Exela Technologies is a business process outsourcing (BPO) and automation company that manages back-office operations for large enterprises, primarily in banking, healthcare, insurance, and the public sector. Exela handles transaction-heavy workflows that clients either cannot automate internally or prefer to outsource — including payment and invoice processing, healthcare claims management, digital mailroom services, and enterprise records management. Exela serves over 4,000 customers globally, including over 60% of the Fortune 100, and operates through three segments: Information and Transaction Processing Solutions (ITPS, ~69% of revenue), Healthcare Solutions (~24%), and Legal & Loss Prevention Services (~8%). Exela charges customers primarily on a per-transaction basis, with additional revenue from software licensing and time-and-materials billing. Revenue is ~98% recurring, driven by long-term contracts with management-cited renewal rates of ~94%. The cost structure is heavily labor-intensive — Exela employs ~14,100 people, many embedded at ~2,490 customer sites — and a key management priority has been replacing manual labor with automation to improve margins. Exela's growth strategy focuses on cross-selling additional services to its existing customer base, expanding its XBP digital payments network, and building out AI and cloud capabilities through a new business unit, Reaktr.ai. The company carries a heavily leveraged balance sheet, and debt reduction has been the dominant capital allocation priority in recent years.