II.1)
Scope of the procurement
ITT for a Finance System for the Royal Academy of Music
Reference number:
EP188
48442000
-
Financial systems software package
Supplies
II.1.4)
Short 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.
II.1.6)
Information about lots
This contract is divided into lots:
no
II.1.7)
Total value of the procurement
Value excluding VAT:
236500.00
GBP
II.2.2)
Additional CPV code(s)
48442000
-
Financial systems software package
48812000
-
Financial information systems
II.2.3)
Place of performance
NUTS code:
UKI3 -
Inner London – West
NUTS code:
UKI -
LONDON
Main site or place of performance:
Royal Academy of Music
II.2.4)
Description of the procurement
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.
Criteria below
Quality criterion
-
Name:
Experience
/
Weighting:
10
Quality criterion
-
Name:
Project Management
/
Weighting:
5
Quality criterion
-
Name:
Implementation Process
/
Weighting:
15
Quality criterion
-
Name:
Technical Requirements
/
Weighting:
35
Price
-
Weighting:
30
II.2.11)
Information about options
Options:
no
II.2.13)
Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
no