Online CFO Platform Helps Businesses Manage Finances

Sageworks has launched its new CFO platform, a financial analysis suite for CFOs, financial professionals and executives. Sageworks’ technology and products are used by thousands of financial professionals across North America, and the Sageworks CFO suite has been catered specifically to businesses and their financial executives.

“We originally started Sageworks in 1998 to help reduce the overall failure rate for businesses in the United States,” said Scott Ogle, CEO of Sageworks. “We’ve been incredibly fortunate enough to help thousands of financial professionals who work directly with businesses, and with this new platform, we’re continuing the original mission and dream of Sageworks- that is, to help U.S. businesses make better business decisions through a more comprehensive understanding of their financial health.”

The Sageworks CFO platform consists of four core areas of focus: Narrative Financial Analysis, Benchmarking, Valuation, and Industry Data. The first pillar, narrative financial analysis, utilizes Sageworks’ patented FIND technology to convert financial statements into a narrative, easy-to-read report. Through this report, CFOs and other executives will be able to explain a company’s financial health clearly and concisely to stakeholders and board members. By utilizing the second core area of focus, benchmarking, financial executives will also be able to see how they stack up against the competition and create action plans to drive profitability and efficiency improvements where appropriate.

The third pillar, valuation, allows CFOs and financial executives to utilize the three industry-standard valuation approaches to derive a defensible and SSVS-1-compliant valuation report for their business. Finally, the suite allows financial professionals to have full access to Sageworks’ industry data.

Sageworks possesses the largest real time warehouse of private company financial statement information in the United States, with more than 1.3 million aggregated private company financial statements. This data is regularly used by members of the media and leading academic institutions to evaluate the health of the U.S. economy and the performance of private companies in the U.S.

“We could not be more excited for the launch of this product,” said Ogle. “The financial health of private companies is crucial to the overall health of the U.S. economy, as they drive the lion’s share of jobs and economic growth. If we can help these businesses perform better financially, even slightly, we’ll have moved one step forward in fulfilling our company’s original mission.”