--- title: "PROVISION OF FIRST RESPONSE FINANCE LTD FINANCIAL MANAGEMENT SYSTEM" ocid: "ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821.json" source: "Contracts Finder" current_stage: "Tender" buyer: "FIRST RESPONSE FINANCE" published: "2025-02-12" --- # PROVISION OF FIRST RESPONSE FINANCE LTD FINANCIAL MANAGEMENT SYSTEM Buyer: FIRST RESPONSE FINANCE Current stage: Tender OCID: ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821.json) ## Summary First Response Finance is seeking proposals for the provision of a cutting-edge financial management system to support their vehicle finance operations for non-prime customers. Based in Nottingham, they are looking to modernise their accounting system, which has not been updated in over 20 years, to manage their growing volume of transactions and data. The procurement falls under the category of "Financial analysis and accounting software package" with a tender ID of IT-89-150-INT-FRF01. The open procedure tender is being conducted below the threshold, and the deadline for submissions is set for 14 March 2025. The awarded contract will start on 1 July 2025 and conclude on 30 June 2030, covering multiple delivery locations including the United Kingdom, Europe, and the British Overseas Territories. This tender presents a significant growth opportunity for businesses specialising in SaaS financial solutions. The ideal candidates are those with a robust, scalable product capable of handling high transaction volumes and integrating seamlessly with proprietary accounting systems like IFRS9. Businesses adept at developing comprehensive financial management systems that enhance efficiency and offer detailed transaction-level reporting will find this contract particularly advantageous. This opportunity is less suited for SMEs and VCSEs due to the scale and complexity required. Engaging with First Response Finance on this project can facilitate long-term business relationships and exposure in the financial services industry. ## Notice Here at First Response Finance our purpose is to provide great credit solutions through service excellence and continual improvement for non-prime customers. We are an FCA registered finance company who specialise in providing vehicle finance for non -prime customers via independent motor dealers. The underlying principle upon which our company is built is that it "starts with People", because by obtaining, training and retaining good people with the right attitudes, values and ethics, with learned skills and competency we will more readily be able to attract, service and retain our customers. This is shown through us winning several awards including but not limited to: - Outstanding Workplace Award - Firm of the Year - Best Car Finance Provider - 3 star Best Companies - Feefo's Gold Trusted Service Award. At our company, we pride ourselves on investing in our people resulting in low staff turnover and an average tenure of 10 years across 320 employees. Our values underpin our behaviours and mindset which are to be open and honest, be customer driven, be a team player and have a winning attitude. This strong foundation has fuelled our growth over the past two decades. In 2023, we ambitiously set a goal to double our volumes over the next five years while maintaining a similar headcount, and we're proud to be on track with revenue up nearly 60% in just three years. As we continue on this growth trajectory, we're committed to modernising our processes, including our accounting system, a core component that hasn't been updated in over 20 years. We're seeking a cutting-edge SaaS solution to revolutionise our procedures by enabling transaction-level detail and a quantum leap in efficiency. Currently, our portfolio includes over 120,000 agreements. At month-end, each agreement generates a comprehensive list of journal entries, ranging from earned income and bad debt provisions to commissions and other related costs. These are calculated by our proprietary IFRS9 system, and we would expect the journals to flow from this system into the new financial management system seamlessly. Additionally, during each monthly period we process numerous weekly, fortnightly and monthly cash transactions from our diverse customer base (i.e. many agreements receive multiple payments each month). As a result, revolutionising bank reconciliations is a key objective in this process. As well as the portfolio transactions, we also process typically 150 AP invoices each month and 50-100 employee expenses. To support our ambitious growth, we need a robust, scalable system capable of managing high volumes of data without compromising on detail or performance. We're excited to partner with a forward-thinking SaaS provider who can deliver innovative solutions that align with our dynamic needs. Additional information: https://in-tendhost.co.uk/intendsharedservices/ Is a Recurrent Procurement Type? : No ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/5b10ad9a-335f-4584-ad67-d32d2909cfb9 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (below threshold) | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 12 Feb 2025 | | Submission deadline | 14 Mar 2025 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 1 Jul 2025 - 30 Jun 2030 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | FIRST RESPONSE FINANCE | | Locality | NOTTINGHAM | | Post town | Nottingham | | Postcode | NG9 6RZ | | Country | England | | ITL 1 | TLF East Midlands (England) | | ITL 2 | TLF1 Derbyshire and Nottinghamshire | | ITL 3 | TLF16 South Nottinghamshire | | Local authority | Broxtowe | | Electoral ward | Toton & Chilwell Meadows | | Westminster constituency | Broxtowe | | Delivery location | Not specified | ## CPV Codes ### Divisions - 48 - Software package and information systems ### Codes - 48440000 - Financial analysis and accounting software package ## Release History - 12 Feb 2025 at 16:32 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/5b10ad9a-335f-4584-ad67-d32d2909cfb9 - 7 Feb 2025 at 15:29 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/5b10ad9a-335f-4584-ad67-d32d2909cfb9 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/5b10ad9a-335f-4584-ad67-d32d2909cfb9 12th February 2025 - Opportunity notice on Contracts Finder ## Notice URLs - https://in-tendhost.co.uk/intendsharedservices/ ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-594a59f5-9a67-437c-b80e-49d0f03d1821.json.