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CCH and iLumen Announce Partnership to Provide Automated Client Financial Analysis and Business Intelligence Platform for Accounting Firms Using ProSystem fx Engagement
Partnership Enables CPA Firms to Leverage Technology to Power Trusted Advisory Services, Extends Client Relationships Using Cloud-based Client Analytics Platform
(RIVERWOODS, ILL. AND ATLANTA , GA. , December 8, 2010) – CCH and iLumen™ announced today a strategic partnership that will deliver iLumen’s suite of decision analytics and business intelligence software solutions to CCH customers across the country. The partnership will specifically benefit CPA firms who utilize the audit engagement functionality in CCH’s award-winning ProSystem fx® Engagement software solution.
“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 Mike Ritchie, CCH Director of Product Management, Accounting & Auditing Solutions. “The ability for a CPA to efficiently analyze financial trends, key ratios, debt covenants and industry metrics throughout the year is critical to the CPA’s role as a trusted advisor. Because we continually capture client financial data in our applications, the iLumen solutions provide a very logical and powerful enhancement to our offerings.”
“CCH is the leader in providing software solutions and guidance for the accounting profession,” said Loren Eckart, Co-founder and Executive Vice President of iLumen. “iLumen’s analytical platform extends the reporting and analysis value for ProSystem fx Engagement users in a secure Software as a Service (SaaS) platform. Our seamless integration with Engagement enables the CPA practitioner to deliver thoughtful and informed financial observations to each client as a natural extension of daily workflow on the CCH ProSystem fx Engagement platform.”
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 ‘ If the firm does not regularly check with me on my 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.
“Our partnership has been forged over several years of collaboration with the CCH product team working with mutual customers,” said Eckart. “ ProSystem fx Engagement users will now enjoy the ability to take client financial data residing in Engagement and instantly transform that information into intelligence that takes their client conversations to new levels.”
“CCH is continually looking for solutions that solve our CPA customers’ most pressing business needs, “said Ritchie. “The market excitement around our new Knowledge Coach audit workflow tool, the integration of our software and research products, and now our venture into business analytics with iLumen shows we’re passionate about providing an end-to-end solution for accounting and audit professionals.”
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.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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