SOURCE: SourceMedia

SourceMedia

September 17, 2010 11:24 ET

SourceMedia, iLumen Announce Launch of WebCPA Client Connection

SourceMedia and iLumen™ Announce a Strategic Partnership to Launch a WebCPA Client Connection Portal for the Broad Market of CPAs, Accounting Professionals and Their Business Clients

NEW YORK, NY and ATLANTA , GA--(Marketwire - September 17, 2010) -

WebCPA Client Connection powered by iLumen will allow CPAs and accounting professionals to power and extend the trusted advisor relationship by monitoring the financial movement of their business clients through an automated client analytics and business intelligence portal. The subscription portal will create efficiency and effectiveness in the way CPAs deliver service to small and mid-market businesses.

SourceMedia and iLumen announced today a strategic partnership to launch a new online client/CPA analytical platform: "WebCPA Client Connection powered by iLumen." The online platform will allow CPAs who serve hundreds of thousands of small and mid-market businesses to automatically monitor and analyze the financial movement of their key business clients in a highly secure and interactive environment.

"The mission of Accounting Today, SourceMedia's leading publication for the CPA community, is to provide actionable information and analysis for the tax and accounting professional," said Rob Whitaker, Senior Vice President & Group Publisher, SourceMedia. "Our CPA subscribers recognize that their business clients are experiencing challenging financial conditions and are very concerned about cash flow. By leveraging the iLumen powered capabilities, CPAs can form a secure 'analytical connection' with each business client, providing them with visibility into the trending performance of their business client on a continuous basis. WebCPA Client Connection is a very powerful tool that increases the role of the CPA as a trusted business advisor and gives them key insights that will allow them to help their small business clients prevail in this challenging economic climate. We're very excited to partner with iLumen." 

"SourceMedia is the premier provider of information, analysis and networking resources for the accounting community," said Robert Woosley, Co-founder, iLumen. "WebCPA Client Connection powered by iLumen will allow a CPA or accounting professional to easily enable their business clients to electronically share their interim financial information from any accounting system with their CPA advisor in a highly secure analytical environment. The CPA receives an analytical dashboard powering a wealth of client financial analysis including, but not limited to, client analysis dashboards, audit and tax planning metrics, bank covenant analysis, key metric trends and industry benchmarking information."

The WebCPA Client Connection is expected to launch in the fall of 2010 and will be delivered as an affordable subscription-based service so that any CPA or accounting professional can enable as few as one client or as many as all of their business clients on the platform. The initiative will also provide the CPA with analytical assessment reports from small business service providers allowing the CPA to evaluate the specific financial impact that a recommended service can have on the balance sheet, income statement and cash flow performance of their clients. The platform will leverage iLumen's unique business-centric service recommendation engine so that best-in-class business and financial services can become visible to the CPA and the business client in a professional and confidential environment.

Business and finance service providers and/or CPAs interested in pre-registering for the platform should contact: sales@ilumen.com.

About SourceMedia, Inc.
SourceMedia, an Investcorp company, is a leading provider of timely and essential news, analysis, research, and insights for members of the financial services community, and the related fields of professional services and technology. SourceMedia offers its clients and subscribers professional publications and online information services, industry-standard data applications and in-depth seminars and conferences.

About Accounting Today
SourceMedia's Accounting Today has served as the premier news vehicle for the nation's tax and accounting community since 1987. Regular coverage includes news and features surrounding tax-law changes, regulatory and legislative updates, technology, financial planning, practice management, mergers & acquisitions and international developments. Accounting Today's readership encompasses one of the widest demographics of any publication in the field, from the sole practitioner, to firms with multi-professionals, to national firms and ultimately, to the Big Four.

About iLumen
iLumen is a leading innovator of decision analytics and business intelligence software solutions, addressing the needs of financial institutions, CPA firms, and those that advise and serve businesses and corporations. As part of its value proposition, iLumen's Software as a Service (SaaS) technology securely and seamlessly automates the collection, standardization, and analysis of financial information from various sources and delivers it to the desktop through its proprietary decision analytics platform and customer intelligence applications.

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