Press Release
iLumen Unveils Corporate Tax Monitoring for CPAs
Expanded Tax-oriented Monitoring Capabilities Allow CPAs and Business Clients to Monitor, Analyze and Manage Tax Liabilities
ATLANTA, GA, April 8, 2004
iLumen Financial Monitoring, Inc., a subsidiary of iLumen, Inc., today announced a new suite of tax management and data analysis capabilities within the iLumen Business Client Portfolio Monitoring Service for CPAs, powered by iMonitor® technology. The Tax Monitoring Dashboard enables CPAs to automatically monitor and highlight tax related changes across their portfolio of business clients throughout the year.
“The Tax Monitoring Dashboard is a powerful, up-to-date information digest of the tax status of a private company,” said Robert H. Woosley, co-founder and chief executive officer of iLumen. “Without an effective system to frequently capture and analyze interim financial data across a CPA firm’s business client base, the tax planning process is reactionary and often too late to make meaningful adjustments. This new tax monitoring feature enables accountants to transform and automate the tax planning process from a “one-time” undertaking to a continuous interaction based on updated client information during the course of a year.”
The Tax Monitoring Dashboard incorporates automated tax status calculations that model tax liability based on key factors including: an analysis of annual, quarterly or monthly taxable income, estimated tax liability and accumulated tax payments.
The iLumen Business Client Portfolio Monitoring Service for CPAs is powered by iMonitor technology, an electronic financial information platform that gathers, standardizes and analyzes reporting data to enable financial oversight. iMonitor uses a proprietary (patent pending) account mapping and data warehousing engine along with standardization technology to simplify the submission of interim accounting data through secure iMonitor-powered portals within customer-branded web sites. CPA firms use this service to allow large numbers of private-company business clients to upload financials, which are analyzed and the results are delivered directly to the desktop of the CPA.
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® 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™ and iMonitor® are trademarks of iLumen, Inc., all rights reserved. |
