Xerox to deploy Verizon Network as a Service Solutions framework for IT modernization
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The strategic partnership between Xerox Holdings Corporation and Verizon Business represents a significant move towards optimizing Xerox's operational capabilities. The adoption of Verizon’s Network as a Service (NaaS) Solutions by Xerox is indicative of the growing trend towards digital transformation and the reliance on scalable network infrastructure in the corporate world.
From a market perspective, this collaboration is likely to enhance Xerox's competitive edge by improving its IT efficiency and enabling faster response to market changes. The shift towards a subscription-based consumption model for network services could also reflect positively on Xerox's financials by reducing capital expenditures and potentially improving cash flow management. Such operational agility is increasingly important in a landscape where businesses are looking to pivot quickly and efficiently in response to dynamic market demands.
Financially, the transition to a subscription-based model for essential services like networking can be a double-edged sword. While it reduces the immediate burden of capital investment, it introduces a fixed operational cost that will persist over time. For Xerox, a company known for its printing and digital document products and services, this move could signal a strategic reallocation of resources towards innovation and growth areas, particularly as the company navigates the challenges of a hybrid workplace and distributed workforce.
Investors should monitor the impact of this partnership on Xerox's operating margins and cost structure. The long-term financial benefits will depend on how effectively the company leverages this new infrastructure to drive efficiencies and whether these savings outweigh the ongoing subscription costs.
The technical aspects of this deal are centered around Verizon's NaaS offering, which includes advanced Secure Access Service Edge (SASE) and principles of Zero Trust security. For Xerox, implementing such a modern network infrastructure is crucial as it underpins not just internal operations but also the services delivered to clients. The ability to dynamically scale network resources aligns with the demands of modern business environments that require robust and flexible IT systems.
Zero Trust and SASE are important cybersecurity concepts in today's landscape, where traditional network perimeters have dissolved. By adopting these principles, Xerox is positioning itself to better manage the security risks associated with a distributed workforce. The technical benefits of such an approach include improved data protection, reduced risk of data breaches and a more resilient network capable of adapting to emerging threats.
NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Verizon Business today announced Xerox Holdings Corporation (NASDAQ: XRX) is adopting Verizon’s Network as a Service (NaaS) Solutions framework to accelerate the organization’s Reinvention and operating model evolution. With the flexibility to dynamically scale network resources, Xerox can create a more efficient IT environment and redirect resources toward innovation and growth.
“This collaboration with Xerox underscores our commitment to enabling our customers to thrive in the digital age,” said Massimo Peselli, CRO, Verizon Business. “Verizon’s intelligent network framework is designed to empower enterprises to embrace the future of network services, providing unparalleled flexibility and scalability. We look forward to supporting Xerox as they transform their IT infrastructure.”
Verizon NaaS Solutions provide a secure network platform solution to help organizations drive operational efficiencies and adapt at speed, with a range of pre-configured and managed services on a subscription-based consumption model. To help Xerox create a more efficient IT environment guided by the principles of Zero Trust for technology reinvestment, Verizon’s next-generation global network infrastructure will underpin business operations for Xerox—delivering network services to over 300 Xerox and Xerox Business locations globally.
“As part of our Reinvention, Xerox is committed to simplifying our systems to drive enterprise-wide efficiency and scalability to best serve our clients,” said Louie Pastor, Chief Transformation & Administrative Officer, Xerox. “Expanding our partnership and deploying Verizon’s NaaS as our global network infrastructure is a natural next step to staying at the forefront of innovation, while helping us drive efficiencies across all the geographies we serve.”
Delivering on the Zero Trust journey using Advanced SASE, Verizon Business will provide Xerox with internet connectivity and a full suite of managed services via NaaS Solutions, including Wide Area Network, Local Area Network and Wireless Local Area Network. Additional services include; Verizon Operational and Financial Governance, Contact Center Management, Network and Security Consulting Services and Verizon Maintenance across the Network utilizing Verizon Care.
Adopting a subscription-based model eliminates the need for substantial upfront investments in traditional networking infrastructure, providing flexibility for strategic resource allocation. With Verizon leading the company’s network transformation, Xerox will continue to prioritize delivering exceptional services to clients to address the productivity challenges of today’s hybrid workplace and distributed workforce.
Providing service in over 180 countries around the globe, Verizon’s global IP network includes long-haul, metro and submarine assets that carry IP, data, and voice traffic across more than 1 million route miles, enabling over 500,000+ network, hosting and security devices managed worldwide. Today’s announcement builds on the company’s network-as-a-service foundation and supports its private networks, mobile edge compute and business solutions vectors of growth.
Visit our site to learn more about how Verizon NaaS Solutions can help enterprises optimize resources, enhance performance and innovate for future growth.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of
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Media contact:
Erin Cheever
erin.dowling@verizon.com
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