Exela Technologies Continues Velocity of DMR and DrySign Growth in Q4
IRVING, Texas, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation (“BPA”) leader, today announced that its Digital Mailroom (“DMR”) and DrySign® offerings within the Digital Assets Group (“DAG”) delivered another strong quarter of new customers and users in the fourth quarter of 2021. DMR achieved customer growth of 44% while DrySign user growth reached 135% against prior quarter.
DrySign had a particularly strong quarter as the uptake in SMBs and individual users accelerated to exceed internal estimates. Growth also accelerated across new geographies and the company is positioned for further expansion into the two largest markets in the EU, France and Germany, this quarter.
During Q4 2021, Exela launched Remote Notarization (“RON”), an online notarization solution. While RON works as a standalone product, it also integrates with DMR and DrySign. The Company continues to onboard notaries daily for RON.
“We are very encouraged by the growth trends in our digital assets group. Enterprise and SMB customers alike continue to embrace DMR and DrySign as the world continues to adapt to a highly remote, online way of operating. We look forward to seeing the benefit of network effects as user growth continues to accelerate,” said Exela’s president, Suresh Yannamani.
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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 over 17,500 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.
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