Company and organisational data explorer - toolkit sandbox

Description

Summary of work The FRC is seeking a partner to develop a sandbox toolkit to allow the ingestion of XBRL data and files, processing, structuring, enhancement, and storage of the raw and iterative data sets. Use of the data would be through a set of data tools and connection to visualisation software and connection to SQL databases for analytics. Once developed, the providerproviders would support the FRC in running at least two design sprints (using Double Diamond framework - https:www.designcouncil.org.ukour-resourcesthe-double-diamond - or similar) focused on certain use s and enhancing the resultant data visualisations, dashboards and tools as agreed. The providerproviders would provide full support for the sandbox during the contract period (15 April 2024 to 28 Feb 2025) and assist the closure of the system at the end of the contract. The objective of the project is to: • Design and specify an Azure based data platform utilising Microsoft ETL tools, such as Synapse or Data Factory, with appropriate security and governance controls, including Cyper Essential Plus compliant. • Create a sandbox platform to ingest, store, process and visualise XBRL data (see Architecture Diagram for details) • The design will include network architecture, data orchestration architecture, security architecture, storage and encryption of raw and iterative data sets, and monitoring and event analytics. Encryption needs to meet AES 256 standards. Monitoring and event analysis needs to cover both authorised used and intrusion detection. • Work with the FRC and partners to run a series of design sprints (at least 2) focused on certain use s and enhancing the resultant data focused on optimising the capabilities of the sandbox to meet specific needs. • Support the sandbox platform for at least 10 months. • Deliver training to increase data management and data transformation skills using a Microsoft Azure Synapse (or latest Microsoft equivalent) environment. • Intergrate our bespoke XBRL viewer tool (under development) into the platform. • Consider and include non-functional requirements. • Consider within the design, scalability and reliabilty, and business continuity and disaster recovery. The project timescales are: - Sandbox build April-June 2024 - Data sprints June-August 2024 - Gating and live September-October 2024 - Post implementation October 2024-February 2025 Where the supplied staff will work No specific location (for example they can work remotely) Who the organisation using the products or services is The s of the sandbox would be the FRC with limited access provided to FCA, Companies House, the ities Commission, Department for Energy Security and Net Zero (DESNZ) and potentially a small ion of other regulators. Why the work is being done The UK is a world leader in collecting company and organisational data in structured digital form in the iXBRL (Inline eXtensible Business Reporting Language) format. For instance, of the 3.1 million accounts published annually on the Companies House register, 88 are available in iXBRL format. In ition, more than 500 issuers on regulated markets file their annual reports in iXBRL format with the FCA. However, access and usability of the data is often challenging – data is contained in regulatory silos and is not in a form that is easy to view and analyse. This limits regulatory value of the collected data and s potential complexity and cost. The CODEx project provides an opportunity to optimise accessibility and usability of data allowing regulators and government agencies to utilise existing data about UK companies more effectively and efficiently in their activities, without itional costs for companies. The FRC as systems leader for digital reporting is leading a project to experiment with the XBRL data to understand how it might be used to support regulators and agencies. To facilitate this work we require a platform that allows the ingestion, processing, storage and connection of the data. The business problem The intended outcome of this procurement is a fully functional sandbox environment that allows the FRC and partners to ingest XBRL data, process it, structure it and make it available to visualisation and dashboarding tools and other organisations. The tools will be used to support our regulatory functions, identify companies of interest and assess certain aspects of quality and completeness. The people who will use the product or service User type: IT admin Definition: - IT admin - to set up and maintain the system User type: Designated operations admin Definition: - Designated operations admin To data sets, cleanse data and publish data and or dashboards visualisations. User type: Supervision Policy staff Definition: -Supervision Policy staff within regulators and agencies To access the published data and use directly or via dashboards and visualisations. User type: s Definition: s from other agencies via web front end with access to certain functions and data, as specified by the operations or IT admin. Any pre-market engagement done NA Work done so far We procured a data systems architecture provider to undertake a gap analysis and the development of a high level systems architecture blueprint that supports our needs. We undertook outreach with other regulators and identified a set of prioritised needs. A mary of this work will be available to the shortlisted bidders. We are currently experimenting with a number of methods of parsing the XBRL data and loading it into a data repository. The outcome of these experiments will be relevant to the final architecture. Which phase the project is in Alpha Existing team The existing team consists of Policy, Data and IT subject matter experts and a project manager Address where the work will be done Remotely - although ly to include some meetings in our London or Birmingham offices. Working arrangements The suppliers staff will work in their own premises and FRC is not responsible for providing any work infrastructure. Virtual meetings can be arranged to work with FRC between 9.00am and 5.00pm BST Monday to Friday. However, the FRC is willing to facilitate face-to-face meetings at the London Wall office (London) if required and agreed by both parties Security and vetting requirements Baseline Personnel Security Standard (BPSS) Latest start date 15 April 2024 Expected contract length Contract length: 0 years 10 months 0 days Budget Indicative maximum: £174000 Indicative minimum: The contract value is not specified by the buyer Further information: The maximum budget is £174,000 excluding VAT for the entire project. Contracted out service or supply of resource? Contracted out service: the off-payroll rules do not apply Terms and acronyms Term or acronym: See below Definition: (1) FRC - Financial Reporting Council - UK regulator for auditors, accountants and actuaries, which also sets the UKs Corporate Governance and Stewardship Codes. (2) CODEx - Company and Organisational Data Explorer - a project run by the FRC to develop a regulatory toolkit to simplify access to, and analysis of public structured data, including a viewer. (3) XBRL - eXtensible Business Reporting Language - a data standard for business reporting (4) iXBRLinline XBRL - open standard that enables a single document to provide both human-readable and structured XBRL data