Sageworks
| 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] It provides financial analysis and data of private companies in the U.S. They also develop software for financial institutions, CPAs and private companies. It is incorporated and headquartered in Raleigh, North Carolina. Sageworks also generates and makes available from its proprietary database, real-time data on the financial performance of privately held companies. Private company owners are under no obligation to disclose highly sensitive company data. In fact, such business information is often protected and not made available publicly. Sageworks obtains fully informed consent and authorization from parties who are authorized to provide the private company information. Through a cooperative data model with its clients, Sageworks collects approximately 1,000 private- company financial statements daily from its clients. The data is aggregated by industry and is used to generate the Sageworks private company indicator, which shows real-time private-company sales growth and profit margins.[3] Disclosure of such sensitive private company information, especially to the firm's competitors, can pose significant harm to the business or its owners. However, Sageworks takes all necessary commercially-reasonable precautions to maintain the privacy of any information that might identify the specific source of data.
Given the well known risks of highly sensitive data loss from cloud based software, Sageworks takes precautions to ensure the security of customer information. As an FFEIC-audited entity, Sageworks takes all security precautions required under current federal law.
In their online [4] privacy policy statement, and within all agreements with its clients, Sageworks is transparent about the gathering, use, and resell of anonymized, non-identifiable private data which is scrubbed of all personally identifiable information.
As a separate product offering,the company offers business intelligence information consisting of anonymized financial and operational data it collects about private companies.
Customer data protection measures and data loss exposure
The company explains that it uses both a secure software server (SSL) that encrypts information entered online as well as a GeoTrust Security Certificate to protect the confidentiality and security of customer information. According to this same policy, the company also uses firewalls, real-time monitoring, intrusion detection systems, and other precautionary methods.