Published date: 16 November 2023

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 2 March 2022, 4pm

Contract summary

Industry

  • Financial analysis software package - 48441000

  • Financial systems software package - 48442000

  • Accounting software package - 48443000

    • Accounting system - 48444000

Location of contract

EC2Y 5AS

Value of contract

£75,000 to £170,000

Procurement reference

FRC2022-001

Published date

16 November 2023

Closing date

2 March 2022

Closing time

4pm

Contract start date

31 March 2022

Contract end date

30 March 2025

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

THIS IS A CONTRACT AWARD NOTICE

The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management.
This Notice relates to our Financial Planning & Forecasting System.

The FRC requires a Planning and Forecasting solution with reporting, consolidation, and analysis capabilities. Financial forecasting allows management teams to anticipate results based on previous financial data and expected changes. It will enable the FRC to optimize the forecasting activity to deliver enhanced benefits to the FRC.

The FRC's aim is to procure a cloud-based SaaS application for comprehensive budgeting, forecasting, analysis, and financial reporting. The ideal solution must be suitable for public sector entity.

In addition, the financial forecasting system will allow to automate forecasting processes, forecast the impact of multiple scenarios, and quickly identify where, when, and why actuals differ from the plan, so that the FRC's Finance Team can take appropriate action.

Full details are available in the attached Invitation to Tender (ITT) and associated documents.

NOTE :
The FRC does not anticipate tender bids over £110,000 excluding VAT over the duration of the Agreement.
Note: The FRC reserves the right to reject tenders that exceed this value.

More information

Previous notice about this procurement

Financial Planning & Forecasting System

  • Opportunity
  • Published 9 February 2022, last edited 18 February 2022

Attachments

Additional text

THIS IS A CONTRACT AWARD NOTICE.
THIS RELATES TO PROFESSIONAL SERVICE.

Award information

Awarded date

6 July 2022

Contract start date

6 November 2022

Contract end date

5 November 2024

Total value of contract

£32,500

This contract was awarded to 1 supplier.

ICit Business Intelligence Limited

Address

Mere Hall Business Centre
Bucklow Hill Lane
Mere
Knutsford
Cheshire
WA16 6LE

Reference

Companies House number: 03789243

Value of contract

£32,500

Supplier is SME?

Yes

Supplier is VCSE?

No

About the buyer

Contact name

Head of Procurement

Address

8Th Floor,125 London Wall
LONDON
EC2Y5AS
England

Telephone

020 7492 2300

Email

procurement@frc.org.uk

Website

www.frc.org.uk