ATLANTA, Feb. 23, 2006 (PRIMEZONE) -- iLumen, Inc. announced today that the iLumen Financial Information Network has made financial benchmarking analysis available for private companies in the US Construction Sector including comparative trend reports for the majority of the sub segments within the sector.
"The growing iLumen Financial Information Network now offers access to benchmarking trends and analysis for members within key segments of the Construction industry," said Robert H. Woosley, Chief Executive Officer of iLumen. "Private companies in the Construction industry are contributing their financial information directly from their accounting software, as often as monthly, into the iLumen Financial Information Network. The demand for this type of financial information service is growing in all industry sectors as private companies continue to look for ways to improve their business practices."
"Sage Software is focused on providing the software tools our partners and customers need to succeed in business," said Taylor Macdonald, Executive Vice President Sage Software, Channel and Sales Operations, Mid-Market Division. "iLumen offers an affordable and powerful information portal that allows private companies to compare annual and rolling twelve month industry trends with their company's financial performance -- giving them an edge in a competitive marketplace."
"Members of the iLumen Financial Information Network track their own financial trends against customizable peer groups based on company size, geography and other financial characteristics," said Woosley. "Members in the Construction industry benefit from comparing trends in metrics such as contract revenue, gross margins and contract receivables with others in their industry."
"The Construction Sector is a major industry focus of RSM McGladrey and our network firms," said Kaye Lauritsen, Executive Director RSM McGladrey Network. "iLumen's service allows private companies to upload their financial information electronically from any accounting system and see directional industry comparisons on an annual or trending monthly basis."
About iLumen Financial Benchmarking
iLumen technologies enable a private business to transmit financial information electronically and anonymously to the iLumen Financial Network and allows the private company to view their company's updated trends, dashboards and industry comparisons. The service is compatible with all electronic accounting packages and provides secure transmission of interim and year end financial information. The iLumen Financial Network covers a growing number of industry sectors, classifications and groups.
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. iLumen(tm) and iMonitor(r) are trademarks of iLumen, Inc., all rights reserved.