Sageworks to Offer Free Probability of Default Reports
Raleigh, NC, November 6, 2012— Sageworks recently released the Business Credit Report by Sageworks, which assesses the probability of default (PD) for small and medium sized businesses, and is now making three (3) free reports available to all banks and credit unions. Institutions interested in generating their reports should contact Sageworks or subscribe at http://web.sageworksinc.com/business-credit-report-subscribe/.
The Business Credit Report by Sageworks provides a predictive probability of default for analyzing businesses and only requires ten, easy inputs. The data behind the model comes from Sageworks’ proprietary, private-company database and partnering banks. Given the robust and targeted data set, the model, which was validated by banks and PhD statisticians, provides the most accurate default analysis available for private companies under $10 million in annual revenue.
The report includes two models so banks can generate either a business-only or a global probability of default that incorporates financials from the owner, giving a more comprehensive analysis of the borrower’s default risk.
“The decision to develop the Business Credit Report was really logical for us given that it sits squarely at the intersection of our two core businesses, collecting and analyzing private company financial data and providing industry-leading credit risk management technology to financial institutions,” commented Sageworks President, Scott Ogle.
Financial institutions can use their complimentary Business Credit Reports by Sageworks to:
- Enhance loan decisions with deeper, more quantitative analysis;
- Detect problems earlier in loan review;
- Produce forecasts for Dodd-Frank stress testing requirements; and
- Prepare for regulatory requirements for estimating default probabilities, providing long-term predictive analysis and documentation for risk-weighted assets.
To subscribe to the three (3) free reports, sign up for a product webinar, or review the model’s methodology, bankers should visit www.sageworkscreditreport.com or contact 919.851.7474 ext. 693.
About Sageworks, Inc.
Raleigh, NC-based Sageworks, Inc. is a financial information company and provider of the Business Credit Report, which assesses business credit risk. 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.