Tender

GB-London: FSCS372 Governance, Risk and Compliance System

FINANCIAL SERVICES COMPENSATION SCHEME

This public procurement record has 1 release in its history.

Tender

07 Jun 2019 at 09:40

Tender Notice
Summary of the contracting process

The Financial Services Compensation Scheme (FSCS) is conducting an open tender for the procurement of a Governance, Risk and Compliance (GRC) system, titled "GB-London: FSCS372 Governance, Risk and Compliance System". This initiative falls within the software package and information systems industry and is located in London, UK. The tender period is currently active and will conclude on 28th June 2019, with the anticipated contract period starting from 2nd September 2019 and lasting until 30th September 2022. Tender submissions must not exceed the maximum budget of £120,000 for the initial three-year contract term to be considered for evaluation.

This tender presents substantial opportunities for small and medium enterprises (SMEs) and could benefit businesses specialising in risk management software solutions, data management, and compliance systems. With the FSCS's emphasis on a GRC system that supports various functions, including project management, IT, and legal compliance, businesses capable of showcasing a product that meets these criteria and demonstrates the ability to enhance the user experience may find themselves well-positioned to win this contract. Companies should consider how their offerings align with the FSCS’s requirements to effectively compete in this procurement process.

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Notice Information

Notice Title

GB-London: FSCS372 Governance, Risk and Compliance System

Notice Description

Governance, Risk and Compliance (GRC) System FSCS are seeking to procure a Governance, Risk and Compliance (GRC) system to help facilitate the embedment of its Enterprise Risk Management Framework (ERMF). FSCS's ERMF is intended to align the management of the organisation's risks with the ISO31000 Risk Management standard and the FSCS corporate strategy. The GRC system must support the end to end risk management process, automating notifications and tasks relating to risk management activities, providing improved reporting and analytics and delivering an improved user experience. The GRC system must meet the following minimum capabilities: *enterprise risk and control data management, *risk assurance, *control assessment, *configure custom data fields, *change control and versioning *task management, workflow and notifications, *permissions management *reporting and analytics *business metrics *risk event management *data migration Part of minimum requirements for this procurement is that tenderers bids are within FSCS maximum budget of PS120,000 for the initial 3-year contract term for this procurement. Bids priced above PS120,000 will not be considered for further evaluation and will be disqualified. In addition to meeting the Enterprise Risk Management Framework requirements, additional 'secondary' requirements have also been identified in relation to functions including Project Management Office (PMO), Information Technology (IT), Information Security, Legal Compliance and Third-Party Risk. FSCS would like to understand the proposal for if, and consequentially how, the winning Tenderer's GRC system could meet these broader requirements to determine whether to increase the scope of the tool to facilitate these additional teams' needs. Additional information: The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3410e79f-7b3b-482d-afb2-7a16c56535fc
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1f482912-2120-411c-b6c6-ed1c72545ce0
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
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
£500,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
7 Jun 20196 years ago
Submission Deadline
28 Jun 2019Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Sep 2019 - 30 Sep 2022 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
FINANCIAL SERVICES COMPENSATION SCHEME
Contact Name
Jean Mutudza
Contact Email
procurement@fscs.org.uk
Contact Phone
02073758197

Buyer Location

Locality
LONDON,
Postcode
EC3A 7QU
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
City of London
Electoral Ward
Portsoken
Westminster Constituency
Cities of London and Westminster

Further Information

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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