Pevita Pearce
Wolters Kluwer, a global leader in providing professional information, software solutions, and services, has announced the strategic appointment of Tomás Font as the new general manager of its Corporate Tax business. This move, situated within the company’s Corporate Performance & ESG division, signals a significant acceleration in Wolters Kluwer’s ambition to enhance its support for corporate tax departments and broaden its indirect tax offerings to a global clientele. The appointment follows a period of strategic expansion, notably the recent acquisition of Marosa, a prominent provider of VAT compliance and e-invoicing solutions, which has substantially bolstered Wolters Kluwer’s capabilities in the European market.
The corporate tax landscape is undergoing a profound transformation, driven by increasing digitalization, the proliferation of cross-border transactions, and evolving regulatory demands. Multinational corporations, in particular, are grappling with a complex web of tax requirements that necessitate sophisticated, integrated solutions. Wolters Kluwer’s strategic initiatives, including the integration of Marosa’s expertise and the planned development of VAT Determination capabilities, are designed to address these challenges head-on. This strategic push aims to establish a more comprehensive and cohesive indirect tax offering, complementing the company’s existing CCH SureTax U.S. sales and use tax solutions.
Maria Montenegro, CEO of Corporate Performance & ESG at Wolters Kluwer, emphasized the strategic importance of this appointment and the company’s evolving vision for its corporate tax operations. "As we build a more complete indirect tax offering for multinational customers, our ambition for this business has grown considerably," Montenegro stated. She highlighted Font’s extensive experience and proven track record within Wolters Kluwer, noting, "Tomás has led growth and transformation in the tax software market across geographies with Wolters Kluwer for nearly two decades. He is well positioned to lead Corporate Tax into this next chapter." This endorsement underscores the confidence within Wolters Kluwer regarding Font’s leadership capabilities and his suitability for steering the company through its next phase of growth and innovation in the corporate tax domain.
Leadership for the Next Phase of Corporate Tax Evolution
Tomás Font steps into his new role with a wealth of experience spanning 18 years at Wolters Kluwer. His most recent position as leader of the Tax & Accounting Europe South region provided him with deep insights into the complexities and opportunities within diverse European tax markets. During his tenure, Font has been instrumental in driving the growth of software businesses, spearheading significant digital transformation initiatives, and cultivating high-performing teams across various international markets. This extensive background equips him with a nuanced understanding of global tax dynamics and the technological advancements required to navigate them.
Font’s appointment is timely, as multinational corporations face unprecedented challenges in managing their tax obligations. The digital imperative in tax reporting, coupled with the intricate nature of cross-border taxation, demands agile and integrated solutions. "Large companies and multinational corporations face growing complexity as tax requirements become more digital and cross-border," Font commented. "Wolters Kluwer has an opportunity to simplify how customers manage these demands through a more connected, comprehensive, and modern approach to indirect tax. I look forward to working with our teams and customers as we build a stronger offering for the future." His vision aligns with the broader industry trend towards unified tax management platforms that can streamline compliance, reduce risk, and enhance strategic decision-making.
The strategic integration of Marosa represents a significant step in Wolters Kluwer’s journey to become a dominant player in the global indirect tax market. Marosa’s proficiency in VAT compliance and e-invoicing solutions, particularly in European jurisdictions with rapidly evolving e-invoicing mandates, directly addresses a critical need for multinational businesses operating across these regions. This acquisition not only expands Wolters Kluwer’s product portfolio but also brings specialized expertise and a strong customer base, thereby accelerating its market penetration. The planned development of VAT Determination capabilities further solidifies this commitment, aiming to provide automated, accurate, and compliant VAT calculation across a broad range of transactions.
Strategic Expansion and Market Dynamics
The global indirect tax market is characterized by its complexity and constant evolution. Value Added Tax (VAT) and Goods and Services Tax (GST) regulations vary significantly from country to country, creating substantial compliance burdens for businesses operating internationally. The increasing adoption of e-invoicing, driven by governments worldwide as a means to combat tax fraud and improve efficiency, adds another layer of complexity. Wolters Kluwer’s strategic investment in expanding its indirect tax capabilities is a direct response to these market trends.
According to recent industry reports, the global tax management software market is projected to grow substantially in the coming years. Factors such as increasing regulatory scrutiny, the growing volume of cross-border transactions, and the drive for digital transformation are key drivers of this growth. Specifically, the indirect tax segment is experiencing robust expansion as companies seek solutions to manage VAT, GST, and other consumption taxes more effectively. Wolters Kluwer’s proactive approach, marked by strategic acquisitions and product development, positions it to capture a significant share of this expanding market.
The integration of Marosa’s capabilities is a pivotal development. Marosa’s solutions are designed to handle the intricacies of VAT compliance, including tax determination, reporting, and e-invoicing. This aligns perfectly with Wolters Kluwer’s objective of offering end-to-end indirect tax management for multinational corporations. By combining Marosa’s specialized expertise with Wolters Kluwer’s established global reach and technological infrastructure, the company is poised to deliver a powerful and comprehensive suite of solutions. This integration is expected to be completed in phases, with a focus on seamless transition for existing Marosa clients and the phased rollout of enhanced services to Wolters Kluwer’s broader customer base.
A New Chapter for Corporate Tax Leadership
Tomás Font’s appointment marks a significant leadership transition within Wolters Kluwer’s Corporate Tax business. He succeeds Alberto de Benito Aznar, who has been appointed as the General Manager of Wolters Kluwer’s Audit & Assurance business, also within the Corporate Performance & ESG division. This internal transition signifies a strategic realignment of leadership talent to drive growth across different but related segments of the company’s offerings. The smooth handover and reassignment of experienced leaders like Aznar to new strategic roles underscore Wolters Kluwer’s commitment to internal development and cross-divisional synergy.
Font’s extensive experience in transforming and growing software businesses within the tax and accounting sector is seen as a critical asset for this new phase. His deep understanding of market dynamics, coupled with his leadership acumen, will be crucial in navigating the complex regulatory environments and technological shifts that define the modern corporate tax function. The company’s strategic direction, as articulated by Montenegro and Font, centers on creating a more connected and comprehensive approach to indirect tax, aiming to simplify tax management for multinational clients and foster greater compliance and strategic insight.
Implications and Future Outlook
The strategic initiatives undertaken by Wolters Kluwer, including the appointment of Tomás Font and the integration of Marosa, have several key implications for the corporate tax market. Firstly, it signals an increased competitive pressure on other providers of tax technology solutions, particularly those focusing on indirect tax compliance. Wolters Kluwer’s enhanced offering is likely to attract multinational corporations seeking a single, integrated platform for their global tax needs.
Secondly, the focus on digitalization and e-invoicing aligns with global regulatory trends. As more countries implement digital tax reporting requirements, companies that can offer compliant and efficient e-invoicing solutions will have a distinct advantage. Wolters Kluwer’s investment in this area positions it as a forward-thinking partner for businesses navigating this evolving landscape.
Thirdly, the expansion into the global indirect tax market represents a significant growth opportunity for Wolters Kluwer. By leveraging its existing relationships with multinational corporations and its expanded product suite, the company is well-positioned to increase its market share and revenue in this lucrative segment. The success of this strategy will depend on the effective integration of acquired technologies, the continued development of innovative solutions, and the ability to provide exceptional customer support across diverse regulatory environments.
The appointment of Tomás Font is a testament to Wolters Kluwer’s strategic vision and its commitment to empowering corporate tax departments with cutting-edge solutions. As multinational corporations continue to navigate an increasingly complex global tax environment, Wolters Kluwer’s enhanced capabilities and leadership are poised to play a vital role in helping them achieve compliance, mitigate risk, and drive strategic value. The coming years will likely see further innovation and market consolidation as companies like Wolters Kluwer continue to invest heavily in tax technology to meet the evolving needs of their clients.
