Riverside College - Finance Management Software System

The contract is set to start on January 1, 2027. The initial duration of the contract will be for 3 years, with an option to extend for an additional 24 months (2 x 12-month periods). This means the initial contract will run until December 31, 2029. If the extension options are exercised, the contract could potentially run until December 31, 2031.

Key milestones and phases include:

• Contract start date: January 1, 2027.
• Implementation Period: January 1, 2027 – May 31, 2027.
• Go Live By: June 1, 2027.
• Initial Contract End Date: December 31, 2029.
• Potential Extended Contract End Date: December 31, 2031.

The core scope of work and Statement of Work (SOW) for this tender involve the supply, implementation, and maintenance of a comprehensive Finance Management Software System.

Key deliverables and requirements include:

• System Modules: Fully integrated Nominal (General) Ledger/Budgeting, Purchase Ledger (Accounts Payable), Purchase Order Processing including Goods Received, Sales Ledger (Accounts Receivable), Cash Book, and an essential fully integrated fixed asset module.
• Software Deployment: Preference for SaaS or Hosted options; otherwise, server elements must run as virtual servers under VMWare vSphere version 7+.
• Accessibility: The system must be fully browser-based for 'normal' users and preferably for power users, and accessible across a wide-area network connecting campuses.
• Integration and Authentication: Support for authentication via Azure Active Directory is preferred, and the software must integrate with other College products.
• Functional Objectives: Accurate and reliable financial data processing and reporting, user-friendliness, a flexible coding structure (including parent/subsidiary, multi-company/currency, and multiple budget/forecast storage), sub-account level analysis for project accounting, support for commercial/entrepreneurial activities (e.g., course contribution analysis), proven monthly/annual close-down processes, and e-Procurement capabilities.
• Implementation: This includes the provision of an implementation plan documenting project structure, monitoring progress, installing a test system and user manuals three months prior to live installation, and setting up the live system one month before the "go live" date of June 1, 2027. A constant named single point of contact is required during the implementation stage.
• Data Migration: The system must support migration and combination of data from two different systems, with details on the process, data preparation/cleansing, and required user involvement/technical expertise.
• Contract Duration: An initial contract term of 3 years, with an option to extend for an additional 24 months.
• Pricing: Tenderers are required to provide fixed prices for the initial 3-year contract term, covering capital & implementation, mobilization, testing, training, hosting, software purchase, on-site technical support, project manager support, and license costs.