---
title: "ITT for a Finance System for the Royal Academy of Music"
ocid: "ocds-b5fd17-b0f742f5-fa14-4a5f-b949-d06a6bf4c773"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-b0f742f5-fa14-4a5f-b949-d06a6bf4c773"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-b0f742f5-fa14-4a5f-b949-d06a6bf4c773.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-b0f742f5-fa14-4a5f-b949-d06a6bf4c773.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "LONDON UNIVERSITIES PURCHASING CONSORTIUM"
published: "2023-08-11"
---

# ITT for a Finance System for the Royal Academy of Music

Buyer: LONDON UNIVERSITIES PURCHASING CONSORTIUM  
Current stage: Award  
OCID: ocds-b5fd17-b0f742f5-fa14-4a5f-b949-d06a6bf4c773

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## Summary

The London Universities Purchasing Consortium has awarded a contract for a Finance System to Embridge Consulting (UK) Ltd. The tender, titled "ITT for a Finance System for the Royal Academy of Music," aimed to procure a financial systems software package to meet the financial management and reporting needs of the Academy. The tender's value is GBP 423,000, with a contract period starting on September 1, 2023, and ending on April 1, 2028. The procurement method used was a selective procedure, with a tender period closing on April 6, 2023.

This contract presents opportunities for businesses, particularly those providing financial systems software solutions or consultancy services. With a focus on financial management, grant and contract management, procurement, asset management, and compliance, businesses with expertise in these areas would be well-suited to compete. As the successful supplier is expected to have a 10-year contract, this opportunity offers stability and a long-term partnership for businesses in the financial technology sector.

## Notice

The Academy requires a finance system to manage which needs to meet a range of requirements to support the financial management and reporting needs of the Academy. Some high level requirements for a finance system at Academy include: * Financial management: The system should provide tools for managing the Academy's financial resources, including budgeting, accounts payable and receivable, general ledger, and financial reporting. * Integration with other systems: The finance system should integrate with other systems used by the Academy, such as I-Trent payroll and HR system, and Quercus student record systems, to ensure data consistency and reduce data entry. * Grant and contract management: The system should provide tools for managing grants and contracts, including tracking expenses and revenue, invoicing, and compliance reporting. * Procurement management: The system should support procurement processes, including purchasing, vendor management, and contract management. * Asset management: The system should allow the Academy to track and manage its physical assets, including equipment, vehicles, and buildings. * Compliance: The system should support compliance with financial regulations and standards, such as GAAP (Generally Accepted Accounting Principles) and FASB (Financial Accounting Standards Board) guidelines. * Reporting and analysis: The system should provide reporting and analysis capabilities to support decision-making and strategic planning. This includes dashboards, ad-hoc reporting, and data visualisation. * Security and access control: The system should provide robust security and access controls to protect financial data and ensure appropriate access to information by authorised personnel. * Scalability: The system should be scalable to accommodate the financial needs of a growing Academy, including expansion into new programs, research, and other initiatives The successful supplier is expected to be awarded a contract for 10 years.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/e3b58ee6-1ed7-4e2f-912b-61d6eec5738b |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Goods |
| Procurement method | Selective |
| Procurement method details | Restricted procedure |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 11 Aug 2023 |
| Submission deadline | 6 Apr 2023 |
| Future notice date | Not specified |
| Award date | 10 Aug 2023 |
| Contract period | 31 Aug 2023 - 1 Aug 2028 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £423,000 |
| Lots value | Not specified |
| Awards value | £236,508 |
| 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 | LONDON UNIVERSITIES PURCHASING CONSORTIUM |
| Locality | LONDON |
| Post town | North West London |
| Postcode | NW1 5HT |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | Regent's Park |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | EMBRIDGE CONSULTING (UK |

## CPV Codes

### Divisions

- 48 - Software package and information systems

### Codes

- 48442000 - Financial systems software package
- 48812000 - Financial information systems

## Release History

- 11 Aug 2023 at 09:36 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/e3b58ee6-1ed7-4e2f-912b-61d6eec5738b

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/e3b58ee6-1ed7-4e2f-912b-61d6eec5738b
  11th August 2023 - Awarded contract notice on Contracts Finder
- https://uk.eu-supply.com/app/rfq/rwlentrance_s.asp?PID=64368&B=LUPC
  Additional data
- https://uk.eu-supply.com/ctm/Company/CompanyInformation/Index/81165
  User / Company

## Notice URLs

- https://www.ram.ac.uk

## Provenance

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