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Sageworks Blog


Why your accounting firm should have a retention strategy

It is estimated that 40% of accounting clients are interested in new services from their accountant. Learn how you can increase your client’s awareness about your firm’s service offerings, potentially resulting in more revenue and happier clients. Download this infographic today! [More]


Does bigger mean more efficient?

With size comes economies of scale. Larger institutions can “scale” to meet challenges that many smaller institutions find hard to handle. Being better equipped to meet regulatory demand comes to mind amidst other advantages: marquee clients, specialized positions, brand recognition, etc. A recent post by Jeff Marisco, author of Jeff for Banks, highlighted trends in efficiency among financial institutions with respect to asset categories. [More]


Retain top female staff in your accounting firm

Women made up a slightly larger share of partners at CPA firms last year than they did the previous year, but there’s still room for improvement, according to industry consultant Marc Rosenberg. Nevertheless, retaining talented female staff and developing them into partners remains an important issue within the accounting industry, said Rosenberg. Here are some ways to do that.



Why credit unions should consider stress testing

Within the financial industry, the word “regulation” often receives a mixed reaction. Viewed as a necessity by many, it draws opposition from others. Last week, the biggest names in banking addressed their balance sheets, and announced the results of their mid-year stress testing practice. ... What’s been mostly out of the mainstream news cycle, though, is the effects of regulation following the financial crisis on the community banks– specifically, credit unions. [More]


3 Steps to Becoming the Steve Jobs of Accounting

Steve Jobs. Sergey Brin. Mark Zuckerberg. Each of these individuals, and their companies, are celebrated as changing the face of the technology. [More]


Poll: Does your firm have a formal marketing plan in place?

ProfitCents by Sageworks recently hosted a webinar on How to Create and Implement a Marketing Plan in Your Firm. Bonnie Buol Ruszczyk, President of bbr marketing, discussed strategies for developing a marketing road map to to attract the clients that will be most valuable for your firm. [More]


How to manage the risk of commercial real estate lending

As banks are increasingly playing a bigger role in commercial real estate lending, it is more important than ever to ensure proper risk management practices. This is especially true for banks exceeding one or both of the commercial real estate (CRE) supervisory criteria. [More]


Community banks plea for regulatory relief

On Tuesday, community bankers from across the U.S. asked the Senate for regulatory relief. Those speaking out about increased regulatory demand included Toney Bland, Senior Deputy Comptroller for the OCC, Doreen Eberley, Director of the Division of Risk Management Supervision for the FDIC, Federal Reserve Board Gov. Daniel Tarullo, and ABA Chairman Jeff Plagge. They highlighted challenges facing community banks, how regulatory agencies are responding to these challenges, and asked the Senate and House to work together to pass legislation that will benefit community banks and ultimately, the econom [More]


What can a niche retailer teach accountants about growing their business?

Tractor Supply has been one of the fastest-growing retailers in the U.S. for several years running, and it owes much of its success to one thing: It specializes in serving a particular group of customers, and it primarily sells products those customers want. The retailer’s marketing efforts reflect that focus. Accountants, too, can benefit from shifting from an “all things to all clients” mindset to one that is more focused on serving and reaching your ideal client.




How one accounting firm used ProfitCents reports to retain a client

Identifying improvements a client can make to their business should be part of an accountant’s regular routine, but getting the client to actually take the necessary steps to implement these opportunities can be a challenge. Accountants can use resources such as ProfitCents reports to help bridge the gap with clients by pinpointing areas for potential growth and motivating them to make the change. [More]