Xerox Announces Multi-Year Cloud Agreement with Oracle
Terms of the deal were not disclosed.
For Xerox, the move is part of efforts to accelerate the development of new businesses, whether in the form of new business units, startups, subsidiaries or joint ventures, that go beyond its flagship printers and copiers.
At the height of the Covid-19 pandemic in 2020, as companies turned to remote working and left desks empty, Xerox’s net profit for the quarter ended September 30 fell to $ 90 million, against $ 219 million a year earlier. Net income was roughly unchanged for the same period this year, at $ 89 million, the company said in October.
Creating new internal businesses is a pre-pandemic strategy, but one that has been accelerated by workplace closures and remote working, said Naresh Shanker, senior vice president and chief technology officer at Xerox.
The goal, said Shanker, is to develop companies offering a range of products and services focused on 3D printing, the industrial Internet of Things and sustainable technologies, among other emerging technologies, areas that the company identified as having high potential. for rapid growth.
âThe idea is to create an environment and an agility to compete with all the startups around the world in these different sectors,â Mr. Shanker said.
Xerox, based in Norwalk, Connecticut, leverages Oracle cloud services to provide the digital backbone for these new businesses, including enterprise applications for e-commerce platforms, finance and accounting, budgeting and accounting. financial planning, analysis and a data warehouse, among other tools, he says.
Each new business should have its own information technology system, depending on its industry and market, Shanker said. Most importantly, he added, these systems need to be installed quickly and have the flexibility to adapt to changing market demands.
âIt’s all about speed. That’s what brought us here, âsaid Shanker.
Alastair Woolcock, vice president analyst at computer research and consulting firm Gartner Inc., said Xerox’s challenge is to innovate faster than smaller, more nimble tech startups.
âThe best way to do this is to invest and help co-build and incubate growth start-ups,â he said.
Jonathan Tikochinsky, executive vice president of Oracle’s global strategic customer group, said its cloud infrastructure and business applications are designed to be deployed quickly and easily. âWe continue to invest in new services and the geographic reach of our cloud, making it easier for companies like Xerox and high growth companies to adopt our cloud,â he said.
Xerox previously used Oracle cloud services to create its own software company, CareAR, which launched in September. The company, which operates as a division within the company, has developed an augmented reality platform designed to allow technicians to provide technical support services remotely using smartphones, tablets or of smart glasses.
Likewise, a new 3D printing company, launched in February, took advantage of Oracle cloud infrastructure that was installed in six weeks. Previously, it would have taken around three months to set up IT systems for new internal businesses, the company said. Xerox’s 3D printing business seeks to provide more flexible supply chains to manufacturers, including allowing them to order spare parts locally or simply print them on site.
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