Exela Technologies Places in Gartner Magic Quadrant for Finance and Accounting Business Process Outsourcing

- Exela recognized for Completeness of Vision and Ability to Execute

IRVING, Texas, May 15, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, today announced that Exela has been positioned by Gartner as a Niche Player in the Magic Quadrant for Finance and Accounting Business Process Outsourcing for its offering, FAO Service Suite for the second year running. The Gartner research report evaluated 18 F&A service providers according to a uniform set of criteria, placing companies into four categories: Leaders, Visionaries, Niche Players and Challengers.

Exela’s product-led Finance and Accounting Service Suite is embedded with deep business analytics, helping finance leaders modernize and automate their end-to-end F&A functions. Exela’s F&A professionals serve over 3,400 global clients, across 15 industry verticals. 

“Organizations are looking to drive newer efficiency opportunities and are increasingly turning to their CFOs to reimagine the finance operating models. Exela’s FAO Solutions help CFOs strengthen their decision-making capabilities by allowing easier adoption of modernization, automation and analytical tools while navigating the global socio-economic landscape and talent shortages. At Exela, we believe this recognition reiterates our investment in expanding our FAO Services Suite to become the solution of choice for our customers,” said Suresh Yannamani, CEO Exela Technologies BPA.

Exela FAO Services suite incorporates big data, digitization, and modern technologies to transform how the financial services industry functions. The future of finance and accounting will be driven by automation, touchless transactions, minimized human interference, and decisions driven by data and insights.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.