ATLANTA, Jan. 25, 2006 (PRIMEZONE) -- 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. 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.
iLumen and iMonitor(r) are trademarks of iLumen, Inc., all rights reserved.
For more information, visit www.ilumen.com.