Sageworks
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| File:Sageworks logo.jpeg | |
| Industry | Computer Software and Information Technology |
|---|---|
| Founded | 1998 |
| Founders | Brian Hamilton, Sarah Tourville |
| Headquarters | Raleigh, North Carolina, USA |
Key people | Brian Hamilton, Chairman Scott Ogle, CEO |
| Products | Solutions for Financial Institutions, Accountants, Business Owners, and CFOs |
| Website | www |
Sageworks is a financial information company founded in 1998 in a business incubator in Research Triangle Park, North Carolina.[1] Scott Ogle was named chief executive officer in 2013.[2] The company provides financial analysis and data on private companies in the U.S.[3] and develops web based software software for financial institutions, CPAs and private companies. It is a privately held company, incorporated and headquartered in Raleigh, North Carolina[4] with a second location in New York City.[5]
Sageworks obtains from its customers and makes commercially available via its proprietary database, data on the financial performance of privately held companies. The company collects private company financial statements from its clients at a rate of 1,000 statements per day, and the data is aggregated by industry and used to generate the Sageworks private company indicator, which shows private-company sales growth and profit margins.[6][7] Because private company owners are under no obligation to disclose highly sensitive company data, and because such business information is often protected and not made available publicly, Sageworks requests[8] fully informed consent and authorization from parties who are authorized to provide the private company information, including professional advisers such as accountants who must safeguard their business client information and prevent its disclosure under an accountant-client privilege.
The service requires that customers enter highly sensitive private company data that is retained on Sageworks computer systems. At the same time, the company repackages and resells the customer data that is offered as business intelligence information consisting of financial and operational data it collects about private companies, less the personally identifiable information.[9]
Sageworks Terms of Use[10] Policy contains the hold harmless clause seeking to shield Sageworks from responsibility for any claims, actions, investigations, or liabilities resulting from use of its products. According to the Terms of Use, the sole remedy of Sageworks customers is the requirement that they indemnify Sageworks for any damages against from third party claims resulting from Sageworks' possession and use of customer provided data.
The company explains that it uses both a secure sockets layer (SSL) that encrypts information entered online as well as a GeoTrust Security Certificate to protect the confidentiality and security of customer information during its transmission to Sageworks' servers.[11]
References
- ^ [1] The Research Triangle Park Foundation Blog.
- ^ [2] Triangle Biz Journal.
- ^ [3] The Wall St Journal
- ^ [4] Chicago Tribune
- ^ [5] Crain's New York
- ^ [6] Fox Business.
- ^ [7] Fox Business.
- ^ [8] Sageworks privacy policy
- ^ [9] Sageworks privacy policy
- ^ [10] Terms of Use Policy
- ^ [11] Sageworks Security Policy