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Xerox has held an Investor Day to provide details on its strategic initiatives and financial plans.
The company revealed that it plans to deliver over $3 billion of cumulative free cash flow over the next three years and drive developments in a number of areas, including 3D printing, IoT and AI workflow assistants.
“With a history of designing breakthrough technologies, Xerox is ‘made to think.’ We are taking a disciplined approach to creating the next generation of innovative technologies and intelligent work solutions to meet our clients’ evolving needs,” said John Visentin, vice chairman and CEO, Xerox.
“By simplifying our operations, instilling a culture of continuous improvement, investing in growth areas and capitalising on new and adjacent market opportunities, we anticipate that we can achieve flat to growing revenue by 2021, while driving continued annual adjusted earnings per share expansion, including at least $4.00 of adjusted earnings per share in 2020, and delivering over $3 billion of cumulative free cash flow over the next three years.”
Xerox outlined its comprehensive strategy to improve the company’s revenue trajectory. Elements of the strategy include plans to improve its core technology business, expand its services and software, and capitalise on the opportunity in SMB amongst other things
The company also plans to “leverage Xerox technology to drive developments” in digital packaging and print, 3D printing, AI workflow assistants, and sensors and services for the Internet of Things.
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