Accenture Joins with CedarCrestone and Oracle to Accelerate Enhancement of Oracle’s Public Sector Pension Solution
April 15, 2010, 12:58 pm
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RESTON, Va.; April 15, 2010 – Accenture (NYSE: ACN) and CedarCrestone, leading providers of implementation services to both the commercial and public sectors, and Oracle will be collaborating on the enhancement of Oracle’s Public Sector Pension Solution to better meet the needs of the United States federal, state and local public sector marketplace around pension plan management. Leveraging the strength of Oracle’s breadth of product offerings, and the experiences of Accenture and CedarCrestone, the three organizations are working together and making incremental investments to extend the existing solution.

Public sector retirement plans are unique when compared to most private sector plans. Public Sector organizations primarily use defined benefit plans, meaning the government employer promises a specified monthly benefit upon retirement based on employees’ earnings history, service tenure and age, rather than depending on investment returns. Due to the long-term existence of these plans and participation by multiple employers, these defined benefits plans are typically complex with regards to benefit eligibility and determination and are subjected to a myriad of complicated business processes and rule permutations.

Accenture, CedarCrestone and Oracle are working together to provide enhancements that specifically support the challenges faced by the public sector. The software enhancements are aimed at enabling government entities with more easily managed participant-centric pension plans. Potential targeted improvement areas include end-to-end business processes, such as service purchasing as well as overall improvements in rule configuration and reporting.

Oracle is uniquely positioned as a major vendor offering an off-the-shelf pension software solution. The broader Oracle solution set includes Oracle Customer Relationship Management (CRM), Oracle Content Management, Oracle Governance, Risk and Compliance (GRC) and industry leading technology capabilities. These offerings can provide organizations with a single vendor for their entire pension solution.

“We are very pleased that Accenture has joined forces with Oracle and CedarCrestone to better meet the distinctive needs of public sector organizations,” said Kevin Curry, Application Sales Group vice president, Oracle Public Sector. “Working together, we hope to help enable government entities to more easily manage participant-centric pension plans.”

Accenture, a Global Oracle PartnerNetwork Platinum Partner, provides a wide range of experience in multiple Oracle products and leading industry knowledge in creating an enhanced pension solution. Accenture has one of the largest Oracle enterprise solutions practices among full-service integrators, with more than 48,700 Oracle-skilled professionals and more than 4,900 Oracle projects completed or underway. 

“Accenture is pleased to join these world-class companies to help create the next-generation pensions solution,” said David McCurley, Accenture’s global managing director for human services. “By combining the resources of Accenture, with the world’s largest global pension practice, the pragmatic experience of CedarCrestone and a proven platform represented by Oracle’s pension assets, we can provide our clients with a solution that addresses the challenges they face. This effort continues Accenture’s investment in an integrated Oracle-based social services suite, and in bringing these solutions to our clients around the world.”

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with more than 181,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is www.accenture.com.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle’s partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle’s growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more visit

http://www.oracle.com/partners.

About CedarCrestone

As an Oracle PartnerNetwork Platinum Partner, CedarCrestone has staff with required qualifications and experience, based on multiple public sector pension implementations, which can be dedicated to deliver a leading pension administration solution. These resources not only have Oracle-specific experience but include industry veterans in both the public and commercial retirement sector.

Trademarks

Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates.

 
 

Contact:          

Joe Dickie

Accenture

+1 512-694-6422

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