John Kogan, CEO
In many companies, ongoing, formalized training of corporate finance and accounting professionals has not been taken as seriously as it is in many other functions. For instance, the technology professionals at an organization - the people who build the products and run the IT infrastructure - are trained continuously, with the expectation of continuous pursuit of learning.
To meet this expectation, numerous formalized training platforms have been created for them, and their companies insist they stay current. The same cannot be said of corporate finance and accounting training. Hiring managers and supervisors frequently consider CPAs and CMAs as highly trained individuals and that they don’t need further training. Given that attitude, people in finance have frequently hesitated to ask for training because the expectation was that they were already experts. In some circles, asking for training has been considered a sign of weak skills.
This attitude, however, is changing with the widely acknowledged growing complexity of finance and accounting, which even experienced professionals cannot master without training. They must learn and develop skills, just like software developers, human resource professionals, and others in the corporation. In addition, many must earn the Continuing Professional Education credits (CPE) that are required to maintain their professional certifications.
As the corporate finance and accounting sector has long been underserved in Learning and Development, there have been limited LMS options. Seeing this void, John Kogan, an experienced CFO, resolved to address the issue by building Illumeo, a specialized LMS platform for professionals in audit, accounting, and corporate finance.
In a world of generic online learning and LMSs, anyone can create and teach a course with just surface-level knowledge and upload it on learning platforms anytime. However, Illumeo stands apart from these open learning platforms to reach the expectation of its corporate client base through their incredible breadth and depth of content, variety of CPE credits, experienced, practitioner-instructors, and the platform Illumeo built to support the highly specialized training needs of their user base. The company was built from the ground up to be a solution for corporate finance and accounting organizations.
The amount of pride Mr. Kogan takes in the present state of the Illumeo platform is apparent when he notes, “Illumeo offers over 1,250 technical finance, accounting and related courses, designed to meet the professional education requirements of professionals across the globe. Illumeo provides CPE for 29 professional designations in finance, accounting and human resources while most other learning platforms offer just one or perhaps a few at most.” The company supports training the global finance organizations and individuals in the field with numerous courses in areas such as finance, accounting, treasury, tax, risk management, leadership, and many more.
Illumeo offers over 1,250 finance and accounting courses, designed to meet the professional education requirements of corporate finance and accounting professionals
To enable this learning experience, the company has qualified over 250 instructors who have been through an extensive ten-point selection process that examines their industry and functional experience and practical knowledge as well as their teaching capabilities before they can build their first course. Via over 100,000 course ratings and reviews, Illumeo and their massive instructor corps receive constant feedback, direct from users, which is instrumental in maintaining quality. In addition, the learner can ask questions of their instructor whenever they want, even with on-demand courses.
Illumeo’s wide repertoire of courses may seem intimidating to navigate. To that end, Illumeo has built both simple yet powerful search and a ‘competency assessment’ tool, which allows the individual or their manager to run a quick competency assessment process that uncovers knowledge gaps at all levels and across all functions. Illumeo’s Competency Assessment tool then recommends courses utterly tailored to the needs of the individual. This turns the normally arduous task of development planning into a far more scientific and simple process.
In the corporate or accounting firm environment, once the courses are assigned, managers can use the extensive reporting of Illumeo to see all important details of the employees’ learning, including the number of courses enrolled and completed, the number of CPE credits earned, progress against their development plans, and much more. Illumeo brings in gap assessment, development planning, CPE, and powerful reporting. It truly is the one platform that ensures top-quality professional development for firms and organizations to train their skilled employees in corporate finance and accounting.
Illumeo has a number of leading global audit firms and corporations as clients. Illumeo refers to a global finance organization with more than 2,500 employees as a typical success story. Having diverse learning needs across four continents, the organization required significant manager travel in order to give the same skills training over and over in different locations around the globe. They brought in Illumeo, who worked with the key managers to build a customized internal training program where the subject matter experts of Illumeo collaborated with the organization’s professionals to build world-class, on-demand training. They then deployed both their new, custom training with Illumeo’s 1,250+ course library and development planning tools to entirely replace their expensive and time-consuming ‘travel training’ program. This program helped the organization deliver great training globally, track the learners’ progress, report in it, and see the real-world benefits of the learning.
Illumeo considers their differentiating factor to be the tight integration of massive course library, the most CPE available in one platform, easy to use and highly effective tools, and the best user management and reporting available for managers and Learning and Development/HR professionals. They include custom training delivered to clients globally in a highly secured manner, highly professional instructors, a user-friendly platform, and finally, the ultimate focus on corporate finance and accounting professionals. Illumeo looks to the future with great positivity as the COVID pandemic has brought distance learning to the forefront. The company is constantly launching new courses and working on new methodologies to make distance learning even easier.