XELA Stock: Why The Price Surged

By Amit Chowdhry ● Oct 26, 2021
  • The stock price of Exela Technologies Inc (NASDAQ: XELA) increased by 51.33% yesterday. This is why it happened.

The stock price of Exela Technologies Inc (NASDAQ: XELA) – a global business process automation leader – increased by 51.33% yesterday. Investors are responding positively to the company announcing the Company’s Digital Mailroom (DMR) solution will fully enable remote employees working at home and in field offices to access data securely and quickly at one the largest franchisors. 

Initially, Exela is going to deploy DMR to remote working employees stationed near headquarters as part of phase one then expand to other personnel working in the home office. And eventually, all field offices will be able to access digital mail.

DMR is known as a user-configurable, end-to-end document management system that digitizes mail and other documents to create secure, searchable, shareable digital assets. And the platform also benefits from Exela’s proprietary classification technology, which allows enterprises to intelligently route mail based on type to the relevant recipient or department without having to implement complex distribution and routing rules. 

This provides enterprise customers with the ability to receive and action critical correspondence in a timely and relevant fashion and also enables security teams to monitor volume and type of communications received outside of the usual electronic channels. And in addition to business continuity, DMR provides a substantial opportunity for cost savings and efficiency gains.
KEY QUOTE:

“The ever-evolving hybrid work environment has been a catalyst to our DMR solution and demand continues to rise across both enterprise and SMB customers. DMR’s comprehensive feature set enabled us to sign one of the most recognizable logos on the globe.”

— Suresh Yannamani, President of Exela Technologies

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.