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Xerox Buys Software Firm CVG; Mark Brennan Comments

XeroxLogoXerox (NYSE: XRX) has acquired Customer Value Group, a provider of cloud-based accounts receivable and customer relationship management software.

Xerox will add to its financial process outsourcing services CVG’s Value+ cloud application that works to unify AR and customer service operations, the company said July 2.

Mark Brennan, Xerox group president for finance, accounting and procurement services, said Xerox aims for Value+ to fulfill various business model requirements and expand the company’s offerings.

CVG built the software-as-a-service application to help manage credits, collections and disputes, and provide a centralized view of operations and reports.

CVG, a U.K.-based company that serves Fortune 500 firms in eight countries,  will continue to run its London office and retain its management team and employees following the acquisition.

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