ATLANTA, Nov. 2, 2004 (PRIMEZONE) -- CPAmerica International, one of the world's largest networks of CPA firms, and iLumen, Inc., a financial management and technology firm, have formed a strategic alliance to provide iLumen's private company financial data management, monitoring and benchmarking capabilities to CPAmerica's member practices.
iLumen's financial monitoring platform, iMonitor(r), provides client portfolio management for acquiring, analyzing and communicating electronically enabled financial accounting data directly to a CPA's desktop.
"CPAmerica member firms are leaders in their respective markets and are constantly striving for ways to deliver enhanced service to their clients," said Douglas H. Thompson, Jr., president of CPAmerica. "iLumen's iMonitor delivers a significant advantage to the way a CPA firm serves its private company client base. Our alliance with iLumen will provide an early mover advantage to all of our member firms."
"Business clients look to their CPA for insight, advice and direction," said Charles Hoyman, managing director of Hoyman, Dobson & Company and chairman of the board of CPAmerica International. "CPAmerica has entered an alliance with iLumen to provide our members with special access to the iMonitor platform which will provide them with a powerful advantage in serving and advising their business clients."
iLumen develops Web-based systems to streamline the transmission of private company financial data and produce real-time analysis and benchmarking. The company's flagship product, iMonitor, is an electronic financial information platform that enables oversight for banking, accounting and corporate operations. iMonitor gathers, standardizes and analyzes financial reporting data to provide next generation standards-based benchmarks and trend analysis.
"iMonitor translates accounting data from PC-based accounting packages into usable, highly actionable information that has consistency, granularity and industry comparability," said Robert H. Woosley, co-founder and chief executive officer of iLumen. "iMonitor eliminates manual processing of customer submissions and enables continuous oversight of financial performance. A flexible alerting system in iMonitor informs advisers of both positive and negative trends in client accounts along with automating the comparison of a company's financials with both prior period results and an industry average. In the long run, iMonitor will help CPAmerica member firms better connect with their clients during the year and anticipate the impact of their financial and business actions."
CPAmerica is a network of more than 70 large, independent CPA firms across the United States and, in alliance with Horwath International, more than 10,000 CPAs and consulting firms in 85 countries around the world. Some CPAmerica firms have already begun using iMonitor.
"We use iMonitor and it allows us to gather and analyze our client's financial trends and stay in closer touch with them throughout the year," said Ronnie Greer, managing partner of CPAmerica Nashville, Tenn., affiliate Work & Greer, PC. "iMonitor provides a clear differentiator in the way we serve our private company clients."
About iLumen, Inc.
iLumen, Inc. is a financial information and technology firm that develops web-based systems to streamline the transmission of private company financial data, and to produce real-time analysis and benchmarking. The Company's flagship product, iMonitor(r) (patent pending), is an electronic financial information platform that enables oversight for banking, accounting and corporate operations. iMonitor gathers, standardizes and analyzes financial reporting data to provide next generation standards-based benchmarks and trend analysis. 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.
For more information, visit www.ilumen.com or www.cpamerica.org.