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House of Fraser
London Regional
Transport
BUPA
Exel
Trustees Ltd
‘OpenAIR Accounts is
a vast improvement from our previous time-consuming
manner of producing accounts through struggling with spreadsheets.
OpenAIR Accounts was the obvious solution to meet our scheme's
specific pensions accounts needs from control over payments to multiple
users' access. The application has proven to be a valuable resource
for both the scheme's accounting and the board of trustees'
Kathryn
Foster, Head of Compensation & Benefits
House
of Fraser
'The London Regional
Transport Pension Fund is a long-time user of Euraplan's Treasurer and
Shareholder software and is in the process of upgrading to OpenAIR
Accounts and OpenAIR Investments.
The
fund values the straight forward approach to fund accounting adopted by
Euraplan and the ability to generate SORP compliant accounts directly
from the system is particularly valuable and may indeed be unique.
Also
of great importance to us is the ability to monitor investments in-house
and reconcile our data to our investment managers and our global
custodians thus providing an audible triangulation of control all tied
back to the underlying accounting records.
The
software is now enabling us to monitor and thus control transaction
costs at a manager/broker and foreign exchange deal level.
We
have considered standard accounting software but found OpenAIR Accounts
offered a more wide ranging, more effective and cheaper solution, which
avoided the need for scheme-specific tailoring.'
Chris
Angell,
Fund Secretary
London Regional
Transport Pension Fund
'We
chose the OpenAIR software to achieve a range of business critical
success factors for the pensions department.
Other
reasons why this product was selected over other options include:
The best functional
fit - 97% of business requirements
Strategic fit with
BUPA's existing hardware and
architecture.
Cost and time
reductions for external audits
Euraplan does the
set-up of the account structure prior
implementation on site, hence the system can be
used
from day one.
For
instance, since its implementation in 2001, the OpenAIR system has
enabled us to have one pensions accounting system in use which satisfies
the external auditors and the Occupational Pensions Regulatory Authority
(Opas).
Also,
we have been able to reduce the cost of the external audit for 2001
compared to 2000, by reducing the length of time required to conduct the
audit and by not exceeding the expected costs.'
Steve
Dalton,
IS Project Manager
BUPA
'OpenAIR
Accounts has provided Exel plc with the modern technology needed in
managing the accounting function of a £2 billion pension fund.
Its
flexibility, ease of use and functionality is far beyond the reach of
other accounting systems.
OpenAIR
Accounts will also assist the Exel Pensions Department in improving
the service to the pension scheme members, through the ability to
integrate it with the Department's other systems.'
Jimmy
Walker, Pensions
Manager
Exel Trustees Ltd
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