Wolters Kluwer provides organizations around the globe with professional solutions for information management and software. Serving a wide range of corporate and SME clients — including clinicians, accountants, lawyers, and financial professionals — the company strives to deliver deep impacts to each client’s decision-making powers. With customers in more than 180 countries, Wolters Kluwer has a worldwide influence on organizational productivity.
The challenge of transitioning to the cloud
Prior to partnering with Powens, Wolters Kluwer was already on track to transition to a new cloud platform. This change was an effort to boost productivity in three main areas: account aggregation, statement accounting, and reconciliation.
Despite already having a cloud solution in place with their platform provider at the time, Wolters Kluwer recognized the need for a more advanced and comprehensive service.
“It’s true that we already had a solution on our current platform at that time, but we wanted to go one step further. We wanted to move to a real-time model, a cloud-based accounting model, with greater connectivity. And so the need arose to have a partner that would help us on this journey, because ultimately, we are aware of our area of expertise. But account aggregation is a business in itself. It’s a business that requires a specialized partner and we don’t have that specialization.” — Manel Peralta, Product Strategy Director at Wolters Kluwer Tax Accounting Spain.
For Wolters Kluwer, the true challenge was finding the right specialized provider that aligned with Spanish regulations and offered simple integration capabilities.
Ideally, the new solution Wolters Kluwer adopted would enable the company to better support enhanced productivity in bank reconciliations and accounting information. Specifically, the company needed a partner aligned with the current PSD2 directive.
Wolters Kluwer reaches out to Powens
In the search for the ideal solution, Wolters Kluwer focused heavily on the ease of integration factors for cloud solutions — leading the company’s team straight to Powens (formerly Unnax).
“Cloud connectivity was really important for us. It’s also true that when we reached out to Unnax (Powens), the catalog of services that they could offer to us beyond aggregation itself was important to us. And it was also relevant for us to see that trajectory, that partnership journey that would allow us to offer more and better solutions to our clients by leveraging the services that they could offer us.”
While Powens could provide all the ease-of-integration Wolters Kluwer needed, what ultimately stood out was Powens’ ability to maintain an evolving professional relationship that continuously provided value to the company. Through this partnership, Wolters Kluwer opened many new pathways to improve their own catalog of services on top of those offered by Unnax.
With Powens, Wolters Kluwer achieved a 60% increase in productivity
After implementing Powens’ solution, Wolters Kluwer saw a plethora of measurable improvements.
For statement accounting, circuit efficiency was increased significantly. Wolters Kluwer saw improvements of 60% to 70% in accounting times. As for banking aggregation, Powens helped Wolters Kluwer achieve improvements of up to 50% to 60%.
This continuing partnership is driven by three key factors of Powens — the high level of expert specialization provided, the comprehensive compliance support with both national and European legislation, and the ever-improving relationship model.
“At the business level, our contact persons within Unnax (Powens) are also extremely focused on our growth. Also, we can see that Unnax (Powens) is growing and all this confirms that it was the right decision. We would recommend the Unnax solution to other companies, above all because of its level of expertise.”
