Award

Third Party Risk Management Tool

FINANCIAL CONDUCT AUTHORITY

This public procurement record has 1 release in its history.

Award

02 Sep 2024 at 15:27

Summary of the contracting process

The Financial Conduct Authority has awarded Bytes Software Services Limited a contract for the provision of a Third Party Risk Management Tool. The procurement, falling under the software package and information systems category, was conducted through a call-off from the KCS Procurement Services Framework Y20011. Located in London, the contract period is from 4th March 2024 to 3rd March 2027, with a total award value of £139,608.00 excluding VAT for the initial three-year term. There are two optional extensions of twelve months each. This award marks the completion stage of the procurement process, with the tender having ended on 5th December 2023.

This tender presents an advantageous opportunity for businesses specialising in software packages and associated services. It highlights the potential for significant growth through the provision of specialised risk management tools to major financial organisations. Businesses well-suited to compete in such tenders are those with robust capabilities in software development and risk management solutions, particularly those experienced in working with frameworks and selective procurement methods. Opportunities like this can open the door to long-term relationships and substantial contracts in a competitive industry.

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Notice Title

Third Party Risk Management Tool

Notice Description

This is a contract award to Bytes Software Services Limited for the Provision a Third Party Risk Management Tool. The KCS Procurement Services Framework Y20011 for Software Products and Associated Services 2 was used for the Call Off. The Call off Contract is awarded for three (3) years and includes two (2) extension option of twelve (12) months each. The award value of PS139,608.00 ex VAT is for the initial 3 year term only.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-338b3a40-5e8f-48be-85e7-f865cd02b8da
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c9922f51-0ad6-444c-afa0-61e9facf4dba
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Goods
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems


CPV Codes

48000000 - Software package and information systems

Notice Value(s)

Tender Value
£139,608 £100K-£500K
Lots Value
Not specified
Awards Value
£139,608 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
2 Sep 20241 years ago
Submission Deadline
5 Dec 2023Expired
Future Notice Date
Not specified
Award Date
1 Feb 20242 years ago
Contract Period
4 Mar 2024 - 3 Mar 2027 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
FINANCIAL CONDUCT AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E20 1JN
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLI London

Local Authority
Newham
Electoral Ward
Stratford Olympic Park
Westminster Constituency
Stratford and Bow

Supplier Information

Number of Suppliers
1
Supplier Name

BYTES SOFTWARE SERVICES

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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