May 12, 2014 – Accenture has launched a new enterprise solution to help public pension plan administrators take advantage of the flexibility and cost savings of a commercial off-the-shelf technology system.
The system, Accenture’s Enterprise Solution for Pensions (AESP), is based on Oracle’s PeopleSoft applications, Oracle Middleware, and Oracle technology. The company says it incorporates more than 30 years of experience implementing the capabilities needed by public pension organizations that serve tens of millions of people.
AESP’s flexibility enables faster and more cost-effective pension system operations and provides organizations with greater flexibility and the agility needed to adapt as policies change. It provides the business functionality required by modern public pension programs, including member and retiree management and administration, employer administration and contribution, payroll and payment management.
“Public pension organizations face major opportunities to develop modern technology capabilities while controlling costs,” says Owen Davies, who leads Accenture’s public pension practice in North America, based in New York. “Accenture’s initiative leveraging Oracle solutions offers tremendous capabilities at the leading edge of the industry.”
“Accenture has significant subject matter expertise in this space, as well as extensive skills to leverage Oracle’s PeopleSoft Pension solution along with additional Oracle assets, including Oracle Policy Automation, for a complete offering,” says Paco Aubrejuan, senior vice president and general manager, Oracle’s PeopleSoft. “Together, Accenture and Oracle can provide publicly funded pension systems the flexibility to modernize their systems in a cost effective manner while utilizing a comprehensive solution.”
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