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Aon Consulting Selects Host Analytics

Originally published February 19, 2010

Host Analytics, the leading provider of cloud-based corporate performance management (CPM) solutions, recently announced that Aon Consulting, the global human capital consulting organization of Aon Corporation, is deploying the Host Analytics Budget solution as part of the pensions and benefits funding process for its multinational clients. An enterprise-class financial planning system, Host Analytics Budget was selected after a comprehensive review of financial reporting applications.

"The partnership with Host Analytics will give our clients much greater visibility and control over the pension liabilities in their financial statements, specifically around short and medium term budgeting and scenario testing," said Oliver Rowlands, who is Aon Consulting's Head of Retirement for EMEA. "This advance compared to the traditional method of conducting accounting consolidation will also enable companies to look at de-risking strategies in real time. Further, the time spent by companies in pulling together their financial statements will be considerably reduced."

Prior to deploying Host Analytics Budget, Aon Consulting was using a custom-built application for pension and benefit planning and reporting. The move to Host Analytics Budget was motivated by the desire to provide clients with a "best-of-breed" consolidation and planning tool that still offers the flexibility of their in-house solution, but now with increased performance and functionality. In particular, actuaries can create forecasts up to five years in the future. Likewise, Host Analytics Budget's ability to execute sophisticated "what-if" analysis means Aon Consulting can help clients to implement risk management strategies.

Further, the Host Analytics solution leverages an Excel-like interface, so clients can easily load data to generate reports and analyze financial exposures, thus giving them greater control over their financial risk. Within the Host Analytics tool, Aon will be developing customized templates to provide the financial reporting required under various accounting standards, such as IFRS and USGAAP. Finally, Host Analytics will continually maintain and upgrade the application and Aon Consulting will continually update their specific templates with changes in accounting standards and client needs, thereby ensuring the system retains its competitive advantage.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.