| OpenAIR
Concept
OpenAIR is a financial reporting
system, designed specifically with the pension fund in mind. OpenAIR Accounts provides
control over all the pensions schemes’ financial operations. The system integrates
securely with administration systems, payroll systems and investment managers and
custodians. It ensures that the most efficient, automatic data entry methods are used to
offer time and cost savings.
OpenAIR dovetails into existing IT strategies by using the latest
application development technology (backed by industry standard Relational Database
Management Systems). The software can operate on Windows 2000/XP/Vista/7
and is designed to operate with any ODBC compliant
RDBMS.
OpenAIR is fully compliant with Open
Database Connectivity (ODBC) relational database and standard
reportwriter.
Business
Benefits
- Secures central
financial control.
- Provides
multi-scheme reporting.
- Reduces data
duplication and incorrect entries.
- Minimises
potential for fraud.
- Speeds up payment
process.
- Controls access to
secure payments system.
- Facilitates
flexible and rapid enquiry.
- Produces regular
management accounts.
- Reduced audit
fees.
- Offers potential
for ad hoc financial analysis.
- Expense budgeting.
- SORP compliant.
- Multi-currency
reporting.
Reporting
Process
- Contributions
analysis.
- Cashflow.
- Expense budget.
- Bank
Reconciliations.
- Fund account and
net asset statement.
- SORP notes to the
accounts.
- Ad hoc financial
analysis.
- Flexible reporting
structure.
Payments
Process
- Administrates request for payment.
- OpenAIR collects and validates data.
- OpenAIR authorises payment.
- OpenAIR generates payment file.
- OpenAIR allocates cheque numbers.
- OpenAIR bank reconciliation.
Customer
Service
- Remote database
administration.
- On-site
implementation and training.
- Application
software support.
- Full-time helpdesk
support (8.30am-5.30pm).
- Software upgrades.
- In-house
professional advice from qualified pension accounts.
Download
Further Literature & SORP Reports
OpenAIR Accounts -
Introduction (183 KB)
OpenAIR Accounts - How OpenAIR can
help you (157 KB)
OpenAIR Accounts - System &
Technical Overview (969 KB)
OpenAIR Accounts - SORP Reports
(2,417 KB)
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