“Digital Printing is Experiencing Robust Growth in Saudi Arabia”

Exclusive Interview with Steven Bandrowczak, Chief Executive Officer of Xerox Holdings Corporation

Xerox Holdings Corporation‘s CEO, Steven Bandrowczak recently visited Saudi Arabia for the first time since assuming the role of CEO in 2022. ME Printer caught up with Steve during his landmark visit to find out more about Xerox’s strategic vision for the Kingdom.

Is this your first visit to Saudi Arabia? What were the reasons behind this visit?

This is my first time visiting Saudi Arabia, and I hope to deepen the Xerox relationship with private and governmental organizations as the country continues its unprecedented growth path, fueled by the Saudi Vision 2030 initiative. My goal is to learn more about the kingdom and explore avenues to better serve this market and contribute to its goals for a better future.

How important is the Middle East market, particularly Saudi Arabia, for Xerox’s global operations?

Digital printing is experiencing robust growth in Saudi Arabia, making it a perfect environment for investments in managed print services. We’re making key investments in Saudi, such as the opening of a new office with our partners. As the Middle East looks toward increased digital transformation and diversification, we plan to introduce localized solutions that support these objectives and the region’s growth initiatives.

We are living in the age of disruption, businesses all over the world are going through rapid transformation, and Saudi Arabia is fully committed to this transformation, what are your plans to be relevant during next decade in a changing world?

We are implementing the next phase of our Reinvention and continuing to differentiate Xerox as the leading provider of workplace solutions. I’m excited about the future as we further our journey to enable a services-led, software-enabled approach primed for long-term, profitable success. Additionally, our recent partnership with Aston Martin ARAMCO Formula One® Team exemplifies our commitment to continuous innovation, excellence and relevancy. By leveraging our expertise in managed print services, augmented reality, and marketing insights, we aim to enhance the team’s performance and efficiency while aligning our brand with one of the world’s fastest growing sports.

In line with Saudi Vision 2030, the country is expanding its healthcare services as well as implementing smart city projects while modernizing its educational sector. How is Xerox planning to position itself as a key technology partner for these thriving industries?

Xerox has decades of industry expertise helping organizations across verticals achieve greater cost savings and increased efficiency. Paired with our deep industry knowledge, we can work as either a fully outsourced provider or in conjunction with existing IT teams to provide hardware, managed IT services and security solutions. Furthermore, we will provide the knowledge and services needed to achieve smooth digital transformation through secure document management and collaboration tools in the education sector.

What about sustainability?

Sustainability is a core part of our global strategy. Our Verified Carbon Neutrality Service is already making a difference by offsetting carbon emissions through reforestation projects. In Saudi Arabia, our channel partner, Saudi Xerox, extends its commitment to environmental responsibility through an innovative afforestation initiative. As a cornerstone of its carbon offsetting strategy, Saudi Xerox plans to plant trees on Abo Ali Island, situated near the Jubail Industrial area, directly addressing the carbon footprint generated by printing within its clients’ premises.

What are the key technology investments you plan to make in 2025?

As market demands evolve, Xerox remains agile and forward-thinking. In addition to leveraging our expertise in document management, workflow automation and intelligent document processing, we will continue our research and development investments in artificial intelligence, machine learning and augmented reality. We will also capitalize on momentum from our recent strategic acquisition of IT savvy and proposed acquisition of Lexmark to enhance our IT solutions capabilities and core print portfolio. Our focus is on creating cutting-edge solutions that will redefine workplace productivity, security and efficiency, ensuring Xerox remains at the forefront of technological innovation.

What impact do you expect AI to have on the business you and your partners do together in 2025?

AI is revolutionizing the way we work, and while most companies recognize the importance of seamless human and AI interaction, many understand the need for a trusted partner to navigate this new landscape. Xerox, with its rich history in providing document workflow solutions, deeply understands our clients’ workplace needs and process pain points. Leveraging this extensive knowledge, we are driving AI innovations both internally and externally across various verticals. Our focus includes automating routine tasks, enhancing remote sensing and monitoring, and simplifying complex supply chains to help clients optimize their business processes. In 2025, Xerox and our partners have a unique opportunity to harness AI to transform workplace productivity, enabling our clients to achieve unprecedented success.

What do you see as the toughest challenges facing customers in 2025?

Complexity is the enemy of performance – and work is only getting more complex. The hybrid workplace has created an increasingly distressed, distributed workforce. On top of this are the added pressures of rising data costs, unpredictable supply chains and growing concerns over cybercrime and sustainability. At Xerox, we’ve provided a one-stop shop for scalable IT solutions, services and print offerings to help our clients address these challenges by securely increasing productivity wherever work occurs.

What is the key to success for your channel partners in 2025?

Client-centricity is the cornerstone of success for Xerox and our channel partners. By prioritizing the client experience in every aspect of our strategic planning, partners can ensure that solutions are tailored to meet their evolving needs. This client-first approach enables us to deliver innovative solutions that foster high-performing, resilient workplaces, regardless of where clients operate. Our commitment to understanding and addressing our clients’ unique challenges is what drives our mutual success and sets us apart in the market. We are fully committed to building an ecosystem that supports our partners’ growth and success.

In 2023, Xerox donated the Palo Alto Research Center (PARC) to SRI International. PARC has been instrumental in shaping modern technology with breakthroughs like Ethernet, laser printing, and the graphical user interface. What led to this decision, and how do you view PARC’s legacy within Xerox’s broader journey?

For more than 50 years, PARC has been at the heart of some of the most important technological breakthroughs of our time. The goal of PARC has always been to incubate, launch and commercialize disruptive technologies. With PARC’s multi-disciplinary approach, it accumulated IP over a wide range of areas and much of its work at the time focused on deep tech, straying from Xerox’s business solutions and workplace technology focus. As Xerox strategically narrowed its focus on workplace technologies and driving client success, it was important that the work at PARC continued. With SRI’s rich history in academic excellence, it was the optimal partner for the next evolution of PARC.

Digital printing is currently experiencing double-digit growth globally. In the midst of this boom, Xerox made the decision to discontinue the iconic iGen digital press. Can you elaborate on the reasoning behind this decision? How does this align with your long-term strategy in the digital print market?

The decision to cease manufacturing the Xerox iGen 5 Press, a legacy platform that helped create the Production industry, was a necessary step in our Reinvention as we continue aligning with our clients’ changing needs and the commercial print market.

Each decision we make is made with our clients in mind. As we recognize shifts in the printing landscape, such as the decline in monochrome printing, we make informed decisions that will drive continued growth and future success. This equates to being the market leader in services-led, software-enabled solutions wrapped around best-in-class hardware to deliver increased productivity and improved profitability.

Recently, Xerox announced its intended acquisition of Lexmark, one of the largest 2D printermanufacturers in the world. While companies like Canon and HP are scaling back their investments in this market, what motivated Xerox to go ahead with this transaction? What opportunities do you see in the 2D printing space that others might be missing?

Combining Xerox and Lexmark will create greater balance within our core print business, expand our market reach and share, and position the company for long-term profitable growth, further supporting our Reinvention. The proposed acquisition brings together our complementary portfolios, ultimately strengthening the Xerox print and managed print services portfolio. This includes the large, growing A4 color market and extends our market reach into the Asia Pacific region. Our proposed acquisition of Lexmark reinforces our commitment to lead digital print transformation by streamlining operations and driving efficiencies in the hybrid workplace. Together, we will provide a more complete set of print and print services offerings, which will improve client attach rates, thus allowing us to introduce more of our emerging Digital Services and IT solutions to a larger group of existing clients. Both categories address large, growing total addressable markets and are expected to be strong contributors to our revenue trajectory post-acquisition. We anticipate an enhanced portfolio of offerings, new distribution partners, and broader end-market exposure will lead to additional services growth opportunities.

About Xerox Holdings Corporation (NASDAQ: XRX)

For more than 100 years, Xerox has continually redefined the workplace experience.

Harnessing our leadership position in office and production print technology, we’ve expanded into software and services to sustainably power the hybrid workplace of today and tomorrow. Today, Xerox is continuing its legacy of innovation to deliver client-centric and digitally driven technology solutions and meet the needs of today’s global, distributed workforce. From the office to industrial environments, our differentiated business and technology offerings and financial services are essential workplace technology solutions that drive success for our clients.

Learn more at www.xerox.com and www.saudixerox.com to explore our commitment to diversity and inclusion.