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Sageworks Blog


Why are credit unions becoming more business-friendly?

A recent Entrepreneur article focused on credit unions and how they can be an ally when startups or small businesses seek financing. Since the Great Recession in December 2007, partnerships between credit unions and small businesses have become increasingly commonplace, and Entrepreneur relayed some interesting statistics that support the reality of this emerging trend.


Use technology to make the most of your accounting firm’s staff

As the Wall Street Journal recently noted, some companies in recent years have cut entry-level jobs in order to restrain costs. Other employers, including some accounting firms facing staffing challenges, expect lower-level hires to handle duties that might formerly have been performed by workers with more experience. “Everyone gets pushed up the food chain,” Sageworks Chairman Brian Hamilton told The Journal. At the same time, retaining valuable employees – especially those with leadership potential -- is a top concern among many accounting firms. Smaller accounting firms, especially, may be battling the perception that they are unable to offer top talent sufficient oppo... [More]


3 Easy ways accountants can build on their clients’ trust

Business decision makers view accountants as valuable assets to their organization. In fact, the AICPA said recently that more than half rank CPAs as their most trusted advisor. How can accountants capitalize on their reputation as a trusted financial expert? Here are some small steps to build on trust so clients will stay with the practice and will seek additional services.



Stress testing: No one size fits all

Stress testing may be just one hammer in a bank’s risk management toolbox, but it is a crucial one. The results of the stress testing process are helpful for a bank of any size to adjust their risk management strategies accordingly. [More]


Poll: How much is thought leadership and content marketing used at your firm?

ProfitCents by Sageworks recently hosted a webinar, Content Marketing Strategies, which discussed how to effectively implement and use thought leadership in your accounting firm. Rob Nance, Director of Content Marketing & Consulting Services at Inovautus Consulting, explained ways to overcome the most common challenges in creating thought leadership. [More]


3 Common ALLL model validation questions

To help executives understand the supervisory guidance on model validation and how it applies to ALLL models, Sageworks and Crowe Horwath partnered to deliver a webinar last month. Sageworks’ Ed Bayer, and Crowe’s Mike Budinger and Ryan Michalik discussed recent ALLL trends and the three main components of model validation. During the presentation, bankers asked a variety of questions related to model validation, FASB’s CECL model and ALLL methodologies. [More]


Take your relationship with your accountant to the next level

How well do you and your company’s accountant know one another? Do you hand him or her a pile of papers come tax time and go about your day, or do you appreciate and make use of the wide range of services the accounting firm has to offer. A business’s accountant could be, and should be, your most trusted business ally and advisor. Make sure you are utilizing and appreciating all the above-and-beyond things your accountant can do for you and your business each year. [More]


How to stress your CRE portfolio

Many banks are familiar with top down stress tests, as these tests may not necessarily require the use of a sophisticated model and there is an accepted way to implement the tests. Bottom up stress testing, however, is not as clearly defined by guidance and is often left up to the institution for interpretation.

Commercial real estate (CRE) concentrations and the added risk of these loans are a fact of life for many banks. Whether the bank already has a large CRE concentration or is targeting the segment for growth, CRE stress testing is a key component of an effective risk-management framework and can be one of the best ways to defend and support a CRE concentration. [More]


Justifying your ALLL in a period of low historical losses

A common concern among banks recently is how to correctly implement loss methodologies in a period of low historical losses. While it’s a relatively good problem to have, it nonetheless imposes challenges in the calculation of the ALLL. If there are few reference points, how then, does a bank go about calculating an accurate measure for loss? [More]


Establish a strategy for cross-selling your accounting firm's services

The AICPA estimates that winning a new client costs 11 times more than retaining a current client. One way for accountants to increase firm revenue and deepen client relationships is to offer value-added services to existing clients. Don’t know where to start? Download this checklist to learn how to develop a retention strategy for your accounting firm. [More]