ATLANTA, Nov. 8, 2005 (PRIMEZONE) -- Barfield, Murphy, Shank & Smith P.C., the second largest locally owned CPA firm in Birmingham, Alabama, and iLumen, Inc. jointly announced today that Barfield, Murphy, Shank & Smith P.C. will implement iLumen's client financial monitoring and benchmarking service. The service will provide the firm's clients with a more secure, accurate and timely method for sending interim financial data to their CPA.
"As a firm that openly embraces new technology, we are always looking for new ways to better serve our clients," said Keith Barfield, Shareholder. "iLumen's service will give us the unique ability to proactively advise our business clients throughout the year on issues such as loan covenants and cash flow planning. By electronically receiving financial information from our clients on a monthly basis, we will be better positioned to identify risks and opportunities much earlier in the year and to plan appropriately."
"Barfield, Murphy, Shank & Smith is a rapidly growing firm that was looking for a solution that would allow their CPAs to better serve an expanding set of clients," said Robert H. Woosley, Co-founder and Chief Executive Officer of iLumen. "By implementing iLumen's client financial monitoring and benchmarking service, the firm's professionals will be able to offer unique insight into their clients' financial situation."
"Many of our clients don't have the time to explain their business challenges to us on a monthly basis, so we need to have efficient ways to receive and analyze their interim information," said Barfield. "The decision to implement iLumen's service is an extension of our commitment to clients and to delivering value using technology as a more efficient means to serve them."
About Barfield, Murphy, Shank & Smith P.C.
Headquartered in Birmingham, Alabama, Barfield, Murphy, Shank & Smith employs more than 70 professionals and is led by nine shareholders. The firm's client list includes hundreds of companies that represent a broad range of business and industry groups including non-profit, construction, and financial institutions. The firm is a member of the BDO Seidman Alliance.
For more information visit www.bmss.com or call 205-982-5500.
About iLumen
iLumen, Inc. is a financial information technology company that delivers and manages private-company data gathering and analysis solutions designed 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) data warehousing engine known as iMonitor(r) 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 404-446-1600. iLumen and iMonitor(r) are trademarks of iLumen, Inc., all rights reserved.