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New research showcases Wolters Kluwer’s expert solutions journey

By: via Business Wire

The working paper by MIT CISR explores Wolters Kluwer’s transformation from publisher to global expert solutions provider

Researchers from the Massachusetts Institute of Technology Center for Information Systems Research (MIT CISR) have published “Wolters Kluwer’s Expert Solutions Journey,” a paper that explores through the lens of one of its five divisions the company’s transformation—primarily via its concerted use of data, analytics and artificial intelligence technologies—to evolve from its longstanding role as publisher of professional journals into a global, expert solutions provider. The paper cites the instrumental role that Wolters Kluwer CEO and Chair of the Executive Board Nancy McKinstry has played in championing the company’s digital transformation through the implementation of an expert solutions strategy, which today accounts for 59 percent of total revenues.

According to the paper, Wolters Kluwer defines expert solutions as offerings “that combine deep domain knowledge with technology to deliver both content and workflow automation to drive improved outcomes and productivity for our customers" and cites their development to be a key part of the company’s successful strategy.

“The Wolters Kluwer Financial & Corporate Compliance division exemplifies how the company was able to capitalize on digital business opportunities by leveraging its experience in content and service delivery,” writes Barbara H. Wixom, Principal Research Scientist, MIT CISR.

The research demonstrates how Wolters Kluwer’s transformation from publisher to global provider of professional information, software solutions, and services coincided with McKinstry taking the reins in 2003. Under her leadership, Wolters Kluwer leveled its focus on the standardization and consolidation of its many business services after having grown significantly through acquisitions over the previous 10 years. Next, the paper notes the company began investing 8-10% of revenues back into new and enhanced product development. By the early 2010s, it adopted an enterprise-wide strategy to develop and deliver expert solutions.

These developments led the Financial & Corporate Compliance (FCC) division to form a group in 2012 known today as Operations & Decision Science. The researchers found this group was established to support the division’s fulfillment and content operations; collect and analyze customer and market insights; and use data, analytics, and later artificial intelligence to drive revenue growth.

“The establishment of Operations & Decision Science brought like-minded professionals in the division together across design, data, and fulfillment and regulatory compliance operations,” says Abhishek Mittal, Vice President, Operations & Decision Science, Financial & Corporate Compliance. “This allowed us to more easily harness this expertise and use it to add value across the FCC division.”

The Operations & Decision Science group, in partnership with its FCC business partners and Wolters Kluwer’s Global Business Services and Digital eXperience Group, has been instrumental in helping the FCC division strengthen its fulfillment and content operations, adopt new technologies, and bring expert solutions to market. Some highlights of this work featured in the paper include:

  • Service of Process (SOP) Transformation: This work addressed the complexities of manually processing millions of legal notices, enabling FCC operators to efficiently process these notices and generate transmittal documents for customers.
  • Implementation of AI: The FCC division used various machine learning algorithms and natural language processing techniques to improve operational outcomes as well as develop new products like OneSumX® ProViso, a solution to help financial institutions develop, maintain and prove compliance with legal obligations to U.S. federal and state regulators.
  • Adoption of Generative AI (GenAI): The FCC division has embraced the technology to develop solutions that support internal processes like a tool for drafting summaries of new laws and regulations to customer solutions like iLien Borrower Analytics, an AI-powered offering that helps lenders streamline the associated processes of lien search and due diligence when onboarding borrowers.

Learn more about this work and how the FCC division has helped Wolters Kluwer on its expert solutions journey in MIT CISR’s paper “Wolters Kluwer’s Expert Solutions Journey.”

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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

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