Award

Accounting Software

BANK OF ENGLAND

This public procurement record has 4 releases in its history.

Award

14 Jan 2025 at 10:22

Award Notice
TenderAmendment

06 Aug 2024 at 09:30

Tender Notice
TenderAmendment

05 Aug 2024 at 09:22

Tender Notice
Tender

05 Aug 2024 at 09:17

Tender Notice
Summary of the contracting process

The Bank of England recently completed the award stage for the procurement of a new Accounting Software system to meet statutory requirements. The awarded contract was published on 14 January 2025 and granted to Normative AB, a large-scale company. The contract, valued at GBP 160,000, will commence on 18 December 2024, running initially for a 2-year term with the possibility of a 1-year extension. This procurement, situated in London (postcode EC2R 8AH), falls under the "Software package and information systems" category and additional classifications including IT services and Environmental auditing. The procurement method used was an open procedure, indicating an equitable and competitive process for all interested vendors. This tender reached its completion on 4 September 2024 after a month-long tender period starting from its initial publication on 5 August 2024.

This procurement process offers substantial opportunities for businesses in the software and IT services sectors, especially those specialising in energy management and environmental auditing. The contract's suitability for small and medium enterprises (SMEs) was explicitly noted by the Bank, indicating a strategic move to include dynamic and innovative smaller firms. SMEs with capabilities in developing and supporting sophisticated accounting software solutions stand to benefit greatly from this opportunity, potentially propelling business growth through a prestigious association with a high-profile client such as the Bank of England. This procurement not only offers immediate financial gain but also the potential for future collaborations and an enhanced market presence.

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Notice Information

Notice Title

Accounting Software

Notice Description

Award to supply a new Accounting Software system to meet statutory requirements. The contract will be a 2-year initial term with the option to extend for 1 year.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-57716b2c-9d4d-48ad-841b-eedeef6ca4a7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9e516240-968d-4dfd-a94e-985f6e49a504
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

71 - Architectural, construction, engineering and inspection services

72 - IT services: consulting, software development, Internet and support

90 - Sewage, refuse, cleaning and environmental services

CPV Codes

48000000 - Software package and information systems

71314200 - Energy-management services

72000000 - IT services: consulting, software development, Internet and support

90714000 - Environmental auditing

Notice Value(s)

Tender Value
£160,000 £100K-£500K
Lots Value
Not specified
Awards Value
£160,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
14 Jan 20251 years ago
Submission Deadline
4 Sep 2024Expired
Future Notice Date
Not specified
Award Date
18 Nov 20241 years ago
Contract Period
18 Dec 2024 - 17 Dec 2026 1-2 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Technology Procurement Team
Contact Email
technology.contracts@bankofengland.co.uk
Contact Phone
0203 461 2393

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
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
Not specified
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

NORMATIVE

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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