Sageworks has been mulling the introduction of an online service that would allow small and midsized business owners and CFOs a way to see how their business stacks up against competitors.
The new service would represent a return to the roots of the company, which was created in 1998 with the goal of helping ensure the success of small business owners and startup companies. The company later expanded to provide a set of Web-based analytical products for accounting professionals and commercial lenders for marketing, retaining clients, and saving time during critical auditing processes.
The service would provide plain English analysis reports on the condition of the owner’s business and profit margin, including a forward look at potential problems that may arise concerning cash flow and other critical performance metrics with industry specific recommendations for improvement. The service would also include benchmark comparisons to peers within the same industry and revenue range, and the ability to integrate data quickly from existing QuickBooks or Peachtree accounting systems. Users would be able to access the technology with a “day pass” rather than a yearlong subscription.
According to a spokesperson, the Web-based service was in its preliminary stages, and the company has not yet decided to offer the service to the public.
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