The penny stock XELA is moving higher on press releases over the last month touting new and renewed contracts with big corporations and even Medicaid programs.
Exela Renews Long Standing Relationship with Leading Consulting Firm
IRVING, Texas, Jan. 25, 2022 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) today announced a renewal of its services contract with a leading consulting firm. The renewal reaffirms a 20-year relationship. Exela is committed to continuous innovation and rapid response to the ever-changing work environment to enable our customers to operate without disruption. The total contract value is over $35 million. Digital Mailroom (“DMR) and Exela’s Intelligent lockers are a component of the broader suite of solutions provided to the customer.
During the initial stages of COVID-19, Exela rapidly deployed its proprietary DMR solution by redirecting all customer mail to one of its processing centers and allowing the customer’s staff to receive their mail electronically from anywhere. The solution enabled a smoother remote working transition for a large number of the customer’s global employee base and currently accounts for more than 90,000 users. Coupled with Exela’s Intelligent Lockers, Exela is also providing a flexible way for the customer’s agile workforce to receive and exchange packages, including IT laptop exchanges.
Exela’s DMR is an end-to-end document management system that digitizes mail and other documents to create searchable, shareable digital assets that can be automatically routed to individual or group recipients, fully tracked, and accessible via a secure web-based portal anywhere at any time. The DMR platform also leverages Intelligent Document Processing to significantly improve efficiency and accelerate digital transformation.
“We are proud of our long-standing partnership and the expansion of our strategic DMR platform renewal,” said Suresh Yannamani, President of Exela, adding “we continue to see growing demand for our DMR platform in the SMB and enterprise customer segments.”
Exela Wins PCH Global Rollout for a National Leader in Post-Acute Healthcare
On January 21, 2022, Exela Technologies, Inc. (NASDAQ: XELA) announced a new relationship with a national leader in post-acute healthcare focusing on home healthcare, hospice and personal care. The initial scope of the PCH Global rollout will deliver data aggregation and reporting to drive easier access to personalized high-quality care for patients and their families.
Exela continues to invest in expanding PCH Global’s capabilities to provide a cloud hosted solution with one of the best edit resolutions for healthcare claims. This marks another milestone in the value proposition of the PCH Global platform to digitally connect members, providers and insurance companies to enable clean claims, payment transparency and digital appeals. PCH Global’s cloud network offers increased scalability, the highest uptime and best business continuity protections. PCH Global has robust data analytics which are continually improving as Exela processes more and more data. Additionally, PCH Global’s improved data analytics can be accessed via a self-service model.
“This new relationship highlights the breadth of expertise within our healthcare solutions that can cater to every facet of the complex global healthcare landscape,” said Suresh Yannamani, President of Exela. Adding “we look forward to expanding our PCH Global services to drive high quality outcomes for all of our customers.”
Exela Technologies Expands Partnership with Global Bank
On January 20, 2022, Exela Technologies (NASDAQ: XELA) announced Exela has expanded a contract with a top global bank. Exela has augmented the service offering to the bank which currently includes payment clearing, case management, payment fraud detection and mortgage payments. The expansion includes foreign payment processing, which is subject to complex international rules and regulations.
“Payment processing, especially foreign payments, requires a level of sophistication with respect to timing of payments and higher levels of security. We appreciate the bank’s confidence in our international payment solution,” noted, Vitalie Robu, President of EMEA.
Exela continues to expand this type of processing across a number of global banks as part of its XBP platform offering. The need for payment across the supply chain continues to evolve as businesses become more global.
Exela Expands Relationship with a Large Technology Services Provider for Medicaid Programs
On January 18, 2022, Exela Technologies (NASDAQ: XELA) announced it has augmented an existing relationship with a large technology services provider for several Medicaid programs across the nation. The initial component of the expansion is valued in excess of $2.5M.
This deployment builds on a 25-year partnership and leverages Exela’s PCH Global platform and expertise in delivering payment integrity, collections and revenue cycle management (RCM) solutions. PCH Global deployment will connect providers, Medicaid agencies and members to help drive clean claims and significantly reduce the need for retrospective collections.
Exela continues to invest in increasing PCH Global’s capabilities to provide a cloud hosted solution with one of the best edit resolutions for healthcare claims. This extension of deployment marks another milestone in the value proposition of the PCH Global platform to digitally connect members, providers and insurance companies to enable clean claims, payment transparency and digital appeals. PCH Global’s cloud network also offers increased scalability, the highest uptime and best business continuity protections. PCH Global has robust data analytics which are continually improving as Exela processes more and more data. Additionally, PCH Global’s improved data analytics can be accessed via a self-service model.
“We are proud of our long tenured partnership and this expansion is aligned to the ultimate goal of building stronger, healthier communities across the country,” said Suresh Yannamani, President of Exela. Adding “adoption of our PCH Global platform continues to address the healthcare industry’s goal to deliver the most efficient, cost effective and best healthcare to members.”
Exela Expands Mastercard Relationship in Europe
On January 12, 2022, Exela Technologies (NASDAQ: XELA) announced it has expanded an existing relationship with Mastercard in the EMEA region to support the automation of Giro payments and processing in Norway utilizing Exela’s XBP platform.
Exela will develop and deploy a new, innovative solution using optical/intelligent character reading to automate the content extraction of payment documents in the Brevgiro service in Norway. As part of this solution Exela will also provide automated signature verification of payment transactions. This solution will be used to process over 11 million Giro payments in Norway.
“We are proud to continue developing our partnership with Mastercard and look forward to servicing the entire Norwegian Giro payments market,” said Vitalie Robu, president of Exela EMEA, adding “this solution is part of our global XBP rollout.”
📺 Exela Technologies: Paving the way with Innovation and Technology
📉 XELA Stock Technical Analysis
Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. XELA is one of the lesser performing stocks in the IT Services industry. 82% of 150 stocks in the same industry do better. XELA is currently trading near the lower end of its 52-week range, which is not a good sign. XELA is lagging the S&P500 Index which is trading in the middle of its 52-week range. Volume is considerably higher in the last couple of days.
The technical rating of XELA is bad and it also does not present a quality setup at the moment. XELA stock has a Setup Rating of 2 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when XELA stock consolidates and has a Setup Rating of 8 or higher.