To my fellow shareholders,
During 2021, we focused on our clients’ success and made significant progress across our business with improved execution, efficiency and better experiences for end users. From a financial perspective, amid the impacts of COVID and various government stimulus programs, we met or exceeded internal and external expectations.
We improved service-level performance, client retention and annual recurring revenue from new business sales — and we ensured our teams could work safely from anywhere to deliver the services people count on every day across the globe. Finally, we enhanced associate engagement, strengthened our diversity and inclusion initiatives and received recognition for our culture.
I’m proud to be partnered with a dedicated team of committed associates who work hard every day on behalf of our clients and one another. As demonstrated by our improved client satisfaction scores for the third consecutive year, the plan we outlined in 2020 is working.
This momentum enabled us to receive industry recognition, such as the 2021 American Business Awards® Gold Stevie® Award for Leading Through Digital Disruption; being named Leader in Cloud HR Transformation from NelsonHall; and Top 15 Service & Technology Provider Standout as well as Customer Experience Services Leader from ISG. In addition, we were named Supplier of the Year by General Motors and received Supplier Excellence recognition by Toyota Financial Services.
We focused on operational excellence through our “Every Client, Every Time” model.
We drove significant improvements in technology performance and uptime reliability while migrating 17 key data centers to state-of-the-art facilities with more proactive early warning systems and advanced monitoring. These efforts led to substantial increases in program, process and platform speed, thus enabling better service for end users.
We continued to update our solution capabilities with Cloud, AI and automation across our diverse portfolio, driving new levels of efficiency, process optimization and better experiences for our clients’ most important asset: their customers.
All of this was achieved while conducting business-as-usual operations, such as distributing over $50B in government pandemic stimulus payments and handling nearly 1.3 billion customer service interactions.
In 2021, we continued the focus on operational performance — leveraging shared services and workflow standardization across the enterprise to drive efficiencies and savings while optimizing the way we deliver.
We enhanced our leadership team with new talent while simplifying our operating structure to three core businesses late in 2021: Commercial, Government and Transportation. This included adding a dedicated focus on operational excellence where every interaction is an opportunity to exceed expectations.
Through a model of openness, inclusion and teamwork, we continued our journey to make Conduent an even better place to work. Conduent’s dedication to environmental, social and governance (ESG) responsibility remained an integral part of our long-term strategy. We advanced our ESG initiatives, both in our company practices and through our solutions. We published our CSR Report including the Sustainability Accounting Standards Board (SASB) framework and alignment with five of the United Nations’ Sustainable Development Goals (SDGs).
We also advanced our diversity and inclusion initiatives with increased participation in multiple Employee Impact Groups, fostering collaboration across our associate base. We were honored to be recognized in 2021 by Forbes as one of the Best Employers for Diversity and as a Best Place to Work for LGBTQ Equality and Diversity by the HRC Foundation and Comparably respectively. At Conduent, we are one team with one mission, and we work hard to ensure each of our team members feels they can be themselves and grow and thrive while making a difference.
Through hard work, we have fortified our foundation and we are stronger than ever. While we will sustain what we’ve built, it’s all about profitable growth, as shared in our prior year 2021 earnings call. And the core business is doing just that — growing.
Our clients will always be the center of our future and the focus of our strategy. We look forward to continuing our momentum in 2022 and into the future.
Chief Executive Officer