Press Release
iLumen Releases Version 2.1 Of iMonitor
Latest Version Of Financial Analysis And Benchmarking Network Offers Expanded Data Gathering, Mapping and Analysis Technology
ATLANTA, GA, July 9, 2003
iLumen Incorporated, a financial information and technology company headquartered in Atlanta, today announced the release of Version 2.1 of the iMonitor® financial monitoring and benchmarking network. iMonitor is an automated system for electronically gathering and analyzing financial reporting data from small mid-market enterprise (SME) customers to provide next generation standards-based benchmarking and trend analysis to the banking and accounting industries.
iMonitor 2.1 includes capabilities and performance enhancements that will benefit both bank and CPA implementations of the technology. Built on a modular 3-tier architecture to ensure data integrity and scalability, new features include an automated browser-based data import engine that enables the uploading of financial information from any end-user accounting software as well as from CPA trial balance systems.
“iLumen has devoted significant resources towards expanding the development and infrastructure roll-out of iMonitor,” said Robert H. Woosley, co-founder and chief executive officer of iLumen. “This new version incorporates some of the most advanced data analysis features along with fully automated alerting and e-mail notifications based on variance thresholds and benchmark targets. Version 2.1 is being rolled out immediately for production use by iMonitor’s charter customers.”
New data management capabilities of iMonitor 2.1 include data cleansing, financial account standardization, and automated data mapping technologies to streamline the data workflow. iMonitor 2.1 also supports and incorporates the latest XBRL (eXtensible Business Reporting Language) standards for data export and for moving data between the network and CPA and bank systems. XBRL is the XML-based standard for identifying and communicating complex financial information, making the exchange of financials easier and more reliable.
A new relational database backend along with centralized data storage are the foundation for the benchmarking and trending capabilities of the network. iMonitor 2.1 provides a data repository of private company financial data that is continuously updated with periodic submissions of required and requested financial and operational information from the customers of participating banks and CPA’s.
iMonitor has the ability to evaluate trends and peer group comparisons to report changes (growth, decline, etc.) in key financial metrics. As the knowledgebase expands, iMonitor will track individual metrics as they change monthly, quarterly or on a trailing twelve-month basis. This provides a statistically valid analysis to help monitor how a company’s performance compares to the industry, or the regional/national economy. The benchmarking knowledgebase will provide a real-time view of the growth or decline of a given market segment for banks, CPA firms, industry groups or trade associations.
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. |
