WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Wolters Kluwer's Tim Yalich emphasizes the importance of eAsset management in the auto lending industry, highlighting a significant shift towards digital capabilities. Many retailers, however, remain hesitant, primarily due to concerns regarding the legality and management of electronically signed documents. Yalich asserts that simply storing documents electronically is inadequate; a comprehensive eAsset management system is crucial for ensuring compliance and maintain legal enforceability. He advocates for adopting advanced eVault solutions that not only store assets securely but also facilitate their assignment and transfer.

Yalich believes that a fully compliant digital loan experience is essential for auto lenders, enabling them to meet consumer demand while adhering to evolving regulations. Wolters Kluwer reported annual revenues of €5.5 billion in 2022, operating in over 180 countries with around 20,000 employees.

Wolters Kluwer has introduced the CCH Tagetik Global Minimum Tax solution to aid multinational companies in complying with the OECD Pillar Two regulations requiring a global minimum tax rate of 15% in 2024. This solution addresses the challenges of managing immense finance and tax data while ensuring compliance with new reporting obligations. It provides enhanced data management, automates tax processes, and aids CFOs in strategic planning through what-if analyses. With over 140 countries implementing these changes, the solution is vital for efficient tax strategy and corporate profitability.

On April 3, 2023, Wolters Kluwer Legal & Regulatory U.S. introduced the Bank Failures Toolkit, designed to assist corporate legal departments in managing the repercussions of bank failures. The toolkit provides essential resources to ensure minimal disruption to businesses, including a Guide to Bank Failures and various checklists for due diligence and transition processes. Recent studies suggest that 186 banks are at risk of failure, emphasizing the need for proactive measures. The toolkit aims to facilitate smooth transitions to FDIC-managed banks, protecting business continuity amidst banking crises.

Wolters Kluwer announces that its CCH® Tagetik expert solution has maintained its position as a leader in the BARC Score Financial Performance Management (FPM) Report for six consecutive years, both globally and in the DACH region (Germany, Austria, Switzerland). The BARC Score evaluates FPM solution providers based on customer feedback and various performance metrics. Analysts noted high customer satisfaction with CCH Tagetik, particularly in areas such as price-to-value and ease of use. The report emphasizes the solution's capabilities for financial consolidation, planning, and regulatory compliance, making it suitable for mid-sized and large companies.

Wolters Kluwer has received a rating upgrade from Moody's Investors Service, increasing its senior unsecured ratings to A3 from Baa1.

The upgrade reflects the company's strong operating performance, credit metrics, and improved business profile, demonstrating resilience to economic cycles.

In 2022, Wolters Kluwer reported 6.2% organic revenue growth, improving from 5.7% in 2021. The outlook remains stable, with expectations of solid operating performance and continued positive revenue growth.

The 2022 annual revenue was reported at €5.5 billion.

Wolters Kluwer CT Corporation has released the 2023 edition of its guide, “Delaware’s Business Entity Laws,” detailing key updates to Delaware's corporation laws and annual taxes. This reference is crucial for corporations and LLCs considering Delaware for formation due to its favorable legal framework. The guide highlights recent changes in the General Corporation Law and the Limited Liability Company Act. Additionally, CT Corporation offers a “2023 Delaware Update” webinar for legal professionals, hosted by experts Alan Stachura and Dan Lias. With nearly 130 years in service, CT Corporation is trusted by over 75% of Fortune 500 companies for compliance needs.