ACCOUNTING FIRMS AND CPAs

Integrated Business Client Analysis Systems for CPAs

iLumen powers a wide range of solutions from firm-wide enterprise platforms to single software product solutions for accounting firms and CPAs of all sizes from the single practitioner  to some of the largest accounting firms in the world. Some of our customers include:

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Challenges for Accounting Firms and CRAs

  • The need for growth is driving the demand for more service and industry specialization.
  • Business clients are under economic stress which drives pressure on core services.
  • There is greater pressure to differentiate CPA services as more than a commodity.
  • Concern over client retention and winning new business in a competitive market.
  • Need to create knowledge-based platforms to arm the CPA with information and analysis.

iLumen Solution Overview

  • iDEA™:  Business Client data resides in different systems within a CPA Firm’s environment. iLumen’s Data Exchange Architecture (iDEA) collects, standardizes and delivers business client financial and demographic information from the key systems within the firm. With iDEA, a CPA Firm can easily gain powerful insight into its own business client base and can drill down to individual companies and specific financial attributes and trends. iDEA’s data connectors create a fully integrated and automated client analysis platform which eliminates manual data entry and enables a platform that can be adopted as a standard within the firm’s audit, industry specialty and consulting practices   [learn more].
  • Portfolio Connection™: Portfolio Connection provides an easy-to-use desktop view of your business clients that can be sorted, queried, viewed and reported to power audit, industry specialty, service specialties and general consulting initiatives. Portfolio Connection connects directly to a firm’s client trial balance system enabling an automated platform to power client-specific analytical dashboards and Excel® templates that can be deployed throughout the firm’s environment. Portfolio Connection turns business client analysis from a labor-intensive disconnected process to a firm-wide automated resource that becomes a standard part of the firm’s service philosophy with its business client relationships   [learn more].
  • Customer Connection™: Creating a financial connection between your client and your firm becomes automated and more secure through this customer facing web portal. Automated reminders prompt your business client to send their interim and annual financial data to your firm every month or quarter. A simple upload from any accounting system through a secure, CPA branded web portal automates planning and consulting analytics as trailing 12-month and trailing 4-quarter information is automatically trended, analyzed and compared to the last annual engagement. Customer Connection can automatically present high-level advisor dashboards that enable you to monitor the financial movement of your client and communicate effectively on important trends as they occur during the course of the year   [learn more].

Benefits and R.O.I.

  • Driving new business.
  • Client retention.
  • Leveraging partner time.
  • Enforcing mapping and reporting standards across the firm.
  • Creating best practices in industry groups – analysis, board presentations, etc.
  • Identifying “best” and “risky” clients.
  • Reducing time in planning and preparing reports.
  • Leveraging CPA Firm’s investment in data sources.
  • Leveraging referral sources – industry associations, banks, executive groups.

Implementation and Pricing

  • Pricing is formulaic and based on the number of users and business clients in the system.
  • Please contact us at sales@ilumen.com for customized pricing..