WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Wolters Kluwer ELM Solutions highlights insights from its LegalVIEW database, which now exceeds $150 billion in invoices. The third LegalVIEW Insights report reveals that 56% of corporate legal departments see their top 10 legal matters making up 20-40% of spending. It emphasizes that many legal departments are underutilizing technology and managed services to control costs, with only 2.2% of megamatters being managed by alternative legal service providers. The report also links megamatter trends to total spend, underlining the importance of communication among stakeholders.

The HFS Research panel, featuring Sandeep Sacheti from Wolters Kluwer, will discuss how rising attrition rates are affecting technology and services leaders. The roundtable titled "The Great Resignation Debate: How Our Industry Can Survive the Great Talent Dearth" is scheduled for December 9 at 10 a.m. ET. Attrition rates have surged globally, reportedly ranging from 25% to 75%, presenting challenges in retaining talent. The discussion will cover employee flexibility, wage inflation, and the impact of talent drain on process automation goals.

Wolters Kluwer Tax & Accounting addresses the tax implications of creating and investing in non-fungible tokens (NFTs), noting that the IRS has not yet provided specific guidance. The sale of NFTs can lead to ordinary income for creators, while investors may face capital gains tax on sales. NFTs are treated differently from cryptocurrencies, particularly regarding collectibles and losses. The volatility of NFTs adds unpredictability to potential gains or losses. Tax reporting requirements may also apply under the Infrastructure Investment and Jobs Act.

Wolters Kluwer Tax & Accounting has announced its inaugural CCH® Innovations Conference taking place on December 7, 2021. This virtual event is designed for tax, accounting, and audit practitioners, aimed at enhancing digital transformation across the industry. Attendees will have access to keynotes from renowned speakers, including IRS Commissioner Charles Rettig, and will earn up to 6 CPE credits through expert-led sessions. The conference will address challenges posed by rapid technological advancements and provide insights into innovative practices for the upcoming tax season.

Wolters Kluwer announced the completion of its divestment of its U.S. legal education business to Transom Capital Group as of December 1, 2021. Following this sale, the company will utilize the post-tax proceeds for share repurchases to offset expected earnings per share dilution. A third-party mandate has been granted to execute €60 million in share buybacks, pushing total repurchases for 2021 to €410 million. Wolters Kluwer reported €4.6 billion in 2020 revenues and operates in over 40 countries.

Wolters Kluwer, Health has partnered with Phoebe Putney Health System in Georgia to implement the POC Advisor™. This AI-supported tool enhances early detection of sepsis at three hospital sites, enabling quicker interventions. The POC Advisor utilizes real-time natural language processing to analyze patient data, aiming to improve outcomes by identifying sepsis sooner than traditional methods. With dedicated sepsis coordinators overseeing the process, the technology promotes standardized care and educational resources, ultimately striving to reduce patient deterioration and improve clinical decision-making.