SAN JOSE, Calif., Jan. 16, 2007 (PRIME NEWSWIRE) -- Intacct Corporation, the leader in on-demand financial applications, and iLumen, Inc., leading providers of an interactive online community of private companies, today announced an agreement to make the iLumen Financial Information Network available to Intacct customers.
Intacct customers that join the iLumen Network will be able to access information that will help them better understand how they are performing against comparable industry peers throughout the year by accessing industry specific financial dashboards, benchmarking trends, expert analysis and peer group discussion forums.
"The iLumen Network is the nation's first and largest online financial community for the private sector," said David Bouchard, Vice President of Business Development. "Intacct's customers range from emerging startups to well established companies but they all have similar goals to grow their businesses and better understand their complete financial picture. The iLumen Network will give them the real-time financial analysis, industry expertise and insight from their peers that had previously been unavailable."
Members of the iLumen Network routinely access current and trending industry information dashboards and graphs that illustrate key financial trends occurring within their own business and can compare those trends to continually updated industry averages. Members also have access to industry observations and analysis from experts and forums where they share challenges and opportunities with industry peers.
"The iLumen Network is the perfect complement to Intacct's suite of financial applications," said Robert H. Woosley, CPA and Chief Executive Officer of iLumen. "The flexibility of the iLumen Network allows members to drill down to the details of their business as well as see how they compare to the bigger financial picture. It also gives them the ability to easily share this information with their trusted financial advisors."
The iLumen Financial Information Network is comprised exclusively of financial data anonymously contributed from privately-held companies. The data is aggregated in a standardized format, is frequently updated and does not include any third party sources. iLumen has formed partnerships with banks, accounting firms, and trade and industry associations to deliver their services to privately-held companies.
About iLumen
iLumen, Inc. delivers a financial information network for private companies and their trusted business advisors. The iLumen Network is an interactive online community of private companies that join the network to receive greater insight into their business, industry and marketplace through financial analysis, comparative benchmarking, industry intelligence and interactions with their peers. The iLumen Network utilizes proprietary (patent pending) technology and business processes that deliver and manage private company data gathering and analysis solutions. The iLumen Network is used by financial institutions, accounting firms and other businesses to solve critical problems in risk management, financial compliance and financial oversight.
iLumen(tm) and iMonitor(r) are trademarks of iLumen, Inc., all rights reserved.
About Intacct
Intacct provides on-demand financial applications for more than 2,000 small and midsize businesses. Over 10,000 users from startups to public multinationals pay a monthly subscription fee to access the first SAS 70 Type II certified financial, supply chain, business intelligence and project management suite on the Web-which enables corporations to comply with GAAP and Sarbanes-Oxley. Together with its strategic business partners, Intacct also offers a wide range of enterprise software to help companies of all sizes run their entire operations with one integrated application suite. Intacct's financial management system supports all business units, each with its own account structure, business processes, currencies, taxes and regulatory requirements. The ability to add more users, applications, currencies and business units as you grow makes Intacct the last financial management suite needed. Headquartered in San Jose, California, with operations in Bangalore, India, Intacct is a privately held company funded by Deloitte & Touche, Emergence Capital Partners, Goldman Sachs, Hummer Winblad Venture Partners and JK&B Capital.