Tender

Financial Planning, Forecasting and Budgeting Solution

FINANCIAL SERVICES COMPENSATION SCHEME

This public procurement record has 1 release in its history.

Tender

09 Sep 2022 at 13:35

Tender Notice
Summary of the contracting process

The Financial Services Compensation Scheme (FSCS) is seeking to procure a new Financial Planning, Forecasting and Budgeting Solution. The solution aims to aid in regular forecasting, budgeting, and monitoring of expenses and revenues. The procurement is in the open stage, with a tender deadline set for 28th October 2022. The contract period is scheduled to begin on 13th February 2023, lasting until 12th February 2026. The procurement falls under the goods category in the software package and information systems industry, with an estimated value of £1,150,000.

This tender by the FSCS offers opportunities for businesses providing financial software solutions. Small and medium enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) are encouraged to participate. The contract could be beneficial for companies looking to provide licensing, design, implementation, and support services in the financial planning sector. Businesses with expertise in developing solutions focused on cost allocation, forecasting, and financial reporting are well-suited to compete for this opportunity.

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Notice Information

Notice Title

Financial Planning, Forecasting and Budgeting Solution

Notice Description

FSCS is looking to procure a new Financial Planning, Forecasting and Budgeting solution. The new solution would support the business to do the following: *Prepare regular forecasts and annual budgets of all cost and revenue accounts in a simple and easily updatable manner; *Prepare regular forecasts of non-financial information e.g. headcount and claims volumes; *Monitor actuals against budget and forecasts enabling management to easily identify, understand and report variances; *Allocation of costs (actuals and forecast) to several categories e.g. for activity-based costing analysis and to various funding categories for levy calculations; and *Report to senior management, Board and externally. The contract with the successful provider will include licences, the design and implementation of the solution together with the annual support and maintenance.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6a167a81-0d3b-475f-964a-0570a9a61c3c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/0c7bafeb-15b7-4452-a30f-e83dbde9346b
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Goods
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
£1,150,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
9 Sep 20223 years ago
Submission Deadline
28 Oct 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
13 Feb 2023 - 12 Feb 2026 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
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

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
Not specified
Local Authority
City of London
Electoral Ward
Portsoken
Westminster Constituency
Cities of London and Westminster

Further Information

Open Contracting Data Standard (OCDS)

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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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