Digital information services provider Wolters Kluwer aims to take the share of its digital solutions to 60 per cent of overall revenues in the country in the next three years, a top official said.

With the digital era taking over information services, the company’s digital offerings have seen rapid growth in India in the last four years, and now account for nearly 40 per cent of its overall India revenues, Shireesh Sahai, Chief Executive Officer, Wolters Kluwer India, told BusinessLine .

It may be recalled that Nancy McKinstry, the global CEO of Wolters Kluwer, had recently said that Wolters Kluwer has now become a totally digital business, with as much as 89 per cent of its revenues coming in from digital products and services. The Dutch multi-national provides expertise through its four verticals of tax and accounting; legal and regulatory; health; and Global Risk and Compliance (GRC).

In the coming years, GRC will receive enhanced focus in India, according to Shireesh. “We do see scope for providing compliance-related solutions to banks in India. Not for the top 50 banks, but for those ranked below them,” he said.

Shireesh said that Wolters Kluwer’s practice management software iFirm, for chartered accountancy firms, has seen good response, with 400 firms (each with an employee base of over 20) now using this product.

The software has helped CA firms in preventing revenue leakage, improving profitability and to enable digitisation.

“ iFirm, which is developed in India for the world, is a big hit. Our renewal rate is high. It has reached 80 per cent renewal rate,” said Sahai. By early next year, iFirm will come in the form of a mobile app, and such mobility will help on-the-move employees of CA firms.

Wolters Kluwer recently brought Kleos to India to provide practice management for law firms. This product is already successful in 12 European countries, according to Shireesh. “Its early days in India.We have acquired four customers for Kleos till date here,” he said. Wolters Kluwer recently launched a new product – GST online – which is expected to be a rich resource base for case laws around GST. “We already have a product for Direct Taxes, where you can refer to 90,000 judgements from High Courts and Supreme Court since 1930.We see similar thing happening to GST,” he said.

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