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Sageworks Blog


ProfitCents U.K. enhances industry benchmarking

Sageworks, the maker of ProfitCents, has enhanced its ProfitCents U.K. platform to add real-time industry averages so that accountancy firms across the U.K. can show clients the most up-to-date and accurate trends in their industries.



Private equity’s “dry powder” pushing buyout valuations higher

Private equity firms ended 2013 with a record $1.07 trillion in “dry powder,” or capital committed but yet to be invested. But some deal makers have indicated that tough competition among buyers and high prices for sellers are creating some challenges, including lofty valuations.



An accountant's checklist for client meetings

Building relationships with your accounting clients requires trust, rapport and an atmosphere for open dialogue. Many accounting firms use a checklist to prepare for client meetings and to facilitate information exchange. Here are some questions that many accountants who are clients of Sageworks have found helpful when interacting with their business clients.



Sageworks' free data is coming to an end!

Since the mid-August launch of Sageworks’ free industry data, more than 4500 accounting firms have taken advantage of the free resource. However, January 31st will be the last day the free version is available. [More]


4 ways industry data can improve your commercial credit analysis

Commercial lending can be a large source of credit risk for any bank or credit union, especially for institutions in which commercial analysts are unfamiliar with the companies being analyzed or their industries. In that scenario, it’s like trying to read a book but not knowing the language. Or, at the very least, it’s like being unfamiliar with the dialect or the regional vocabulary.

A tool that commercial lenders can use to reduce credit risk and make better lending decisions is quality industry data, including up-to-date financial benchmarks for the relevant industry. With this added context, analysts are better prepared to interpret financial performance and know, for example, the average and above-average growth and profitability rates for the loan applicant’s NAICS or industry code. [More]


How my accounting firm created an industry niche

Michael Bohinc CPA is a baseball nut and the son of a plumber, so he combined both parts of his background as he developed an industry niche focused on plumbing and HVAC (heating, ventilation and air conditioning) contractors. Why and how did he do this? Here's his advice for other CPAs and accountants who are considering creating an industry niche. [More]


Top 5 ways accountants can use industry data

Many accounting firms tout their “excellent customer service” as what sets them apart from competitors, but if everyone is bragging about the same thing, are they truly unique? Here are the top five ways accountants can use industry data to provide insight and services that can distinguish your practice.



What is the importance of industry analysis?

Industry analysis is critical for any business professional looking to stay competitive. Whether we’re using it to gauge the competition or track our own progress, we regularly monitor how the marketplace is changing. But are we really getting the most out of the information provided to us? [More]


How to win your next new accounting client

Your firm may be successful today, but everyone knows that success can be fleeting unless you’re continuously thinking ahead to identify and win the next client. The key to developing a strategy for winning new clients is to answer these key questions: Why? Who? What? How? Here, Peter Brown, senior consultant with Sageworks, elaborates on the questions that can help you develop focused and effective plans for gaining new business. [More]


Did you raise your audit fees last year?

Sageworks has a real-time application that benchmarks accounting industry pricing, and it shows that audit-billing rates for sole proprietors, partners, managers and senior accountants range from $91 an hour to $224 an hour. Meanwhile, a recent survey of financial executives showed that private companies on average experienced minor increases in audit fees last year. [More]