CPAmerica International, a network of more than 70 independent CPA firms, has formed a strategic alliance with financial management and technology firm iLumen Inc., under which iLumen will provide its private company financial data management, monitoring and benchmarking capabilities to CPAmerica's member practices.
CPAmerica members will have access to iLumen's flagship iMonitor product, an electronic financial monitoring platform that gathers, standardizes and analyzes financial reporting data to provide benchmarks and trend analysis for banking, accounting and corporate operations.
IMonitor includes a flexible alerting system that informs advisors of positive and negative trends in client accounts and automates the comparison of a company's financials with both prior-period results and an industry average.
"iLumen's iMonitor delivers a significant advantage to the way a CPA firm serves its private company client base. Our alliance with iLumen will provide an early mover advantage to all of our member firms," said Douglas H. Thompson Jr., president of CPAmerica.
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