ITT for a Finance System for the Royal Academy of Music
A Contract Award Notice
by ROYAL ACADEMY OF MUSIC
- Source
- Find a Tender
- Type
- Contract (Supply)
- Duration
- 5 year (est.)
- Value
- £236K
- Sector
- TECHNOLOGY
- Published
- 17 Oct 2023
- Delivery
- To 20 Sep 2028 (est.)
- Deadline
- n/a
Concepts
Location
Royal Academy of Music
2 buyers
- Royal Academy of Music London
1 supplier
- Embridge Consulting Northfleet
Description
The Academy requires a finance system to manage which needs to meet a range of requirements to support the financial management and reporting needs of the Academy.
Total Quantity or Scope
The Academy requires a finance system to manage which needs to meet a range of requirements to support the financial management and reporting needs of the Academy. Some high level requirements for a finance system at Academy include: • Financial management: The system should provide tools for managing the Academy's financial resources, including budgeting, accounts payable and receivable, general ledger, and financial reporting. • Integration with other systems: The finance system should integrate with other systems used by the Academy, such as I-Trent payroll and HR system, and Quercus student record systems, to ensure data consistency and reduce data entry. • Grant and contract management: The system should provide tools for managing grants and contracts, including tracking expenses and revenue, invoicing, and compliance reporting. • Procurement management: The system should support procurement processes, including purchasing, vendor management, and contract management. • Asset management: The system should allow the Academy to track and manage its physical assets, including equipment, vehicles, and buildings. • Compliance: The system should support compliance with financial regulations and standards, such as GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) guidelines. • Reporting and analysis: The system should provide reporting and analysis capabilities to support decision-making and strategic planning. This includes dashboards, ad-hoc reporting, and data visualisation. • Security and access control: The system should provide robust security and access controls to protect financial data and ensure appropriate access to information by authorised personnel. • Scalability: The system should be scalable to accommodate the financial needs of a growing Academy, including expansion into new programs, research, and other initiatives The successful supplier is expected to be awarded a contract for 10 years.
Award Detail
1 | Embridge Consulting (Northfleet)
|
Award Criteria
Experience | 10.0 |
Project Management | 5.0 |
Implementation Process | 15.0 |
Technical Requirements | 35.0 |
PRICE | 30.0 |
CPV Codes
- 48442000 - Financial systems software package
- 48812000 - Financial information systems
Indicators
- Award on basis of price.
Reference
- FTS 030558-2023