---
title: "ITT for a Finance System for the Royal Academy of Music"
ocid: "ocds-h6vhtk-03b2e5"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03b2e5"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-03b2e5.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-03b2e5.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "ROYAL ACADEMY OF MUSIC"
published: "2023-10-17"
---

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

Buyer: ROYAL ACADEMY OF MUSIC  
Current stage: Award  
OCID: ocds-h6vhtk-03b2e5

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03b2e5)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-03b2e5.json)

## Summary

The Royal Academy of Music has completed an Invitation to Tender (ITT) for a Finance System, aiming to manage its financial resources effectively. The Academy seeks a software package to handle budgeting, accounts, procurement, compliance and reporting. The tender process has been cancelled, with the contract awarded to Embridge Consulting Limited for 10 years. The procurement method used was a selective procedure, with the Royal Academy of Music as the buying organisation.

This opportunity could suit businesses providing financial systems software packages. With a focus on financial management, compliance, and reporting, suppliers with experience in project management and technical requirements stand as strong contenders. The Royal Academy of Music, based in London, has set specific quality criteria for the tender, underscoring the importance of experience, project management skills, and technical expertise in securing the contract.

## 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.

### Lot Information

Lot 1

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.

Renewal: Estimated 5 year contract plus 5 year extension

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/030558-2023 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Goods |
| Procurement method | Selective |
| Procurement method details | Restricted procedure |
| Tender suitability | Not specified |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 17 Oct 2023 |
| Submission deadline | 29 Mar 2023 |
| Future notice date | Not specified |
| Award date | 31 Jul 2023 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £200,000 |
| Lots value | £200,000 |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | ROYAL ACADEMY OF MUSIC |
| Additional buyers | LONDON UNIVERSITIES PURCHASING CONSORTIUM |
| Locality | LONDON |
| Post town | West London |
| Postcode | W1T 7NZ |
| 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 | TLI London, TLI3 Inner London - West |

## Supplier

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

## CPV Codes

### Divisions

- 48 - Software package and information systems

### Codes

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

## Release History

- 17 Oct 2023 at 09:06 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/030558-2023
- 30 Mar 2023 at 11:39 - TenderUpdate - Tender Notice - https://www.find-tender.service.gov.uk/Notice/009295-2023
- 15 Mar 2023 at 08:24 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/007467-2023

## Notice URLs

- https://uk.eu-supply.com/app/rfq/rwlentrance_s.asp?PID=64367&B=LUPC
- https://uk.eu-supply.com/ctm/Company/CompanyInformation/Index/81165
- https://www.lupc.ac.uk
- https://www.ram.ac.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-h6vhtk-03b2e5. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-03b2e5.json.