OpenAIR Accounts
Pension Accounting System

#

OpenAIR Accounts is a pension accounting system. It provides control over all pension schemes' financial operations.

OpenAIR the name stems from the core objective of furnishing an open system for Accounts, Investment and Reconciliation, has two modules, an Accounts module and an Investment module.

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 XP/Vista/7/8/10 and is designed to operate with any ODBC compliant RDBMS. OpenAIR is fully compliant with Open Database Connectivity (ODBC) relational database and standard report writer.

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.
  • 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 accountants.

Want to learn more, or have any questions?
Email info@euraplan.co.uk

"We at Xerox Global Benefit Administration have enjoyed using OpenAIR accounts for a number years for an ever increasing portfolio of clients simply because it is the right tool for the job."

Simon Trafford,
Pension Services Manager
Xerox
Global Benefits Administration


"OpenAIR Accounts satisfies all our needs for SORP and in-house reporting and analysis."

Chris Norton,
Financial Controller
Lafarge (UK) Services Ltd