iLumen Announces Financial Benchmarking for Private Companies in the Manufacturing Industry
Delivering Valuable Business Intelligence to the Precision Machined Products IndustryFirst in a Series of Industry Announcements for Expanding Financial Benchmarking Availability
Atlanta, GA, January 25, 2006 - iLumen, Inc. announced today that the iLumen Financial Network has made financial benchmarking analysis available for private companies in the US Manufacturing Sector including comparative trend reports for the majority of the sub segments within the sector.
“Members of the iLumen Financial Network now have access to comparative benchmarking trends for key segments within the Manufacturing Sector” said Robert H. Woosley, Chief Executive Officer of iLumen. “The iLumen Financial Information Network is unlike traditional benchmarking offerings because the industry data is comprised exclusively of information contributed directly by private companies. Members of the iLumen Financial Network submit their information, as often as monthly, directly from their accounting systems - enhancing data accuracy and timeliness.”
“iLumen’s benchmarking service is a unique information offering for private companies”, said Tom Murphy, Executive Vice President Manufacturing and Wholesale Distribution of RSM McGladrey, Inc. a leading business services company, headquartered in Bloomington, Minnesota. “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. Understanding how our private business clients compare to their industry peers is an important part of how RSM McGladrey serves our mid-market clients.”
Annual benchmarking coverage is made available when a threshold of participating private companies in the network is reached to guarantee the anonymity of all financial information. Financial benchmarking analysis for additional industries is announced by iLumen as the threshold is achieved industry by industry.
“The iLumen Financial Network is an information portal used by private companies to track their own financial trends against customizable peer groups”, said Woosley. “Members of the network can compare annual trends to averages of like companies in their industry and sort by geography, size and financial attributes. Trend comparisons are updated continuously as private companies submit interim financial information every month.”
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. (www.iLumen.com), an Atlanta-based financial services company, provides a financial information network that enables virtual business communities. iLumen allows private companies to submit, analyze, aggregate and deliver their financial data in collaboration with their trusted financial advisers including banks, accounting firms and other authorized third parties. iLumen connects private companies with leading accounting firms, financial institutions and industry partners in a secure online environment. The company utilizes proprietary (patent pending) technology and business processes to deliver the first and most widely used business financial network of its type.
For more information visit www.ilumen.com or call 888.663.8003. iLumen™ and iMonitor® are trademarks of iLumen, Inc., all rights reserved.