NASDAQ: XELA

News Release Details

 

Exela Technologies Announces New Digital Mailroom Relationship with LPG, a Leading Debt Relief Law Firm

November 22, 2021

IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation leader, today announced a new Digital Mailroom (DMR) relationship with LPG, the nation’s leading debt relief law firm for individual consumers.

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 made accessible via a secure web-based portal, from anywhere at any time. The DMR platform leverages Intelligent Document Processing (IDP) to significantly improve efficiency and accelerate digital transformation.

“When working with original creditors, timeliness and compliance are of paramount importance,” noted Wes Thomas, CFO of LPG, “On a daily basis, we manage high volumes of legal correspondence on behalf of our clients, all of which requires swift action and tight quality control measures. Failing to respond to a legal summons, and/or missing / misplacing legal documentation, can severely impact business continuity and cost LPG and its clients millions of dollars.”

Solving this challenge using over 35 years of experience, DMR provides LPG with full chain of custody tracking to prove day and time of initial contact along with the scale to digitize high volumes of mail within hours of receipt. This allows LPG to address their clients’ needs in a transparent and timely manner with increased competency. 

“DMR is a useful product across multiple industries, but we think it is particularly attractive in the legal vertical as the volume of documents in multiple formats needs to be precisely formatted and sent to the appropriate parties. We are pleased to align with LPG and help them navigate the enormous volume of documents their business must manage,“ said Suresh Yannamani, President of Exela Technologies.

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About Litigation Practice Group

The Litigation Practice Group is a Law Firm that providing multiple legal services, including debt relief, bankruptcy, and civil and commercial litigation. The attorneys at the Litigation Practice Group have decades of experience in providing personalized service to all clients. The team follows high ethical standards and take individual and collective responsibility to ensure compliance on all service levels. As a full-service law firm, LPG is committed to assist with all legal needs in connection to resolving debt. Through the firm’s legal debt resolution program, the goal is to eliminate client debt and improve financial well-being by disputing and challenging creditors to provide documentation proving validity of the debt. Regardless of the client’s situation, the attorneys at the firm will take the appropriate legal action and fight for each client.

About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, with over 17,500 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com


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