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Sageworks Blog


How to make your small business the next big thing

You want to be the type of small business that shines. You want your presence to be felt worldwide. You want others to take note of what you’re doing to improve the communities surrounding you. And, might we add, you want to do it now! If this sounds like you, you’re not alone. There isn’t a new entrepreneur around who doesn’t want to be globally recognized as a leader or a game-changer. Think of the Mark Zuckerbergs and Steve Jobs of the world. Here are some ways to make your small business the next big thing.


Relax and reflect once busy season ends

Congratulations! With April 15 behind us, the end to what’s considered the busiest season for tax accountants has come. Undoubtedly, you have your own tradition of celebrating, but now's also a good time to reflect on the entire busy season so you can have an even better experience when the next deadline rolls around. [More]


The pros and cons of using spreadsheets – abiding by regulatory parameters

Banks and credit unions have utilized spreadsheets as a primary tool in risk management for decades. Unfortunately, over-reliance on these spreadsheets has become an area of serious regulatory concern, as many of the benefits offered by spreadsheets are often shadowed by potentially significant risks. Compliance with regulatory parameters is one of the top-of-mind concerns.



What accountants do after busy season

Now that another tax season is on the books, we wanted to find out what accountants do after April 15th. We asked the Business Advisory Professionals group on LinkedIn and here are the responses we received. [More]


Evaluating technological service providers for community bankers

This week the FDIC re-issued three documents containing information on technological outsourcing for community bankers. The documents were originally issued in 2001 and were included in a Financial Institution Letter (FIL) to FDIC-supervised institutions with less than $1 billion in total assets. The topics covered in these documents are: effective practices for selecting a service provider, tools to manage technology providers; performance risk and techniques for managing multiple service providers.



Top 10 challenges facing community bankers

Today’s regulatory environment continues to be the most pressing issue to community bankers, according to a recent poll conducted by the CB Journal. Other challenges include the interest rate environment, loan growth and more. [More]


Video: How to justify and support your qualitative factors – Part I

Justifying and documenting qualitative and environmental factors in the allowance calculation is a common challenge for banks and credit unions. More than 50 percent of the bankers during a recent webinar pointed to qualitative and environmental factors as their biggest ALLL challenge. In part 1 of this video series on qualitative factors, we identify best practices and supporting documents that can be used to justify and document your external-looking qualitative factors.



What is your current networking ROI?

In this brief video, founder and president of The Business Fox, Nancy Fox, discusses how to calculate your networking return on investment (ROI). Fox highlights you should be taking into account membership dues/fees, conferences, lunches, and travel expenses. She points out that on average, professionals spend $2,500 per year on networking. To find out how to calculate your networking ROI, watch the following video:



Why should you automate loan administration?

Many financial institutions have gotten by using their core system or a series of spreadsheets to manage tickler and covenant tracking as well as client communications. In today’s regulatory environment, however, banks and credit unions are being asked to minimize risk and standardize processes. An easy step with loan administration would be to consider automation. [More]


Backtesting: Deeper investigation of specific portfolio segments

Backtesting the allowance for loan and lease losses (ALLL) enables banks and credit unions to compare actual results for a defined period to the results forecasted by a model for the same period in order to evaluate accuracy of the model’s predictiveness.

When evaluating specific portfolio segments, it is important to determine answers to several questions from period to period such as: Which segments had an increase in the FAS 5 reserve? How much of the increase is due to changes in volume of that portfolio? How much is due to change in loss rate? [More]