The Leader in the Financial Analysis of Privately Held Companies


Sageworks Blog


Top mistakes accountants are making with existing clients

Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in "Big Yellow Taxi." But chances are, many accountants have the same thought after a client leaves the practice – especially someone who was with the firm for several years.So what are the top mistakes that accountants are making when it comes to retaining clients? Here are a few, along with suggestions for preventing your firm from making them.



Poll: 36% of finance professionals send clients to a third party for business valuation services

During a recent webinar on how to prepare for booming growth in the valuation industry, Sageworks polled over 135 finance professionals and found that more than 35% are sending their clients to a third party to complete a business valuation. [More]


The importance of balancing loan portfolio growth and risk management

U.S. banks are seeing low loss rates on CRE and construction loans relative to the past six years. As a result, many are seeking growth in these areas, and others, as the recent financial crisis falls into the more distant past. But how can this growth be managed appropriately? [More]


What is the FASB’s process for issuing standards?

The FASB continues to receive attention surrounding their proposed CECL model, as final guidance is expected to be released late 2014 or early 2015. With such a substantial capital change on the horizon, many banks wonder if the FASB truly understands the costs and benefits of the standards they set. Russell Golden, FASB chairman, recently explained the process. [More]


Establishing a project management culture

Among the various characteristics that make up a company’s culture, one of the most important aspects often goes overlooked. Ancin Cooley, Principal of Synergy Bank Consulting, Inc. states that a mix of value-based cultures is pivotal in the effective management of a bank. A sound project management culture, Cooley argues, should be in the forefront of financial professionals’ minds. In his article, Cooley defines a project management culture as one that focuses on the “application of knowledge, skills and techniques to execute projects effectively and efficiently.” Simply put, it is the mindset that turns thought and theory into positive results. Institutions tha... [More]


How one accounting firm used ProfitCents to show clients the importance of value-added services

Nearly every firm has business clients who are interested in more services from their accountant. Almost two-thirds of clients are unaware of all services their accounting firm has to offer. Cross-selling value-added services will not only help you retain your current clients but also grow your business’s revenue. [More]


4 Ways providing valuations can help your accounting practice

Valuation services is one area that holds tremendous opportunity for accountants as baby boomers retire and try to sell or pass on to relatives their businesses or other assets. Paul Wapner, CPA/ABV, CGMA, manager of forensic and valuation services for the AICPA, believes that there are numerous ways accountants can benefit by offering valuations.



Keys to a better loan presentation

How much time do you spend on a loan presentation? Does it include the right content? According to Gary Welsh, banking services manager at Condley and Company, the key to a clear and concise commercial loan presentation is beginning with the end in mind. [More]


Tweet to pay: Is this the future of banks maintaining a competitive edge?

With the significant rise of person-to-person (P2P) payments – allowing a customer the convenience of sending money directly to someone else quickly – news broke earlier this month that Twitter is getting into the game; and yesterday, the details were announced at a press conference. Groupe BPCE, France’s second largest bank (by customers), has utilized the API of the global social media giant Twitter to allow their customers to transfer money via a tweet.


Combating inconsistency in risk management

When it comes to the risk management process, there is no one-size-fits-all approach. Financial institutions have a wide variety of approaches, as calculations and analyses differ between lenders.

“It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. “Everyone’s going to have their own ways, and from bank to bank they will have different underwriting guidelines and standards. At a high level, that’s fine. That’s what creates good banks and bad banks; some banks are better at those things than others.” [More]