The partnership with Taktiful aims to extend Xerox’s presence within the digital embellishment market
Xerox today announced its intent to form a new strategic partnership with Taktiful Software Solutions with the aim of extending its presence in the digital embellishment market.
According to the company, the new alliance will aim to leverage “Xerox’s industry-leading digital printing technology and expansive market reach, alongside Taktiful’s AI-powered digital embellishment solutions and focus on client-specific empowerment.”
The announcement comes after significant restructuring at Xerox in the first half of 2024. In January, Xerox revealed cuts of 15% to its workforce as part of a restructure that includes implementing a new organisational structure and operating model. According to Xerox’s annual report, the restructure would amount to around 2000 job cuts.
In Q2 results, released by Xerox on July 25th 2024, revenue was down by 10% in the period. Its gross profit was $520m (£439m), down 12.9% from $597m (£504m) in Q2 2023.
The endorsement of Taktiful’s AI-powered digital solutions is part of a growing trend within the industry of embracing AI technology. Quocirca, a key source of independent market insight for the printing industry, predicted that 56% of organisations plan to increase investment in AI and machine learning in 2024.
Kevin Abergel, founder and president of Taktiful, says: “By combining our strengths, we can drive the future of print enhancement, providing our clients with unparalleled tools to elevate their brand presence and operational efficiency.
“This collaboration goes beyond technology; it is making digital print embellishments more accessible and bringing them to a wider audience.”
Xerox will be taking part in the PRINTING United Expo 2024, taking place from September 10th to 12th at the Las Vegas Convention Center. Attendees will have the chance to explore the company’s range of digital print solutions, including the Xerox Iridesse and Versant 280 production presses.
