition will add even more depth to the Xerox talent pool, with the corporation already boasting many scientists and engineers devising disruptive technologies in digital transformation.
Xerox is also developing workplace solutions using augmented reality, robotic process automation, additive manufacturing, Industrial Internet of Things and cleantech.