---
title: "Financial Planning & Forecasting System"
ocid: "ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2023-11-16"
---

# Financial Planning & Forecasting System

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e

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## Summary

The Financial Reporting Council Limited has awarded a contract for a Financial Planning & Forecasting System. The FRC aims to implement a cloud-based SaaS application for comprehensive budgeting, forecasting, and financial reporting. The contract value is £32500, with a contract period from 6th November 2022 to 5th November 2024. The buying organisation is based in London, EC2Y 5AS, and the industry category is financial analysis software. The procurement method used was an open procedure, and the tender period ended on 2nd March 2022.

This opportunity is suitable for SMEs interested in providing services related to financial planning and forecasting systems. Businesses with expertise in financial analysis software, financial systems software, accounting software, and accounting systems are well-suited to compete. The FRC expects tenders to comply with a maximum bid cap of £110,000 excluding VAT. The contract period spans from 31st March 2022 to 30th March 2025, offering a multi-year opportunity for growth and collaboration.

## Notice

THIS IS A CONTRACT AWARD NOTICE The Financial Reporting Council sets the UK accounting, audit and actuarial standards and administers the Corporate Governance and Stewardship Codes. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit, and high-quality risk management. This Notice relates to our Financial Planning & Forecasting System. The FRC requires a Planning and Forecasting solution with reporting, consolidation, and analysis capabilities. Financial forecasting allows management teams to anticipate results based on previous financial data and expected changes. It will enable the FRC to optimize the forecasting activity to deliver enhanced benefits to the FRC. The FRC's aim is to procure a cloud-based SaaS application for comprehensive budgeting, forecasting, analysis, and financial reporting. The ideal solution must be suitable for public sector entity. In addition, the financial forecasting system will allow to automate forecasting processes, forecast the impact of multiple scenarios, and quickly identify where, when, and why actuals differ from the plan, so that the FRC's Finance Team can take appropriate action. Full details are available in the attached Invitation to Tender (ITT) and associated documents. NOTE : The FRC does not anticipate tender bids over PS110,000 excluding VAT over the duration of the Agreement. Note: The FRC reserves the right to reject tenders that exceed this value. Additional information: THIS IS A CONTRACT AWARD NOTICE. THIS RELATES TO PROFESSIONAL SERVICE.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/a4af9d28-1ba2-49d5-a6b2-cfc7db51eb12 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 16 Nov 2023 |
| Submission deadline | 2 Mar 2022 |
| Future notice date | Not specified |
| Award date | 5 Jul 2022 |
| Contract period | 6 Nov 2022 - 5 Nov 2024 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £170,000 |
| Lots value | Not specified |
| Awards value | £32,500 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE FINANCIAL REPORTING COUNCIL LIMITED |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2Y 5AS |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Bassishaw |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | ICIT BUSINESS INTELLIGENCE |

## CPV Codes

### Divisions

- 48 - Software package and information systems

### Codes

- 48441000 - Financial analysis software package
- 48442000 - Financial systems software package
- 48443000 - Accounting software package
- 48444000 - Accounting system

## Release History

- 16 Nov 2023 at 15:19 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/a4af9d28-1ba2-49d5-a6b2-cfc7db51eb12
- 18 Feb 2022 at 17:09 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/3f4f68d8-6203-4c5a-a16e-0a958375c594
- 9 Feb 2022 at 18:13 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/3f4f68d8-6203-4c5a-a16e-0a958375c594

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/a4af9d28-1ba2-49d5-a6b2-cfc7db51eb12
  16th November 2023 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/3f4f68d8-6203-4c5a-a16e-0a958375c594
  18th February 2022 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/fbecb008-b0bc-40fb-a591-49cfb4b19878
  ITT - Financial Planning & Forecasting System
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/5090e83d-46aa-4135-90c8-7093a611e2c8
  Schedule A - Order Form and T&C's
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/3e5cd671-fb55-4c7c-90ff-3e53d38d6302
  Schedule B - Form of Tender Response
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/f7ea854e-ec26-4744-8762-ad13c3e8661c
  Schedule C - Supplier Due Diligence Questionnaire

## Notice URLs

- http://www.frc.org.uk

## 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-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-70c9d276-f1aa-4832-9b61-e297fc42a47e.json.