NORWALK, Conn., June 30, 2014 — Industry research firm Gartner, Inc. placed Xerox (NYSE: XRX) in the Leaders Quadrant of its 2014 Magic Quadrant for Finance and Accounting (F&A) Business Process Outsourcing (BPO).
Quadrant leaders have “superior market understanding, and they have a global client base, an extensive network of well-distributed and highly populated global delivery centers catering for multiple languages, a good balance of transactional and high-end F&A delivery and innovative well-communicated and marketed sales offerings,” the report said.
Gartner’s Magic Quadrant offers visual snapshots of a market’s direction, maturity and participants and evaluates companies on “completeness of vision and ability to execute.”
Xerox manages the core end-to-end process areas of finance, accounting and procurement for more than 190 clients. With more than 7,000 finance and accounting professionals supporting clients from 19 BPO centers around the world, Xerox performs 180,000 account reconciliations, processes $421 billion in global payables and processes payroll for more than 500,000 customer employees every year.
“We understand the challenges today’s finance and procurement professionals are facing,” said Mark Brennan, president, Xerox Finance, Accounting and Procurement Services. “With our deep industry experience in banking, healthcare, manufacturing and education, we’re helping clients simplify their processes and alleviate risks through our flexible financial capabilities. We’re currently developing special offerings to break into new industries and suit the needs of our growing client base.”
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 Gartner “Magic Quadrant for Finance and Accounting BPO”, May 28, 2014, Cathy Tornbohm.