Finance System

Description

The contracting authority intends to procure and implement a modern, integrated Finance, ordering and contract management system to replace its current legacy finance solution. This procurement forms a core component of the organisation’s digital transformation strategy, with the goal of enhancing usability, financial control, transparency, compliance, and operational efficiency across all departments. The new solution is expected to provide comprehensive functionality to support: • Core financials including General Ledger, Accounts Payable, Accounts Receivable, Bank Reconciliation, and Cash Management. • Fixed Asset Management for tracking, depreciation, impairments, and reporting of tangible and intangible assets as well as a non-asset equipment register. • Project Accounting to enable financial control, reporting, and analysis of capital and operational projects. • Planning, Budgeting and Forecasting, with integrated workflows, approvals, and variance analysis. • Contract Costing and Contract Management, supporting the full lifecycle of contract delivery, milestone tracking, and financial oversight. • A robust E-Procurement module for requisitioning, supplier catalogues, purchasing, and integration with procurement frameworks. • Real-time Business Intelligence (BI) and Reporting tools, offering configurable dashboards and analytics aligned to statutory and management reporting requirements. • Automation of Finance Processes (where applicable) and inbuilt AI capability with a clear road-map of development for the future. • Integrated guided learning for users of the system (specifically end-users). • Integration with existing corporate systems such as HR/payroll, procurement portals, and banking systems. The solution should be cloud-based (SaaS preferred), scalable, and support multi-site or multi-entity financial structures. It must comply with UK public sector financial, regulatory, and data protection standards, including DSPT Toolkit, Cyber Security, IFRS, UK GDPR and Data must be held in the EU. The authority is seeking suppliers who can offer end-to-end delivery including: • Software licencing or subscription, • Implementation services (including data migration, integration, testing, and training), • Post-implementation support and system upgrades. The anticipated contract duration is expected to be 5yr plus 5yr with implementation expected to be completed by April 2026. A formal procurement process is anticipated to commence in the autumn of 2025. For our information only please can you log your interest by emailing katy.cooney@locala.org.uk and andrea.mycoe@locala.org.uk by Friday 15th August 2025.