Xerox Corp.’s operating margin has been sliding in recent years. And reversing that slide is the number-one job of the company, CEO Ursula Burns said Tuesday.
“The focus of my management team is to buck and change that trend,” Burns said Tuesday during the company’s annual shareholder meeting.
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The meeting, held at Xerox’s corporate headquarters in Norwalk, Conn., saw Burns fielding a variety of questions from shareholders on topics ranging from her 2013 paycheck to how the closing of stores by office supply chain giants Staples and Office Depot are affecting it (short answer, so far no discernible impact).
Burns said Xerox’s services-related business — which handles everything from insurance claim and bill payment processing to staffing call centers — is expected to be the power-train accelerating growth at the printing and business services giant. Services now account for 57 cents of every dollar the company takes in (click to Tweet). By 2017, that number is expected to be 66 percent.
However, that services business has stumbled in recent months. In 2013, it grew by 3 percent — a couple percentage points short of Xerox’s expectations. And the company in April ratcheted downward its projections for profits in 2014, citing more-than-expected spending on new Medicaid and health insurance exchange platforms.
Other Xerox Stories…
- Xerox MPS Cuts Nuclear Provider’s Print Costs by 25%
- Xerox Helps Kelly Services Achieve Sustainability Savings of 50%
- Xerox Managed Print Services Assessment – Video
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