Wolters Kluwer and EY Canada Extend Strategic Alliance to Help Finance Teams Accelerate Digital Transformation

Rhea-AI Summary

Wolters Kluwer has announced an extension of its strategic alliance with EY, now including EY Canada. This collaboration will implement the CCH Tagetik Corporate Performance Management (CPM) solution to help clients streamline financial processes and regulatory compliance.

The CCH Tagetik solution enhances financial transformations by providing integrated planning services. It aims to improve productivity and reduce financial close times. EY Canada expects further market expansion for CCH Tagetik technology throughout 2023.

Wolters Kluwer reported €4.6 billion in 2020 revenues and is committed to enhancing global business efficiency.

Positive

• Strategic alliance expansion with EY Canada enhances market reach.
• CCH Tagetik solution expected to improve client financial process efficiency.
• Helps reduce financial close cycle time and improve decision-making.

Negative

• None.

Wolters Kluwer CCH^® Tagetik Corporate Performance Management (CPM) solution to help EY Canada clients streamline financial close, consolidation, regulatory compliance and planning.

NEW YORK--(BUSINESS WIRE)-- Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced the extension of its strategic alliance with Ernst & Young LLP (EY) to a new global market: Canada.

In addition to EY’s operations in the United States, Italy and Belgium, EY Canada will now also utilize the Wolters Kluwer market-leading CCH Tagetik corporate performance management (CPM) solution to support and accelerate large financial transformations. EY expects to continue introducing the market-leading CCH Tagetik technology into additional global markets in 2023.

The alliance between EY and CCH Tagetik offers extensive support to companies implementing large financial transformations by providing a broad set of digitally enabled financial data and operational planning services on a single platform.

The award-winning CCH Tagetik solution provides an intuitive interface, built-in financial intelligence and automated workflows that go beyond traditional CPM solutions to empower finance teams, across industries, to:

• Complete everyday financial processes, faster, so teams can focus on strategic goals
• Address major financial regulations and simplify compliance processes
• Improve productivity and reduce financial close cycle time
• Make faster and better-informed financial decisions

Glen Wedel, Associate Partner, Business Consulting, EY Canada, said:

“Together with the Wolters Kluwer CCH Tagetik solution, EY Canada can bring more speed, agility and efficiency to our clients’ planning and reporting transformations. Through the integration of financial, strategic, and operational data, we will help our clients enable on-demand forecasting, agile scenario planning and truly integrated business planning.”

Ralf Gärtner, Senior Vice President & General Manager, Corporate Performance Management Solutions at Wolters Kluwer, said:

“The expansion of this strategic alliance enables us to combine the comprehensive CCH Tagetik platform with EY’s deep financial function expertise to support EY in its commitment to building a better working world by helping businesses drive growth, efficiency, and productivity. The continued maturation of our alliance with EY underscores the Wolters Kluwer commitment to advancing our clients’ global goals with our extensive portfolio of solutions and services.”

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

For more information, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers to the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117006113/en/

KELLY DE CASTRO

Wolters Kluwer Tax & Accounting

+1 614-288-5640

kelly.decastro@wolterskluwer.com

Source: Wolters Kluwer

FAQ

What is the significance of the Wolters Kluwer and EY Canada alliance?

The alliance aims to enhance financial transformations for clients in Canada using the CCH Tagetik solution.

How does the CCH Tagetik solution benefit EY Canada clients?

The solution streamlines financial processes, regulatory compliance, and improves productivity for clients.

What are the expected outcomes of the extended alliance in 2023?

EY Canada plans to further introduce CCH Tagetik technology across additional global markets.

What was Wolters Kluwer's revenue in 2020?

Wolters Kluwer reported annual revenues of €4.6 billion in 2020.

On which market is Wolters Kluwer listed?

Wolters Kluwer shares are listed on Euronext Amsterdam and traded as American Depositary Receipts (ADR) on the OTC market in the U.S. under the symbol WTKWY.