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Wolters Kluwer Fourth Quarter Equipment Lease Finance Digital Transformation Index Shows More Growth

Posted 02/21/2024

Continued digital adoption reflects the overall sector’s strength in finishing out the year for business goods and financing activity 

NEW YORK – February 21, 2024 –Wolters Kluwer, a global leader in professional information, software solutions and services, announced today new fourth quarter analysis from its Equipment Lease Finance Digital Transformation Index, a key resource that tracks the rate at which equipment lessors and service providers are seeing growth in the evolution from paper-based finance back-office processes to digital. Click here to see the complete data report

According to the Index, the rate of adoption for digital contracting has increased by 22% over the last four years. The fourth quarter digital adoption rate was up 3% compared with the same time previous year.  

According to recent media reports, new orders for U.S.-made goods increased more than expected in November amid a surge in demand for civilian aircraft, government data showed recently. Factory orders rose 2.6% after declining by 3.4% in October, the Commerce Department's Census Bureau said. Economists polled by Reuters had forecast orders would rebound by 2.1%. Orders climbed 0.7% on a year-on-year basis in November. Manufacturing, which accounts for 10.3% of the economy, is being constrained by high interest rates. 

The Equipment Leasing & Finance Foundation released its January 2024 Monthly Confidence Index for the Equipment Finance Industry(MCI-EFI), which shows an assessment of the prevailing business conditions and expectations for the future according to business leaders from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 48.6, an increase from the December index of 42.5. 

"As we witnessed the sustained strength in business orders and heightened demand for equipment financing toward the end of the year, it is evident that our commitment to innovation and adaptability is paying dividends,” said Tim Yalich, Head of Motor Vehicle Strategy for Wolters Kluwer. “Embracing digitized contracting strategies has played a pivotal role in navigating these dynamic times. This not only enhances efficiency but also positions companies at the forefront of a rapidly evolving business landscape. We remain committed in our dedication to meeting the evolving needs of our clients and ensuring the continued strength of their business operations." 

To learn more and to access additional data insights from the Wolters Kluwer Equipment Lease Finance Digital Transformation Index, click here

About Wolters Kluwer 

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

Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.  

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


Justin Baronoff
Wolters Kluwer
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