VIENNA, Austria, May 11, 2022 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), today announced a 5-year contract with ÖBB, Austria’s National Railway Company, valued at a Total Contract Value of ~$2.5 million. The Bills and Payments (“XBP”) deal is part of ITPS, Exela’s largest accounting segment.
The ÖBB project is a prime example of the breadth of solutions that Exela can provide. As part of this project, Exela will deploy its full digital payment platform capable of deciphering complex invoices across more than 13 languages and will employ artificial intelligence which optimizes and forecasts various payment solutions that are compatible with complex legacy accounting platforms.
“XBP is helping a number of customers regardless of where they are in their digital transformation. We are proud to align with ÖBB to help manage their Bills and Payments pain points. Our language and technology solutions including artificial intelligence are also compatible with legacy accounting systems bringing together the new and the old.” said Vitalie Robu, President of Exela EMEA.
The ÖBB Group started operating in 1923. Based on the Federal Railway Structure Act of 2003 (Bundesbahnstrukturgesetz 2003) one of the greatest Change Management processes ever in an Austrian business was successfully put on track. Today, the ÖBB Group employs a workforce of almost 42,000. Based on its new strategy it aims at positioning itself among the top European railways.
About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner
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