Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. Wolters Kluwer
  6. News
  7. Summary
    WKL   NL0000395903


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

New Wolters Kluwer survey of tax & accounting professionals identifies key underlying factors driving firm growth and profitability

11/22/2021 | 08:04am EST

Successful firms navigated the pandemic by accelerating digital transformation, by embracing new ways of working with clients, and by shifting away from compliance to higher-value advisory services

Today, Wolters Kluwer Tax & Accounting announced a new report with key findings from its annual survey of tax & accounting professionals – 2021 BEYOND LIMITS: The People, Processes and Technologies Driving High-Growth Accounting Firms. In its 15th year, this annual survey of the profession found that the global pandemic has accelerated the pace of digital transformation of firms and changed the way they work with clients.

“Firms face many challenges, from new compliance pressures and rapid pace of legislative change to greater competition for talent,” said Jason Marx, President and Chief Executive Officer, Wolters Kluwer Tax & Accounting North America. “Seeking continued growth, firms will need to go beyond traditional business practices and rethink their approaches to people, processes, and technology. It is through digital transformation that successful firms will be able to more rapidly adapt to the changing landscape, to transition faster to higher valued advisory roles, and to leverage those capabilities into a business advantage.”

Detailed findings from the 2021 BEYOND LIMITS: The People, Processes and Technologies Driving High-Growth Accounting Firms survey are available in this report. Some of the key findings fall into three main themes.

Rapid Change Has Become the Norm

The pace of legislative change has not slowed and keeping track of legislative changes posed a problem for more than 50% of surveyed firms. Despite these challenges, 36% of small firms and 45% of large firms reported this year’s tax season was somewhat or much better than last year.

  • 94% of large firms and 90% of small firms are looking to technology to help achieve an improved tax season

Move Beyond Tax Compliance Requires Empowered Staff

Forward-thinking firms are working to meet the evolving needs of clients. Expanding advisory and consulting services requires firms to move beyond a compliance mindset and empower professionals to make decisions and add value for clients. Recruiting and retaining the right staff has never been more critical for firm success; it’s also never been more difficult.

  • More than 60% of large firms are reporting that technology is helping with staff engagement and morale — two factors critical to retaining staff

High-growth Firms Are Moving Beyond Convention

As firms embraced digital transformation, new demands from clients and professionals required them to rethink approaches to process optimization.

  • 43% of surveyed firms indicated they are making moves to downgrade their brick-and-mortar presence and/or transition to a virtual-only presence
  • This year, most tax returns were prepared with no in-office contact with taxpayers. On the audit side, there was much less in-person interaction with clients, as well

About the 2021 Beyond Limits Survey

The “2021 BEYOND LIMITS: The People, Processes and Technologies Driving High-Growth Accounting Firms” survey was conducted by Wolters Kluwer in 2021 with a total of 839 professionals from tax and accounting firms. It covered a range of topics regarding current and future trends in the tax and accounting profession as well as current and future trends in tax and accounting technology.

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.

ę Business Wire 2021
All news about WOLTERS KLUWER
09:01aWolters Kluwer CT Corporation Podcast Navigates Evolving Corporate Transparency Act Req..
01/21Informa set to launch $1.6 billion sale of Citeline unit -sources
01/21Wolters Kluwer Compliance Solutions and Floify Announce Collaboration for eNote Digital..
01/21Wolters Kluwer Compliance Solutions and Floify Announce Collaboration for eNote Digital..
01/21With the 2022 tax filing season starting next week, taxpayers need to be aware of new c..
01/21Wolters Kluwer to Appoint New Supervisory Board Chair in April
01/21Wolters Kluwer appoints new Chair and new Vice-Chair of the Supervisory Board
01/21Wolters Kluwer Announces Changes in Supervisory Board
01/20MEDIA ALERT – With the 2022 tax filing season starting next week, taxpayers need ..
01/20WOLTERS KLUWER : N.V., - Share Buyback Transaction Details January 13 – 19, 2022
More news
Analyst Recommendations on WOLTERS KLUWER
More recommendations
Sales 2021 4 747 M 5 380 M 5 380 M
Net income 2021 727 M 824 M 824 M
Net Debt 2021 2 138 M 2 423 M 2 423 M
P/E ratio 2021 32,0x
Yield 2021 1,59%
Capitalization 22 475 M 25 427 M 25 472 M
EV / Sales 2021 5,19x
EV / Sales 2022 4,90x
Nbr of Employees 18 670
Free-Float -
Duration : Period :
Wolters Kluwer Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WOLTERS KLUWER
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Last Close Price 90,52 €
Average target price 91,78 €
Spread / Average Target 1,39%
EPS Revisions
Managers and Directors
Nancy McKinstry Chairman-Executive Board & Chief Executive Officer
Kevin B. Entricken Chief Financial Officer
Frans J. G. M. Cremers Chairman-Supervisory Board
Jeanette Horan Independent Member-Supervisory Board
Ann Elizabeth Ziegler Vice Chairman-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
WOLTERS KLUWER-12.63%26 540
S&P GLOBAL INC.-11.65%100 428
RELX PLC-5.75%59 207
MSCI INC.-18.26%41 291
EQUIFAX INC.-22.93%27 531