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5 Key Takeaways From Xerox's Q2 Earnings: From IT To Its HP Partnership

Xerox is breaking into IT Services as a way to make up revenue shortfalls as device sales continue to slow.

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Xerox Makes Its Foray Into IT

As unit sales slipped another 10 percent last quarter, Xerox is looking for new ways to make up revenue and sees IT services as an area to make that happen.

The company launched Project Own It as a way to reign in spending and demand accountability inside the firm, but while officials say Xerox is saving more money, revenue continues to slide.

Earlier this year, Xerox CEO John Visentin renamed the company’s Global Imaging Services branch Xerox Business Services or XBS, then eliminated about half of the offices, folding the remaining employees into larger satellite offices and core sites responsible for specific geographies.

Now Visentin said he wants to run IT services from those remaining 37 core sites. Three of them already offer IT services, and Xerox hopes to expand that to a third of them by the end of the year, with all of them offering IT by sometime in 2020.

Xerox is not the first print provider to look to IT services. Earlier this year, Konica Minolta unveiled its Worlplace Hub a combination server, copier which they hope to use to win IT spend, by connecting the device to their MSP, All Covered.

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