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Sageworks Blog

Jul22

Why do banks maintain an unallocated reserve?

The unallocated reserve can play an important role in maintaining a financial institution’s overall reserve; however, it is, by nature, a rather subjective process. Unallocated reserves are the result of an adjustment to account for estimated credit losses which fall outside of the predefined qualitative factors and historic loss calculations. [More]

Jul21

Increasing interest in MBL

As credit unions continue to experience solid growth in traditional lending areas, many management teams are focusing attention on starting or expanding their member business lending program. Growing the business portfolio can provide a number of benefits for credit unions, including: [More]

Jul20

Why U.K. accountancy pros use ProfitCents

Accountancy professionals aim to have the expertise and tools to address customer needs, but this can be difficult, given the many demands on firms. That is why accountants in the U.K. who are looking to win new clients and increase engagements use ProfitCents, the leading solution for analysing small- and medium-sized enterprises.

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Jul19

How to make your employees’ salaries go further

In today’s competitive marketplace, it’s important to stand out. One of the ways that you can do that as an employer is to offer your employees an enticing wage. If you’re unable to pay as much as you would like, there are other ways to make your employees’ salaries go further.
Bailey McCann

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Jul18

Hot summer reads for accountants: Books and popular blog posts

We’ve compiled a list of our five most popular blog posts for accountants in 2014, so if you’re getting ready for some time off in the coming weeks, bookmark this page and revisit it when you’re ready to relax with a good article or book. Also below are links to five hot-off-the-presses books that can help you grow your accounting practice, manage it better or simply get a chuckle about it.

Image by Michael Coghlin via Flickr CC

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Jul16

How accountants can win new clients

Accounting firms oftentimes abandon a marketing plan for fear they don’t have the budget to successfully win new clients. This checklist will provide 9 steps to create a plan of action to win new clients at low-cost. [More]

Jul15

7 questions successful accountants ask during client meetings

It's important for accountants to have a list of key questions to use during client meetings to deepen relationships. This checklist can provide a wealth of benefits including better understanding of client challenges and highlighting opportunities to cross-sell accounting services. [More]

Jul14

Does your institution currently have an effective risk rating system?

During a banking industry webinar, Chuck Nwokocha, senior risk management consultant at Sageworks, discussed what is required to increase credit quality in a bank or credit union. And a requirement for those improvements is a working and effective risk rating system that is applied uniformly by different analysts at the institution.

Poll

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Jul12

How to use stress testing results to your advantage

As stress testing has increasingly become a focus of regulatory guidance, it is important to understand its purpose and methodologies, but also how to use the findings to your advantage. This post provides five ways to use stress testing results to benefit your bank or credit union. [More]

Jul11

Sageworks and Crowe Horwath to host webinar on ALLL model validation

Since the economic crisis, many institutions have revised existing models or implemented new models to more accurately estimate their ALLL. These models now need proper validation to ensure their accuracy, safety and soundness. Join Sageworks and Crowe Horwath on Friday, July 25th for a webinar detailing the supervisory guidance on model validation and how it applies to models used to estimate the ALLL. [More]