Aon Consulting has deployed a Budget solution from Host Analytics, a provider of cloud-based corporate performance management (CPM) solutions, as part of the pensions and benefits funding process for its multinational clients.
According to Aon, the Host Analytics solution leverages an excel-like interface for clients to generate reports and analyze financial exposures, giving them control over their financial risk. The company will develop templates with in the tool to provide financial reporting required under various accounting standards, such as IFRS and USGAAP.
In addition, Host Analytics will be maintaining and upgrading the application and the company will be updating their specific templates with changes in accounting standards and client needs.
Oliver Rowlands, head of retirement for EMEA at Aon Consulting, said: “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.
“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.”