Source: Host Analytics, Inc.
Aon Consulting Selects Host Analytics to Offer Pensions and Benefits Financial Reporting and Budgeting to Its Multinational Clients
REDWOOD CITY, CA--(Marketwire - February 18, 2010) - Host Analytics, the leading provider of
cloud-based corporate performance management (CPM) solutions, today
announced that Aon Consulting, the global human capital consulting
organization of Aon Corporation (NYSE: AON), 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.
About Aon Corporation
Aon Corporation (NYSE: AON) is the leading global provider of risk
management services, insurance and reinsurance brokerage, and human capital
consulting. Through its more than 36,000 colleagues worldwide, Aon readily
delivers distinctive client value via innovative and effective risk
management and workforce productivity solutions. Aon's industry-leading
global resources and technical expertise are delivered locally through more
than 500 offices in more than 120 countries. Named the world's best broker
by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked
highest on Business Insurance's listing of the world's largest insurance
brokers based on commercial retail, wholesale, reinsurance and personal
lines brokerage revenues in 2008 and 2009. A.M. Best deemed Aon the number
one insurance broker based on brokerage revenues in 2007, 2008, and 2009,
and Aon was voted best insurance intermediary, best reinsurance
intermediary and best employee benefits consulting firm in 2007, 2008 and
2009 by the readers of Business Insurance. For more information on Aon, log
onto http://www.aon.com.
About Aon Consulting
Aon Consulting is among the top global human capital consulting firms, with
2008 revenues of $1.358 billion and more than 6,300 professionals in 229
offices worldwide. Aon Consulting works with organizations to improve
business performance and shape the workplace of the future through employee
benefits, talent management and rewards strategies and solutions. Aon
Consulting was named the best employee benefit consulting firm by the
readers of Business Insurance magazine in 2006, 2007, 2008 and 2009. For
more information on Aon, please visit www.aon.mediaroom.com.
About Host Analytics
Host Analytics helps executives see the full implications of decisions --
both risk and reward. Our leading on-demand corporate performance
management (CPM) solution helps financial executives improve budgeting,
forecasting, financial consolidations, dashboarding, scorecarding,
reporting and analysis. Most importantly, it helps drive fact-based
decisions based on sound financial justification. Host Analytics delivers
its product suite using Software as a Service (SaaS) on-demand delivery to
increase security while reducing cost and deployment time. Founded in 2000,
Host Analytics serves enterprise, large, and midsize companies across
industries. Host Analytics was included in JMP Securities' prestigious "Hot
100: The Best Privately Held Software Companies" and was the recipient of
the Best of SaaS Showplace Award from market research firm THINKstrategies.
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Kevin Wolf
Host Analytics
650-327-1641