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  • How banks, credit unions can prepare for fintech disruption

    Community banks and credit unions face more competition and disruption than ever before. In an interview for the eBook, Agile Bankers – How Community Banks are Addressing Disruption, Risk and Growth, Tom Bugielski, CEO of Republic Bank of Chicago, says, “The retail banking challenge that we face today is something…
  • How does artificial intelligence change banking, and how can community banks prepare?

    Artificial intelligence (AI), or the development of computer systems to perform human-like tasks, like decision-making and speech recognition, is a fairly divisive topic. Sometimes, the uncertainty surrounding AI can be met with anxiety, fearing that one’s job or industry may be overtaken by automation. On the other hand, AI is…
  • Improving banking customer satisfaction with technology

    Technology has drastically changed the ways we interact with different industries, from shopping to taxiing around town. For the first time in its five-year history, the annual Economist Intelligence Unit survey revealed that keeping up with changing customer behavior and technology are the most important trends to bankers – even…
  • Human touch + high tech = business lending growth

    Even though mobile apps and online services are the norm in most people’s everyday lives, research shows that when it comes to borrowing, business owners still value personal service and existing relationships, too. About 90 percent of small business owners in a 2016 Aite Group survey said familiarity or previous…
  • Technology can help community banks tap into the “Buy Local” movement

    Everywhere you look, various industries are tapping into the “Buy Local” movement. Local retailers now get a boost from Small Business Saturday campaigns for holiday shopping the day after Black Friday each year. Restaurants have made “farm to table” a popular trend by using locally grown ingredients. Craft beer brewers…
  • Marketing tips for credit unions

    In March 2018, the Credit Union National Association (CUNA) held the 25th Annual CUNA Marketing & Business Development Council Conference in San Francisco. At this conference, they held a “Tech Talk” session that “digs into the intersection of marketing and technology.” Here are some takeaways: Embrace marketing automation During the…
  • A common thread among banking priorities in 2018

    Like clockwork, you can expect to see people making their bets for the “biggest trends” we will see in the New Year. Along with predictions for corduroy pants and cryptocurrencies, there are also countless predictions for banking trends in 2018. One common thread among many of the predictions is the…
  • Business valuation software: What are the benefits?

    In the same way that no two businesses are the same, no two business valuations are the same, either.  This is partly why the practice of business valuation is often said to be part art, part science. Valuation professionals must conduct research and apply professional standards, such as the AICPA’s…
  • 4 Time-saving strategies for you and your firm

    We’ve all heard it: Time is money.  This proves true in the accounting industry as much as any other. While it is great to be busy, it can be a sign that you need to re-evaluate your day-to-day work for areas that can be streamlined. Evaluation can be most needed…
  • Performing business valuations with optimal efficiency

    Are business valuations at your firm as timely as they should be? Could the practice serve more clients each year if it could accelerate the process of performing business valuations? How long “should” a business valuation take? These are all relevant questions for advisory firms, particularly given the number of…
  • Poll: Accountants want substantially more revenue from advisory services

    Everywhere these days, news headlines scream that automation stands to eliminate many of the traditional jobs in the U.S.: “Robots are coming for white-collar workers’ jobs” and “More Robots, Fewer Jobs.” Indeed, a 2013 research study estimates that nearly half of total U.S. employment is at high risk of becoming…
  • One of commercial banking’s biggest challenges solved by Sageworks’ “Most Innovative” product

    Experts agree that while commercial lending is a critical banking service, it has been one of the least automated and technology-reliant aspects of banking today. One of the reasons for the current inefficiency in commercial banking is the number of tax returns that need to be entered and analyzed by…
  • 6 realities for banks about lending to small businesses

    By Eric Baxley, Chief Marketing Officer, Sageworks Since my last post, I’ve continued to meet with our banks and credit union clients across the country, and some common themes surfaced in the conversations. Most notably, the institutions recognized that change was overdue for their business lending programs. 1. Bank management…
  • 3 top tech trends for public accountants to watch in 2017

    Kimberley N. Ellison-Taylor, chairman of the AICPA, recently noted that technology tops her list of the most important trends shaping 2017 because it will drive so many of the profession’s opportunities and challenges in the year ahead. But how are accountants supposed to keep up with all of the technological…
  • Customer road trip: 6 Lessons learned about small business lending

    By Eric Baxley, Chief Marketing Officer, Sageworks I visited 20 customers (banks and credit unions) across the U.S. in the past few months and have learned six things that are common to almost all of them. They want to: 1. Grow their loans, focusing on small business lending with a…
  • How better audit planning produces better audits

    Vacations usually go more smoothly when you’ve made reservations and researched your destination.  Buying a car is easier when you’ve done your homework on the vehicle model and made some initial inquiries to line up financing. It’s a fact of life that in many processes of our day-to-day personal and…
  • How technology improves valuation practice productivity

    Have you purchased anything online recently? If you’re like most Americans, you have, and you likely were grateful for the time saved in traffic and at the store, or for the time or money saved in booking a trip. The benefits of utilizing e-commerce technology are readily apparent to us…
  • OCC calls for “responsible innovation” amid fintech wave

    The Office of the Comptroller of Currency, recognizing the sweeping changes in technology and business practices that are affecting financial institutions, is recommending U.S. banks incorporate “responsible innovation” as they adapt quickly to these advances, but what exactly does that mean?  In a recent whitepaper (download), the regulator outlined the…
  • Whitepaper: How technology is changing the way firms operate

    The following is an excerpt from the Sageworks whitepaper "The Automation Revolution: How Technology is Changing the Way Firms Operate". As consumers adopt the latest technology, businesses must do the same in order to provide services and customer experiences that align with today’s technology. The feeling of visiting a financial…