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Wolters Kluwer (WTKWY) is a global leader in digital knowledge solutions and cloud software for tax, finance, accounting, and legal professionals. With offerings like the SAP Document and Reporting Compliance solution integrated with the CCH SureTax solution, Wolters Kluwer helps multinational companies manage U.S. tax filing obligations efficiently. The company serves customers in over 180 countries and reported 2022 annual revenues of €5.5 billion.
Wolters Kluwer Compliance Solutions has been recognized as a Category Leader in Chartis Research's latest report, which evaluates the Model Risk Management vendor landscape. This accolade highlights their leadership in Model Governance Solutions, marking a significant evolution from the previous analysis in 2021. The report indicates a decline in vendor presence within this space, emphasizing the importance of robust models for organizational compliance and solvency. Wolters Kluwer's solutions, including OneSumX® for Compliance Program Management, are essential for effective model risk management. The company has also achieved top rankings in the 2023 Chartis RiskTech100® report, reinforcing its market position.
Wolters Kluwer has released a new article highlighting the upcoming reporting obligations under the U.S. Corporate Transparency Act (CTA), which will come into effect on January 1, 2024. This legislation mandates that businesses file initial Beneficial Ownership Information (BOI) reports with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). According to estimates, 32.6 million entities will need to comply in the first year alone, with substantial reporting requirements expected annually. The burdensome compliance process particularly affects small businesses, which are unlikely to qualify for exemptions. The article emphasizes that business owners and compliance officers should proactively prepare for these changes to avoid severe penalties for non-compliance.
Wolters Kluwer CT Corporation is hosting a virtual panel discussion on April 18 at 1 PM ET, titled “Attorney Roundtable: Due Diligence Trends”. The event will feature expert lawyers from firms like Parsons Behle & Latimer, Bryan Cave Leighton Paisner, and Mayer Brown. Key topics include the impact of recent updates to the Uniform Commercial Code (UCC) and analysis of the case 1944 Beach Boulevard, LLC v. Live Oak Banking Company. The discussion aims to provide insights into evolving due diligence practices in 2023. Dan Lias, a consultant for Wolters Kluwer, will moderate the session. The company has been a leader in compliance services for nearly 130 years, supporting over 350,000 small businesses and numerous Fortune 500 companies.
Wolters Kluwer Health will participate in HIMSS23 from April 17-21 in Chicago, focusing on how healthcare technology innovations can enhance patient care. Key discussions will include the collaboration with Microsoft to improve clinician search activities, the importance of patient perspectives in medical education, and leveraging voice technology in healthcare. Presentations will cover various topics, including clinical insights, patient engagement, and quality standards in healthcare.
The company reported annual revenues of €5.5 billion in 2022 and aims to use its expertise to support better health outcomes through technology.
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