ATLANTA, July 8, 2004 (PRIMEZONE) -- iLumen, Inc., a financial information and technology company headquartered in Atlanta, today announced the formation of iLumen Global Benchmarking, Inc., as an iLumen subsidiary company. iLumen Global Benchmarking manages a growing database of private company financial information gathered using iLumen's proprietary iMonitor(r) technology (patent pending).
iLumen Global Benchmarking's database is a standardized repository of aggregate, anonymous private company financial data that is populated with periodic submissions of accounting data from participating institutions. In exchange for contributing their data, these institutions may subscribe to various on-line peer group benchmarking and industry comparison reports issued by iLumen Global Benchmarking. Benchmarking reports are secure, anonymous, aggregate reports that represent various industry sectors. Subscription agreements with participating institutions protect the privacy and identity of all submitters.
"iLumen Global Benchmarking fills an information void in the financial services industry," said Robert H. Woosley, co-founder and chief executive officer of iLumen. "Using iMonitor's automated mapping and data warehousing engine, we simplify the collection process to maximize the quantity and quality of information being gathered and benchmarked. Users have access to interim and annual peer group and industry comparison reports, along with the ability to track financial performance as often as every month, quarter or year, or on a trailing period basis."
"iLumen Global Benchmarking promises to be a unique source of high-quality, extremely granular, private company peer group financial information and trends," said Dr. William Chambers, Managing Director, Standard & Poor's Risk Solutions. "By aggregating direct submissions from private companies, iLumen will help users better understand how their business' performance compares to their industry segment, geography, or to global business trends."
"We plan to use iLumen Global Benchmarking's data to provide information to our mid-sized private clients," said Tom Murphy, Executive Vice President, RSM McGladrey. "iLumen compiles financial data in a consistent format that we can compare against our client financial data. We see significant value for our clients in using this information to make intelligent peer group comparisons based on key financial metrics."
About iLumen Global Benchmarking, Inc.
iLumen Global Benchmarking, Inc. is an iLumen subsidiary company that manages a standardized repository of aggregate private company financial data gathered using iMonitor(r) technology. It is a financial information clearinghouse populated with periodic electronic submissions of accounting data from participating institutions. The repository automatically updates strategic benchmarks with each client submission, evaluating trends and peer group comparisons and reporting changes (growth, decline, etc.) in key financial metrics. http://www.ilumen.com/Global_Benchmarking.htm
About iLumen
iLumen Inc. is a financial information technology company that delivers and manages private-company data gathering and analysis solutions to solve critical problems in risk management, financial compliance and financial oversight within the banking, accounting and corporate environments. iLumen's services are based on a proprietary (patent pending) financial data warehousing engine known as iMonitor that automates, and standardizes the gathering, mapping, analysis and benchmarking of electronic accounting data from private companies.
For more information visit www.ilumen.com or call 888-663-8003. iLumen(tm) and iMonitor(r) are trademarks of iLumen Inc., all rights reserved.