Award

Audit and Risk Tool

FINANCIAL OMBUDSMAN SERVICE LIMITED

This public procurement record has 1 release in its history.

Award

30 Jul 2025 at 12:26

Summary of the contracting process

The Financial Ombudsman Service Limited, a public authority in the sub-central government category, has completed the procurement process for the "Audit and Risk Tool". The procurement involved a limited method, below the threshold for competition, targeting the acquisition of software systems to enhance audit trails and stakeholder engagement in audit and risk processes. The procurement falls under the industry category of Software package and information systems and is situated in the United Kingdom. The contract was awarded on 2nd May 2025 with a value of £130,340 (gross: £156,408), and the contract period will run from 5th May 2025 to 4th May 2028.

This tender provides an opportunity for companies specialising in software solutions, particularly small to medium-sized enterprises (SMEs) like Core Stream Ltd, which secured the contract. The requirement for audit trail capabilities and stakeholder interaction within audit processes beckons competitive propositions from businesses adept in developing sophisticated software systems. Companies focusing on goods delivery with considerable software package expertise can benefit from such ventures, especially if they target enhancing organisational efficiency and participatory processes in risk management tasks.

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Notice Title

Audit and Risk Tool

Notice Description

Software system to help streamline processes, provide audit trails, and encourage stakeholder participation in the audit and risk processes.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05690c
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/044267-2025
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Limited
Procurement Method Details
Below threshold - limited competition
Tender Suitability
Not specified
Awardee Scale
SME

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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£130,340 £100K-£500K

Notice Dates

Publication Date
30 Jul 20256 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
1 May 20259 months ago
Contract Period
4 May 2025 - 4 May 2028 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
FINANCIAL OMBUDSMAN SERVICE LIMITED
Contact Name
Not specified
Contact Email
procurement.enquiries@financial-ombudsman.org.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
E14 9SR
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
Not specified

Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

CORE STREAM

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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