Xerox is undergoing a fundamental transition. The world’s leading document management company is increasingly focused on providing business services. In fact, more than half of Xerox’s revenue now comes from such services. Xerox’s “Ready for real business” message highlights its ability to help clients focus on what matters most. Currently, Xerox is pursuing a growth strategy behind its burgeoning services business while upholding its leadership in document technology, operational excellence, and acquisition. In 2011 alone, Xerox made five key acquisitions,helping spur their growth. Nonetheless, Xerox faces stiff competition from global consulting and IT brands, notably HP, IBM, Dell, and Accenture. The brand is very well known outside the US, a major advantage considering how powerful awareness and trust are when entering new markets. However, the strength of its previous positioning as “The Document Company,” and inconsistent messaging (particularly in its FujiXerox partnership), may slow the brand’s transition. The good news is that Xerox’s presence and profile position it favorably for small and mid-size clients, especially in developing markets. As only 11.3% of its revenue hails from outside the US and Europe, this presents a huge opportunity for Xerox.