RALEIGH, NC (September 30, 2013) -- Sageworks, a financial information company that provides risk management solutions to banks and credit unions, today announced that it will make its database of industry statistics on privately held companies available for free to all banking professionals in the U.S.
The Sageworks database is the country’s largest warehouse of real-time, accurate private-company financial statement information. As of April, the Sageworks database included more than 1 million aggregated private-company financial statements. Previously, these industry metrics were only available to paid subscribers of Analyst, Sageworks’ credit analysis for financial institutions.
Scott Ogle, chief executive officer of Sageworks, explained, “We’ve always believed that the key to making smart, profitable business decisions is access to reliable and easy-to-use financial information. Industry benchmarking data allows banks and credit unions to make better lending decisions with the added confidence of knowing where a business stands in relation to similar companies across the country.” Through the use of Sageworks’ benchmarking data, financial institutions will be able to examine and benchmark business borrowers in the credit analysis process at origination and annual review and build better relationships with business clients.
The industry reports offered by Sageworks cover 1,400 unique industries. Each industry report includes 60 financial metrics such as average revenue growth, net profit margin, percentage of total revenue spent on items such as rent and advertising, among many others. Both historical and recent data is provided so banking professionals can assess industry trends over time, as well as current benchmarks.
Aside from being used by banks, credit unions, and accounting firms, Sageworks data is used regularly by the media to report on the health of U.S. private companies and studied by some of the country’s top educational institutions to evaluate the behavior and performance of this portion of the economy.
To sign up for access to the free industry benchmarking data, bankers can visit the industry data homepage.
About Sageworks
Sageworks is a financial information company that provides risk management, financial analysis and industry benchmarking solutions to accounting firms and financial institutions. Sageworks’ data and applications are used by thousands of banks and accounting firms across North America. The company has been named to the Inc. 500 list of the fastest growing privately held companies in the U.S. and to the Deloitte Technology Fast 500.