SOURCE: Host Analytics

Host Analytics

February 18, 2010 07:00 ET

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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Contact Information

  • Media Contact:
    Kevin Wolf
    Host Analytics
    650-327-1641
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