CorporateJuly 29, 2016

Wolters Kluwer 2016 half-year results: Customer success through expert solutions

On the occasion of the Wolters Kluwer 2016 half-year results, we’d like to highlight some recent progress with our expert solutions. 

Designing and delivering the right solutions to advance our customers’ work and professions is a cornerstone of our 2016-2018 corporate strategy of growing our value for all our stakeholders. And our company values help guide the way.

Focusing on customer success

Our four company values are fundamental to our organization. They guide our behaviors, and communicate to our customers what they can expect from us. ‘Focus on customer success’ is one of those values. A healthy part of that focus goes into building a deep understanding of the challenges our customers face in their professions and industries.

As Nancy McKinstry, Wolters Kluwer CEO said, “Customers are at the center of everything we do. Every day, we learn about the challenges they face. By analyzing their needs, we are able to provide them with solutions that support them best. The solutions we build help experts to be right.”

Let’s take a look at just a few of those needs—and our solutions that meet them.

Mazimizing customers’ investments

One of today’s biggest challenges in healthcare is for institutions to efficiently share and use data across clinical care processes, business functions, and systems. The sheer volume and variety of clinical terminologies used today creates communications barriers to both coordinating care and aggregating and analysing data. To solve this challenge, terminologies need to be aligned and governed at the enterprise level.

In February 2016, Wolters Kluwer announced the release of the Health Language® enterprise terminology management platform. This solution allows our customers’ organizations to significantly improve system integration, interoperability and data analysis. It helps healthcare organizations maximize investments made in data warehouses, analytics engines and population health management tools by standardizing and normalizing clinical, claims and administrative data from across disparate systems. Additionally, the platform can be leveraged by health information technology vendors top enhance and expand their product offerings. It is the most powerful platform of its type available in healthcare today.

The platform includes the LEAP (Language Engine Access Portal) map manager module. This particular tool supports advanced clinical decision support. It provides predictive analytics and quality reporting by allowing healthcare organizations to leverage clinical and claims data for more accurate and robust analysis and reporting.

Combining trusted data, workflow integration and the industry’s most powerful algorithms, this platform is truly an expert solution.

Growing our customers’ businesses

In the tax and accounting industry there are over 300 substantial trigger events each year within Australia alone. These events occur from case law, legislative changes, ATO (Australian Taxation Office) rulings & announcements and other macro-economic events. For many small and medium sized practices, these events are a major burden on resources and decision-making.

Launched earlier this year, CCH iQ helps transform the burden of trigger events into real business opportunities. Employing predictive intelligence, CCH iQ helps our Australian customers unlock the potential of their client database for business development opportunities, and offers them the opportunity to build more value added services by moving from retrospective compliance towards proactive advisory work.

It’s no wonder that this expert solution was also a winner in the Wolters Kluwer 2016 Global Innovation Awards in the ‘Greatest value to Customers’ category. Read more on the power of predictive intelligence.

Enabling strategic decision-making

Until recently, the majority of legal performance data available to law firms and corporate legal and insurance claims departments was drawn from surveys. However, basing strategic decisions on ‘opinions’ rather than facts renders strategic decision-making difficult at best.

Earlier this year, the company announced that it had processed more than $80 billion in legal invoices and that data is now available to harvest for customer insights via LegalVIEW®.

Offering unmatched depth and breadth of information, LegalVIEW provides benchmarking intelligence, predictive and analytical models, and insights to speed strategic decision-making for corporate legal and insurance claims departments, as well as law firms—all of which helps improve their business performance.

“Data-based decision making is changing the way corporate legal departments and law firms approach critical decisions, such as hiring outside counsel and staffing matters. Making decisions based on fact-based data from LegalVIEW's warehouse can help legal departments reduce budgets and more accurately predict for the future, while the warehouse's industry data and insights can help law firms become more competitive in today's changing legal market,” said Craig Raeburn, managing director, Wolters Kluwer TyMetrix Legal Analytics.

Re-envisioning the future of work

Given the rapidly evolving global business and tax environments, there is increased pressure on today’s tax attorney to deliver deeper and more actionable insights on the impact of the changing tax laws—as quickly as possible. Often our customers’ client relationships depend on it.

In May, Wolters Kluwer announced the launch of Cheetah for Tax Law in the United States. This expert solution is specifically designed to help legal tax professionals gain fast and accurate insights on today’s most challenging tax matters, as well as offering easy, seamless access from any web-enabled mobile device as well as desktops or laptops.

“Cheetah for Tax Law is designed to enable tax attorneys to get to the information and insights they need immediately, thereby dramatically increasing their effectiveness and enabling them to deliver the highest value per hour to clients” said Ben Snipes, Product Line Director, Taxation.

Dean Sonderegger, Vice President & General Manager, Legal Markets Group, added, “Cheetah for Tax Law is the first of our many upcoming offerings in this practice area… We will continue to add new capabilities and practice areas to this platform to help a new generation of attorneys re-envision the way they work.”

Expert solutions, expert support

Naturally, our ongoing commitment to our customers’ success extends to customer service. Earlier this year, the company announced that the global customer support teams for UpToDate®, Ovid® and Lippincott Williams & Wilkins (LWW) each received the NorthFace ScoreBoard AwardSM (NFSB) from Omega Management Group Corp.

This was quite a coup. Because of the unique ‘customer-only vote’ criteria, the Award is considered the only truly objective benchmark for excellence in customer service. Very few organisations worldwide made the grade.

As Diana Nole, CEO, Wolters Kluwer Health, said, “To be among just 37 organizations worldwide to be recognized by Omega for our world-class customer service—and to have done so for five consecutive years—is testament to the dedication of our customer support experts and their commitment to exceeding customer expectations at every touchpoint.”

When it comes to focusing on customer success, it appears the company is indeed in good shape. As Nancy McKinstry, Wolters Kluwer CEO, said in the 2016 half-year results, ‘We are continuing to see positive response to the innovative expert solutions we are bringing to market. I am confident in our full year outlook.’