ATLANTA, March 4, 2004 (PRIMEZONE) -- iLumen Inc., a financial information and technology company headquartered in Atlanta, today announced the filing of the first in a series of patent applications for their iMonitor(r) financial data gathering and analysis technology. iMonitor is a web-based platform for acquiring, standardizing and communicating electronically-enabled accounting data from private companies for the banking, accounting and corporate risk market.
The iMonitor patent application describes an automated browser-based data import, conversion, and analysis engine that accepts financial information from a wide range of accounting programs produced by various manufacturers. iMonitor uses a proprietary architecture for standardizing and transporting accounting data based on iLumen's unique Universal Account Classification Structure (UACS)(tm). iMonitor imports and converts accounting data into UACS so that it can be analyzed by automated routines, and exported to other analysis programs used by banks for credit compliance including Moody's Financial Analyst.
"iMonitor translates accounting data from nearly every PC-based accounting package ever produced into usable, actionable information that has consistency, granularity and industry comparability," said Robert H. Woosley, co-founder and chief executive officer of iLumen. "Prior to iMonitor, data from private companies lacked any uniform structure and often had to be entered by hand, making it difficult to analyze and nearly impossible to benchmark consistently."
iMonitor is currently being integrated into the customer data gathering and analysis processes of major banks and accounting firms across the U.S.
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 financial data warehousing engine, 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.