Award

Risk & Controls management software

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 1 release in its history.

Award

03 Oct 2022 at 09:15

Award Notice
Summary of the contracting process

The Financial Reporting Council (FRC) has awarded a contract for Risk & Controls management software to Decision Time Ltd. The contract, with a value of £120,000, aims to enhance organisational risk maturity through an automated reporting tool providing better analytics and insight. The procurement method was selective, with a tender period ending on 18th August 2022. The contract period is from 17th October 2022 to 16th October 2024, suitable for SMEs and VCSEs. The FRC is located in London, EC2Y 5AS, in the services category.

This contract presents an opportunity for businesses specialising in IT services, consulting, software development, and support to collaborate with the Financial Reporting Council. The award notice indicates potential for contract extension by 1 + 1 years, offering long-term prospects when delivering risk management solutions. Suitable businesses with expertise in risk management software and cloud hosting may find this tender particularly well-suited for business growth and partnership opportunities in the services industry.

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Notice Information

Notice Title

Risk & Controls management software

Notice Description

THIS IS A CONTRACT AWARD NOTICE The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. As part of our commitment to improving our organisational risk maturity we have identified the benefits of an automated reporting tool, to support better analytics and insight for data-driven decisions and address staff concerns. The tender was to procure Risk management software to embed optimum risk management across organisation. A Risk & Controls management software covering all functionality, cloud hosting, unlimited storage, support services (both telephone and email support), proactive), quarterly review meetings, pro-active account management, bug fixes and ongoing functional development of the software, training and training material(s). Additional information: THIS IS A CONTRACT AWARD NOTICE

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e2a0003f-0e50-48b9-afef-23f9eeee7d0d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/8a1fbabc-3f0c-4b8c-b37b-05e24ffd942d
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

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

CPV Codes

66517300 - Risk management insurance services

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

Notice Value(s)

Tender Value
£120,000 £100K-£500K
Lots Value
Not specified
Awards Value
£55,550 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
3 Oct 20223 years ago
Submission Deadline
18 Aug 2022Expired
Future Notice Date
Not specified
Award Date
27 Sep 20223 years ago
Contract Period
16 Oct 2022 - 16 Oct 2024 2-3 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
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Head of Procurement & Contracts
Contact Email
procurement@frc.org.uk
Contact Phone
020 7492 2300

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
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
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

DECISION TIME

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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