Xerox announces the creation of its CareAR software business

Norwalk, Connecticut.-. Xerox Holdings (NYSE: XRX) announced the establishment of CareAR, a Xerox company in which CareAR, Inc., DocuShare® and XMPie are grouped into an organization called CareAR Holdings Down. CareAR received a valuation of US$700 million after receiving a US$10 million investment in ServiceNow. ServiceNow is a leader in the field of digital workflows that can make processes better for people.

CareAR will be led by Steve Bandrowczak, President and Chief Operating Officer of Xerox, who will expand his current position while serving as President of CareAR, and Sam Waicberg, the original founder of CareAR, Inc., will serve as President of CareAR.

Now, combined with DocuShare’s content management system, XMPie cross-media platform and Xerox’s PARC Alto AI artificial intelligence engine, CareAR’s product portfolio will support employees through visualization tools and data access, and continue to provide service employees and end customers with a high-quality experience. At the same time reduce the operating costs and greenhouse gas emissions of these suppliers. CareAR® is based on the augmented reality technology Xerox acquired from the acquisition of CareAR, Inc. announced earlier this year. The technology is integrated with ServiceNow® field service management, enabling employees to leverage the knowledge of the most experienced technicians through real-time Teaching is assisted by augmented reality.

The CareAR platform is designed to be industry independent and seamlessly integrate with ServiceNow’s leading digital workflow system to ensure a comprehensive approach to work orders, cases and events; it also provides high-quality results for customers and service experiences in different industries. The company’s augmented reality technology is disruptive in the service delivery ecosystem and addresses the main challenges related to sustainability and people, including:

• Support employees with visualization tools and data access There is a need to consistently provide employees and end customers with a high-quality experience, while reducing service providers’ operating costs and greenhouse gas emissions.

• To help solve personnel issues, mainly Those related to retirement. With the ageing and retirement of today’s workforce, service organizations will no longer be able to rely on the learning-based training that has supported service businesses for decades. CareAR will help utilize and optimize the time of experienced employees and enable inexperienced employees to utilize the knowledge base managed by CareAR’s predictive artificial intelligence capabilities.

• Apolipoproteinyar serves the sustainability and social responsibility goals of entrepreneurs. CareAR facilitates remote maintenance and preventive measures, thereby reducing the dispatch of technicians during start-up and follow-up. Less transportation means fewer truck trips, thereby reducing the carbon emissions of the service organization. Well-informed employees make the workplace safer.

“Xerox has positioned CareAR to provide the functions required by service-intensive industries, through real-time instructions, visualization tools, and data access at any user’s fingertips, all of which are supported by predictive artificial intelligence,” Xerox vice president and chief executive Executive Officer John explained Vicentine. “By creating an intuitive platform for digitally-native employees, and through ServiceNow CareAR’s investment, CareAR will define and develop the service experience management category and revolutionize the industry when it is most needed.”

John Ball, Senior Vice President of Customer Workflow at ServiceNow, added: “Our customers have never so desperately needed workflow to provide higher operational efficiency, better customer results, environment and higher security.” “We The investment reflects our belief that CareAR has the potential to provide world-class enterprise-level augmented reality. Customers use CareAR’s augmented reality to guide operations, and through ServiceNow’s leading workflow platform, they can better solve problems remotely and speed up resolution time And reduce the need for expensive face-to-face visits, which also greatly reduces carbon emissions. Together, we will provide a powerful business service experience for the new world of work.”

Xerox obtained trading-related advice from Mizuho Securities and Willkie Farr & Gallagher LLP.

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