ATLANTA, July 20, 2004 (PRIMEZONE) -- iLumen Inc., a financial information and technology company headquartered in Atlanta, today announced the filing of a patent application on behalf of its wholly-owned subsidiary, iLumen Information Services, Inc. The patent covers the secure, permission-based exchange via the Internet of private company financial information for corporate credit and supplier monitoring. This application is the second in a series for iLumen's iMonitor(r) data gathering and warehousing technology which powers the iLumen Information Services offering.
"The automated permission-based exchange of internal financial data by a submitting company is a unique capability for credit and supplier monitoring," said Robert H. Woosley, co-founder and chief executive officer of iLumen. "It facilitates the sharing of data between trade partners and it allows a submitting company to be in control of their financial data at all times. In the long run, permission-based exchange using iMonitor will improve accuracy and lower credit risk by providing companies and their trade partners with access to more frequent and granular credit information."
iLumen Information Services is a financial information clearinghouse that gathers, analyzes, hosts and electronically delivers private company data to approved requestors as directed by submitting companies through an automated system. The service enables subscribing businesses to streamline the management of trade credit, default and business interruption risk, and eliminates the manual processes associated with data acquisition. iLumen Information Services is powered by iMonitor technology, an emerging financial data technology standard in the banking industry and CPA profession. www.ilumeninfoservices.com
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 oversight within the banking, accounting and corporate environments. iLumen's services are based on a proprietary (patent pending) 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.