Corporations
Would You Like To Have Trending Financial Information From Your Trade Partners Or Franchisees?
Do you extend trade credit?
Do you manage a franchise company? Learn more
What’s Missing In Your Credit Analysis?
Most trade credit decisions are based on available credit scores and payment history. Financial statements may be collected as part of the initial credit decision, but are generally not monitored on an ongoing basis. Without frequent, interim information, your credit managers may not be aware if negative trends occur.
iLumen Gives You the Full Picture on Your Credit Customers
iLumen’s private company financial monitoring service automates and standardizes the gathering, mapping, analyzing and reporting of customer financial data. With iLumen, your credit customers’ financial information is submitted electronically. You get direct access to the information you need and ensure that you and your credit customers are on the same page.
Eliminate Manual Data Collection and Analysis Processes
The processes associated with collecting and analyzing financial statements require numerous hours of manually processing, entering and analyzing data. Using iLumen, your credit customers simply upload a standard file from any accounting system to a web portal with your company’s branding. The file is automatically processed, analyzed and the financial results are delivered directly to your desktop. Manual processes are eliminated and you have the ability to collect interim or annual financial data depending on your needs.
Minimize Default Risk
Without financial data in your credit analysis, you don’t fully understand the risk associated with each credit customer. In order to reduce risk, you need to receive and analyze current and accurate information presented in a standard format. iLumen gives you the ability to receive financial data on an annual, quarterly or monthly basis that allows for real-time credit oversight.
Offer Customers a Valuable Benchmarking Service
Private companies want to know how their business is trending relative to others in their industry. Are costs and margins in line with the competition? Is the company experiencing normal top-line growth trends? By offering iLumen’s industry benchmarking to your customers, they receive industry and customized peer group benchmarking. Learn more
How Well Do You Know Your Franchisees?
Most franchise companies don’t have time, to collect detailed financial information each month or each quarter on your franchisees. Interim information would enable you to determine the health of existing units, specifically trending results over time and to identify opportunities for performance improvement.
If you do or have ever tried to collect and analyze financial data, you know the process is inefficient. You contact each franchisee to ask for financials and then if you receive the information, it’s in multiple formats with varying degrees of completeness and accuracy.
iLumen Gives You a Direct Connection to Your Franchisees
iLumen allows your franchisees to simply upload the trial balance report from their existing accounting software to your secure database, where the information is automatically processed and results are delivered to your desktop. Easily collect annual and interim financial data depending on your needs.
Easy Financial Data Uploads
Submitting data with iLumen is easy and takes less than one minute. All the franchisee needs is a general ledger accounting system and a web browser. The franchisee uploads a standard file that is part of every accounting system to a branded website with your company’s look and feel.
Franchisees Receive a Dashboard of Selected Financial Metrics
Once the data is uploaded, the franchisee receives a summary dashboard with a calculation of key financial metrics and trending charts. The financial metrics can be customized to your business needs as well as specific metrics you would like your franchisees to monitor. Viewing dashboards put you and your franchisee on the same page.
Offer Franchisees a Valuable Benchmarking Service
Companies, especially franchisees, want to know how their business is doing relative to their peers. Is the business experiencing normal top-line growth trends? Are direct costs and overhead costs in line? How do margins compare?
By offering iLumen’s industry benchmarking to your franchisees, they have the ability to measure their financial performance versus other franchisees in your system and others in their industry. Learn more
|
