The National Truck Equipment Association (NTEA) has joined the iLumen Financial Information Network, through which NTEA members will be able to trend their companies’ financial performance through analysis and benchmark their performance against their peers.
Companies participating in the iLumen Network upload their monthly financial data into the system, where it is then automatically standardized for comparison across a range of metrics. NTEA members using the iLumen Network will access a proprietary financial dashboard to see how their operations have performed over time and in comparison to other businesses in the same industry, region and/or size. Members will be able to view high-level performance trends and then drill down to detailed financial analysis. They will also benefit from learning about the latest industry trends from iLumen analysts and gain insights into challenges and opportunities through webcasts and reports.
“The iLumen Financial Information Network is an outstanding resource to help our members continuously improve their businesses,” said Jim Carney, NTEA executive director. “By simply sharing the information they already compile every month, they will receive immediate feedback on top-line growth, profit margins, cash flow, inventory turns and more. They can then use this information to make adjustments as necessary to be more competitive.”
Members’ individual financial information is kept confidential - only aggregate numbers and trends are shared. As a member benefit, the NTEA will underwrite the first year costs of iLumen Network participation.
More information about the iLumen Network will be available on www.ntea.com, in future issues of NTEA News and in the NTEA Insider.
For more information about the NTEA, visit www.ntea.com, or call 1-800-441-NTEA (6832). For additional information about the iLumen Network, visit www.ilumen.com or call 1-888-663-8003.