The financial information company Sageworks has entered into a strategic partnership with IndustryNewsletters, an email marketing company for accounting firms and other professional service firms.
The partnership will allow IndustryNewsletters to incorporate Sageworks’ Industry Data (SIDA), a warehouse of real-time private company financial statement information, into its content library and product offerings. Accountants who use the IndustryNewsletters email system will be able to offer Sageworks’ industry data to their business clients and prospects.
The two companies announced their partnership at The Advisory Board’s Winning Is Everything conference in Las Vegas.
“Since our company’s inception in 1998, our overarching mission has always been to help businesses succeed and make better decisions through the use of technology and data,” said Sageworks CEO Scott Ogle in a statement. “Thanks to our arrangement with IndustryNewsletters, thousands of business owners will be able to access our industry data and compare their financial performance to their peers.”
The industry data reports in the IndustryNewsletters email system use Sageworks’ private company database, a warehouse of aggregated financial statement information that includes 70 metrics for 1400 different industries. The information is incorporated into Sageworks products, including ProfitCents, financial analysis software for accounting professionals used by thousands of firms across the country.
IndustryNewsletters CEO Barry J. Friedman, CPA said the partnership originated from a desire to help both business owners and financial professionals. “Through our email marketing technology, we want to help accountants win new business and differentiate their firms,” he said. “Sageworks was a logical partner for us, given that thousands of accounting professionals already use Sageworks products to set themselves apart as business advisors.”