CCH and iLumen have signed a strategic partnership that will deliver iLumen’s decision analytics and business intelligence software to CCH customers across the country.
The partnership will target CPA firms who utilize the audit engagement functionality in CCH’s ProSystem fx Engagement software. The partnership will help CPAs analyze their business clients’ financial trends, key ratios, debt covenants and industry metrics throughout the year, and advise clients on these findings.
“In today’s competitive environment, it’s important that CPA practitioners have a complete grasp of the financial status of their clients on a regular basis,” said CCH director of product management, accounting and auditing solutions Mike Ritchie. “Because we continually capture client financial data in our applications, the iLumen solutions provide a very logical and powerful enhancement to our offerings.”
In an independent nationwide survey, CCH found that 36 percent of business clients are likely to change CPA firms in 2011. The top reason cited by business clients to prompt a change was that the firm did not regularly check with them on their changing needs. Arming a CPA with financial analysis can help them stay close to their business clients and significantly protect and enhance their key client relationships.
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