ATLANTA, May 3, 2005 (PRIMEZONE) -- The BDO Seidman Alliance, a nationwide association of independently owned local and regional CPA firms, and iLumen Inc., a financial information and technology company headquartered in Atlanta, today announced a strategic relationship to provide financial monitoring and benchmarking services to BDO Seidman's alliance member firms. The BDO Seidman Alliance is a professional affiliation of over 250 independent accounting and consulting firms. The BDO Seidman Alliance is affiliated with BDO Seidman, one of the largest professional business services firms in the United States.
"iLumen is the leader in private company financial monitoring and benchmarking technology and services," said Michael O'Hare, Executive Director, BDO Seidman Alliance . "BDO Seidman Alliance firms are among the leaders in providing professional services to private businesses. iLumen's services will allow our alliance firms to electronically receive, continuously monitor and benchmark private company financial information from each of their business clients."
"iLumen's service provides a simplified method for our clients to submit monthly financial information electronically through a secure data portal," said John Carpentier, partner with Tarpley & Underwood (a BDO Seidman Alliance CPA firm). "We use iLumen's services to monitor growth or decline in key financial metrics, as well as to evaluate trends and make benchmarking comparisons. Our CPAs and clients immediately receive analysis, alerts and information on the financial condition of their businesses. With iLumen's technology, we have a competitive advantage in the marketplace. Now we can react to the changing financial condition of our clients during the course of the year, enabling us to build far better client relationships."
"Before iMonitor, private companies had no effective way to understand if their business was growing as compared to relevant industry peer groups," said Robert H. Woosley, co-founder and Chief Executive Officer of iLumen. "Clients of BDO Seidman Alliance firms will now have the ability to close out their interim books and in one step upload their information to their CPA and see trending industry comparisons on a trailing twelve month, trailing quarterly and annual basis. The result is a better informed CPA and a better served private company."
About BDO Seidman
BDO Seidman, LLP is a national professional services firm providing assurance, tax, financial advisory and consulting services to private and publicly traded businesses. For more than 90 years, we have provided quality service and leadership through the active involvement of our most experienced and committed professionals.
BDO Seidman serves clients through more than 30 offices and 250 independent alliance firm locations nationwide. As a Member Firm of BDO International, BDO Seidman, LLP serves multi-national clients by leveraging a global network of resources comprised of more than 600 member firm offices in 105 countries. BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country
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.
For more information visit www.ilumen.com or call 404-446-1600. iLumen(tm) and iMonitor(r) are trademarks of iLumen, Inc., all rights reserved.
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