Financial Services Compensation Scheme: Financial Planning, Forecasting and Budgeting Solution

UK-London: Software package and information systems.
Section I: Contracting Authority
      I.1) Name and addresses
             Financial Services Compensation Scheme
             Beaufort House, 15 St. Botolph Street, London, EC3A 7QU, United Kingdom
             Tel. +44 2073758194, Email: Procurement@fscs.org.uk
             Main Address: https://www.fscs.org.uk
             NUTS Code: UK
      I.2) Joint procurement
      The contract involves joint procurement: No.
      In the case of joint procurement involving different countries, state applicable national procurement law: Not provided       
      The contract is awarded by a central purchasing body: No.
      I.3) Communication
      The procurement documents are available for unrestricted and full direct access, free of charge, at: https://www.delta-esourcing.com/tenders/UK-UK-London:-Software-package-and-information-systems./MVKKQHDX46
      Additional information can be obtained from: the abovementioned address
      Tenders or requests to participate must be sent to the abovementioned address       
      Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at: Not provided
      I.4) Type of the contracting authority
            Body governed by public law
      I.5) Main activity
            Economic and financial affairs

Section II: Object
II.1) Scope of the procurement
      II.1.1) Title: Financial Planning, Forecasting and Budgeting Solution       
      Reference Number: FSCS419
      II.1.2) Main CPV Code:
      48000000 - Software package and information systems.

      II.1.3) Type of contract: SUPPLIES
      II.1.4) Short description: FSCS is looking to procure a new Financial Planning, Forecasting and Budgeting solution.

The new solution would support the business to do the following:
•Prepare regular forecasts and annual budgets of all cost and revenue accounts in a simple and easily updatable manner;
•Prepare regular forecasts of non-financial information e.g. headcount and claims volumes;
•Monitor actuals against budget and forecasts enabling management to easily identify, understand and report variances;
•Allocation of costs (actuals and forecast) to several categories e.g. for activity-based costing analysis and to various funding categories for levy calculations; and
•Report to senior management, Board and externally.

The contract with the successful provider will include licences, the design and implementation of the solution together with the annual support and maintenance.       
      II.1.5) Estimated total value:
      Value excluding VAT: 1,150,000       
      Currency: GBP
      II.1.6) Information about lots:
      This contract is divided into lots: No       
   
II.2) Description
      
      II.2.2) Additional CPV codes:
      Not Provided       
      II.2.3) Place of performance:
      UK UNITED KINGDOM
      
      II.2.4) Description of procurement: The objectives of the solution are:

•All budgeting and forecasting to be undertaken directly within the solution:
oCosts and revenues - management expenses, project costs, compensation costs, levy and recoveries income;
oNon-P&L items including claims volumes; and
oHeadcount/FTE and contractors.

•All associated reporting to be produced from the solution.

•Actuals for all items listed to be automatically and regularly loaded into the solution to support the budgeting and forecasting process and enable variance analysis.

•The solution must be easy to use:
oFSCS requires a solution that is logical and would be readily manageable for input and parameterisation by Finance and Accounting staff. These are expected to be at a semi-professional level and therefore numerate and skilled to intermediate excel proficiency as a minimum and will understand accounting concepts. We would not expect them to have SQL skills, but it is anticipated that the skill level can be called upon from the business in exceptional cases.

•The solution must be flexible and be able to quickly reflect any changes to requirements. For example, the solution must easily allow for any changes or additions to any organisational structures, ABC categories, funding classes, claims products, account lines or cost centres.

•Ability to view real time information – including any cost allocations - once updates and changes are made to budgets and forecasts.

•Budget holders to be able to access the solution with restricted access based on their individually defined cost centres. Budget holders to be able to view latest forecasts and real time access to transactions.

•There will be approximately, not limited to:
o10 full users. These include Finance Team users, who will have full access to the system (Read, Create, Update and Delete) to the data, models, users, configuration, etc.
o3 support users. These will be IT support users, who would have full access (Read, Create, Update and Delete) but to only data and user/admin functions.
o37 read-only users. This includes Budget holders – who will only require access to view data and run report.

•Cost allocations – the solution must be able to perform allocations of actual and budget/forecast data based on defined drivers that may not remain static (e.g., YTD headcount and claims volumes) throughout the year.

•Scenario planning – to have a separate module or area in the solution where various alternate scenarios can be modelled and does not impact the current forecasts and budgets.

•Administration of the solution should be able to be performed circa 80% in-house, once fully implemented. Administration comprises activities such as creating new cost centres, changes to organisational structure, amending user access, amending controllable and volume driven cost classifications, funding classes, claims products and amend calculations.

•Must be able to upload data daily from the ledger system (currently SunSystems), to include full P&L and balance sheet.

•Must be able to upload prescribed system data to the Data Warehouse and have the ability to load data back into the Data Warehouse also.

•Must have a facility to provide confidence that the data loaded into the system is complete and accurate, whether through reconciliation or other means.

•The solution must be adaptable for potential future changes in the systems that it integrates with e.g., Data warehouse or change of Finance systems or other data feeds and possibly move to a more API (Application Programming Interface) based connector.
      II.2.5) Award criteria:
            Price is not the only award criterion and all criteria are stated only in the procurement documents            
      II.2.6) Estimated value:
      Value excluding VAT: 1,150,000       
      Currency: GBP       
      II.2.7) Duration of the contract, framework agreement or dynamic purchasing system:
      Duration in months: 36       
      This contract is subject to renewal: Yes       
      Description of renewals: This includes the option to extend for a further period of 2 years and then subsequent two 12- month contract extensions.
      
      II.2.10) Information about variants:
      Variants will be accepted: No
      II.2.11) Information about options:
      Options:       No             
      Description of options: Not provided
      II.2.12) Information about electronic catalogues:
      Tenders must be presented in the form of electronic catalogues or include an electronic catalogue: No
      II.2.13) Information about European Union funds:
      The procurement is related to a project and/or programme financed by European Union funds: No       
      Identification of the project: Not provided             
      II.2.14) Additional information: The estimated value of the contract includes the initial term in addition all extension options       


Section III: Legal, Economic, Financial And Technical Information
   III.1) Conditions for participation
      III.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
      List and brief description of conditions:          
      Not Provided       
      III.1.2) Economic and financial standing          
      Selection criteria as stated in the procurement documents       
      List and brief description of selection criteria:       
      Not Provided    
      Minimum level(s) of standards possibly required (if applicable) :       
      Not Provided    
      III.1.3) Technical and professional ability    
      Selection criteria as stated in the procurement documents
      List and brief description of selection criteria:       
      Not Provided      
      Minimum level(s) of standards possibly required (if applicable) :          
      Not Provided   
      III.1.5) Information about reserved contracts (if applicable)   
      The contract is reserved to sheltered workshops and economic operators aiming at the social and professional integration of disabled or disadvantaged persons: No       
      The execution of the contract is restricted to the framework of sheltered employment programmes: No    
      
   III.2) Conditions related to the contract
         
      III.2.2) Contract performance conditions          
      Not Provided          
      III.2.3) Information about staff responsible for the performance of the contract
      Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract: No

Section IV: Procedure
   IV.1) Description OPEN
      IV.1.1) Type of procedure: Open   
   
   IV.1.3) Information about a framework agreement or a dynamic purchasing system    
         The procurement involves the establishment of a framework agreement - NO    
         In the case of framework agreements justification for any duration exceeding 4 years: Not Provided    
   
   
   IV.1.6) Information about electronic auction:
      An electronic auction will be used: No
      Additional information about electronic auction: Not provided
   IV.1.8) Information about the Government Procurement Agreement (GPA)
      The procurement is covered by the Government Procurement Agreement: Yes       
   IV.2) Administrative information
      IV.2.1) Previous publication concerning this procedure:
         Notice number in the OJ S: Not provided       
      IV.2.2) Time limit for receipt of tenders or requests to participate
       Date: 28/10/2022 Time: 14:00
            
      IV.2.4) Languages in which tenders or requests to participate may be submitted: English,       
      IV.2.6) Minimum time frame during which the tenderer must maintain the tender:
         Duration in month(s): 6
      
      IV.2.7) Conditions for opening of tenders:
         Date: 28/10/2022
         Time: 14:00
      

Section VI: Complementary Information
   VI.1) Information about recurrence
   This is a recurrent procurement: No    
   Estimated timing for further notices to be published: Not provided
   VI.2) Information about electronic workflows
   Electronic ordering will be used No       
   Electronic invoicing will be accepted No       
   Electronic payment will be used No       
   VI.3) Additional Information: The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-UK-London:-Software-package-and-information-systems./MVKKQHDX46

To respond to this opportunity, please click here:
https://www.delta-esourcing.com/respond/MVKKQHDX46
   VI.4) Procedures for review
   VI.4.1) Review body:
             The Royal Court of Justice
       The Strand, London, United Kingdom
   VI.4.2) Body responsible for mediation procedures:
Not provided
   VI.4.3) Review procedure
   Precise information on deadline(s) for review procedures:    
    Not Provided    
   VI.4.4) Service from which information about the lodging of appeals may be obtained:
Not provided
   VI.5) Date Of Dispatch Of This Notice: 09/09/2022

Annex A