Sageworks is now Abrigo.
Sageworks, Banker's Toolbox, and MainStreet Technologies are now Abrigo - giving you a single resource for your enterprise risk management needs. As a customer of Sageworks, you will continue to get the support you've always had, as well as access to new capabilities and expertise.
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  • What questions should bank boards be answering?

    Bank and credit union board members make every decision with a delicate balance of trying to maximize the institution’s performance without putting themselves at risk, according to a recent article by Jack Milligan. In the article, Milligan highlights four uncomfortable questions every bank board should answer: • Does the CEO…
  • 5 Things you need to do to make your business better this new year

    By Bailey McCann, Funding Gates Bailey McCann A new year offers many reasons to get excited about your business once again.  The possibility of new clients and customers is one reason to celebrate.  The launch of a new line of product or services very well could be what keeps you working…
  • Fed details newer and more stringent stress testing requirements

    On November 1, the Federal Reserve Board released the 2014 Comprehensive Capital Analysis and Review (CCAR) Summary Instructions and Guidance, detailing stress testing practices for large bank holding companies in the coming year. For the last four years, 18 bank holding companies have been required to comply with the Comprehensive…
  • Incorporating Basel III reforms for stress testing

    Late last month the Federal Reserve Board published two interim rules that explain specifically how banking institutions should apply Basel III reforms into their projections for the next round of capital plan submissions and stress tests.  The information is important because the upcoming stress testing and capital planning cycle, which…
  • The best online trading platforms for small business investors

    By Bailey McCann, Funding Gates Small business owners may consider investing as a means of growing capital for their business or providing an additional layer of financial security for themselves. Self-directed investments can be an excellent choice for these small business owners, as they give business owners complete control over the…
  • In good times, review business practices

    Lawrence Barger, CPA with Alpern Rosenthal recently wrote an article in a newsletter describing practices that manufacturing business owners should observe, now that the industry's recovery has proven to be sustainable. These practices can be helpful for companies in all industries, as they reassess business strategies. 1. Renegotiate loans and…
  • Here is why you should consider continuous budgets

    An article recently featured on CFO.com, written by Jon Louvar, explains why corporate planning on a monthly or quarterly basis instead of annually can improve the accuracy of the numbers and the efficiency of the process. Continuous budgeting, when the budgeting process is more frequent than once a year, means that…
  • Tax Return Analysis: When the Numbers say 'No' but Good Judgment says 'Yes'

    This guest post by Linda Keith, CPA and trainer to hundreds of credit unions and banks across the United States summarizes her recent presentation in the Sageworks 2012 Webinar Series. The series is an offering of free, educational webinars led by consultants and leaders in the banking industry who share…
  • 5 Financial metrics every business owner should know

    Is your business successful? How do you know? If you’re like most business owners, your days are filled by efforts to make your company successful. Those tasks might be focused on making a great product, generating sales, or building customer relationships. And you might be great at those things. But…
  • Avoid cash flow catastrophes: Part IV-10 ways cash flow forecasts go wrong

      Experts say cash flow forecasts can be tripped up by several common items that business owners and financial managers might overlook.  Generally, these can be blamed on two factors: omission or over-optimism. We’ll discuss over-optimism later, but let’s start with common items left out of cash flow forecasts that…
  • CFO Corner: Managing the chaos of growth

    Hartman King, CFO of Nashville restaurant developer MStreet Entertainment Group, discusses managing the chaos of growth and the benefit of evolving financial processes. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? Our company’s footprint…
  • Avoid cash flow catastrophes: Part III - Frequency

      Cash flow forecast frequency: How often should you update? As with many things in finance, how often you perform or update your cash flow forecast depends on the business and your circumstances, according to Lauren Prosser, manager of advisory services at Sageworks. A retailer that sells many products of…
  • Avoid cash flow catastrophes: Part II

    Cash flow forecasting 101 Forecasting a business’ cash flow is critical to ensuring operations can continue without major disruptions. But one way you can tell that cash flow forecasting is a pain point for many people is the number of templates and software solutions that are available online.  Nevertheless, David…
  • Avoid cash flow catastrophes: Improve your forecasts

    Remember Borders books? Or Circuit City? How about Pan Am Airlines? Each of these once-highflying brands is now gone or radically changed because their companies eventually ran out of cash to pay bills. But it’s not just big companies with declining sales that run into problems with cash flow. Talk…
  • Three ways to grow your accounting practice

    Most accountants this time of year are swamped meeting tax-filing deadlines, but once business slows down, do you know how to rev things up? Gale Crosley, founder and principal of Atlanta-based consultant Crosley+Company, offers these tips for growing your practice. She highlights ways that ProfitCents, Sageworks’ web-based financial analysis software…
  • CFO Corner: Top-down approach to cash flow forecasting

    L. Heath Sampson, CFO at asset management and recovery company SquareTwo Financial, discusses talent and a top-down approach to cash flow forecasting. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? One of the things…
  • 5 Reasons to improve your cash flow forecasting

    At its most basic level, cash flow forecasting helps a business survive. By knowing exactly what cash you have coming in and going out and when those transfers occur, you ensure you have enough cash to continue operating from day to day. But there are other, often related, reasons to…
  • CFO Corner: Sensitivity analyses for working capital

    Bob Pinkerton, CFO of contact center solutions provider Alpine Access of Denver, discusses streamlining the deal-review process and running sensitivities around working capital for cash flow forecasts. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial…
  • CFO Corner: Expansions; Weighing new opportunities and the budget

    Sheila Buska, CFO for the Monarch School, a public K-12 school in downtown San Diego that is exclusively for homeless students, discusses challenges during an expansion and weighing budgets and cash-flow forecasts against unexpected opportunities that arise.  What was the biggest challenge your company faced over the last 12 months…
  • CFO Corner: Helping new owners; common cash-forecasting mistake

    David Douglass, a partner with Atlanta-based professional services firm Tatum, recently shared with Sageworks Inc. how he met the needs of new owners and the importance of “owning” cash flow. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it…
  • CFO Corner: Dealing with a revenue drop; monthly financial reviews

    Craig Handley, CEO of Spanish-language communications center Listen Up Español, discusses dealing with a short-term drop in revenue and the importance of monthly financial review meetings. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership?…
  • Do I need business interruption insurance? A two-step decision

    Natural disasters in 2011 caused a record $350 billion in damages –the equivalent of wiping out the entire market value of General Electric (GE), Ford Motor Co. (F), Hewlett-Packard Co. (HPQ) and Kraft Foods Inc. (KFT) combined. But on top of the insured property losses, companies affected by the Midwest…
  • Private grocers’ margins unspoiled by higher food prices

    Higher food prices couldn’t spoil the profit margins of privately held grocers and convenience stores in 2011. That’s good news, considering the USDA projects continued, albeit moderating, food inflation this year. New data from Sageworks, a financial information company, shows that private companies in the grocery and convenience stores industry…
  • Fumbling financials (continued)-Avoiding the pitfalls of presenting numbers

    Part IV. Five tips for a financial presentation Last week, we continued the topic of how to present financial information to various audiences by addressing the importance of providing perspective and drawing connections between the numbers you provide.  In earlier posts, we reviewed keeping your data simple and focused, and…
  • CFO Corner: Challenging cash-flow forecasts

    Paula Griffo, CFO of VoIP Supply, an Amherst, N.Y., provider of VoIP (Voice over Internet Protocol) solutions, discusses reducing operating expenses and the challenge of developing accurate cash-flow forecasts. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it…
  • Is access to credit improving for businesses?

    Results of the Federal Reserve’s December survey of loan officers could be released today, perhaps providing insight as to whether banks have eased standards on commercial and industrial loans recently. President Obama in his State of the Union address last week urged Congress to help “tear down regulations that prevent…
  • Companies’ sights on controlling costs

    Private companies in the U.S. have kept a tight rein on overhead expenses, even as sales have risen, an analysis of companies’ financial statements by Sageworks shows.  Meanwhile, recent layoff announcements and a jump in jobless claims for the first week of January suggest companies are continuing efforts to control…
  • CFO Corner: Why a dynamic cash-flow forecast is critical

    Wayne Spivak, president of CFO consulting services firm SBA * Consulting, talks about the importance of delegating and of dynamic cash-flow forecasts. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? For both our company and…
  • What if my bank fails?

    Nearly twice a week last year on average, banking regulators closed a bank deemed unable to meet obligations to depositors and others. And while the number of bank failures was down from a year earlier, (92 vs. 154), that’s little consolation if you’re a business owner caught up in your…
  • Private companies paying bills later - Sageworks Stats @ Forbes.com

    U.S. companies continued to guard their cash flows despite increasing sales in 2011, reflecting continued uncertainty in the economic recovery and slower paying customers. Privately held businesses, which account for up to 70 percent of GDP and generate 80 percent of new jobs, stretched their average time for making payments to…
  • CFO Corner: Courting new investors in a trying environment

    Cynthia Jamison, CFO of Aquaspy Inc., shares her thoughts on courting investors and delivering bad news in a productive way. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? Liquidity and fundraising issues. We are a…
  • Risky business- Protecting your business with risk management

    Recent service outages for Sony Corp.’s (NYSE: SNE) PlaystationNetwork and for Research in Motion’s (NASDAQ: RIMM) Blackberry services highlight major risks companies face when it comes to their businesses. Both events have created tumult in the companies’ day-to-day operations and in their customer relations. While many business owners might think…
  • Duke's Global Entrepreneurship Program--Featuring Sageworks' Brian Hamilton

    Interviewed by Howie Rhee. Full article can be found here.  You went to Sacred Heart University for your undergraduate degree. What did you study and were you involved in anything entrepreneurial while you were there?When I was at Sacred Heart, I studied management and finance. My entrepreneurial experience started significantly…
  • CFO Corner: Private Bank of Buckhead's Terry Freeman

    Terry Freeman, Chief Operating Officer and Chief Financial Officer at Private Bank of Buckhead, talks about the importance of discipline and clients. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? Strategically building out additional…
  • CFO Corner: B2B CFO's Karen Chin

    What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? For one of my clients, the biggest challenge was to gain visibility on the actual financial performance of the enterprise. In reviewing how the accounting system…
  • 5 Ways Business Intelligence Transforms Your Company by Amanda Harley, MBA--Part 5

      Over the last few weeks, we discussed how business intelligence (BI) could help you transform your business. The first four ways covered were: #5 Business Intelligence is based on real numbers and information and NOT on a gut feel #4 Measure the ROI of products, suppliers, salespeople, and customers…
  • 5 Ways Business Intelligence Transforms Your Company by Amanda Harley, MBA--Part 3

    #3 – Business Intelligence Helps Assess Risk within an Organization In the #4 way Business Intelligence Transforms Your Business, I discussed measuring the ROI of each segment of your business. Measuring ROI is critical to implement the #3 way Business Intelligence Transforms Your Company: Mitigating Risk. I challenged you in…
  • CFO Corner: Robert J. Wydra, Jr., CPA--Working Under the Radar

    What was the biggest challenge your organization faced over the last 12 months, and how were you able to overcome it with financial leadership? Being a nonprofit reliant on state contracts, the biggest challenge has been continuing to provide a high level of service with decreased funding. Our funders want to pay less…
  • NYT: "A Few Accounting Essentials Can Spell Survival"

    Brian Hamilton; a Sageworks user, Bart Justice of Secure Destruction; and others provide some insight on how the owners of small businesses can really benefit when they give some attention to their finances. Justice, with his master's in industrial engineering, was focused on growing his business and general operations. Finances…
  • CFO Corner: Nick Araco, A "Connector" for Accounting and Finance Professionals

    1. What was the biggest challenge your company faced over the last 12 months and how were you able to overcome it with financial leadership? Having had the opportunity to work closely with the 2,000+ CFO Alliance Members and Partners over the past 12 months, I can say with confidence that…
  • CFO corner: Tips for cash flow management & financial success from Terry Conlon

    What was the biggest challenge your company faced while you were a controller and how were you able to overcome it with financial leadership?Improving forecasting, especially cash flow.  We significantly improved our DRO by tightening up credit terms and aggressively following up with past due accounts. To do this, I…
  • Dining on quality credit information

    In many respects, the challenges that a chef encounters in delivering quality fare to restaurant patrons are quite analogous to those faced by bank information technology personnel in generating reports for credit analysts, loan officers, and credit committees.  That is, head chefs and CIOs are both responsible for transforming numerous…
  • Ten Ways to Make the Most of Your Time with Your Accountant

    If you are running a business, you probably understand the operations behind it. A bakery owner knows how to craft a decent cupcake, and a plumber knows the cause and cure for a leaky faucet. For most business owners, financial management of their company is less intuitive and seemingly less urgent…