Forecast Planning and Accounting Tool

The vendor is required to provide forecast planning and accounting tool for include:
- Operating and capital budget management
• Budget creation and modification: users should be able to create, edit, and manage budgets for different service points or capital projects.
• Multi-year budgets: users should be able to create, edit and manage multi-year budgets with an itemized description of budget changes year over year.
• Version control: maintain a history of budget revisions, allowing users to track changes over time.
• Detailed workforce planning: track and manage salaries and benefits by position across service point, employee type, and union group.
• Accommodate different employee agreements with unique salary scales and benefit rates. users should be able to create, edit and manage employee transfers throughout the budget year.
• Approval workflows: implement customizable approval workflows for budget submissions and changes, ensuring accountability and oversight.
• Real-time collaboration: allow multiple users to collaborate on budget planning, with real-time updates and notifications.
• Custom fields: add and configure custom fields to capture specific data for board budgeting and reporting needs.
- Reporting and analytics
• Customizable dashboards: create dashboards with real-time insights into key financial metrics, including budget status, variances, and forecasts.
• Financial reporting: generate standard and custom reports on budget performance, expenditures, and reconciliations, with options for export (csv, excel, pdf).
• Integration with board systems and power bi tools: ability to integrate with board existing systems (sap, microsoft 365) and ability to integrate with business intelligence tools like power bi for advanced analytics and reporting.
• Strengthen financial compliance and risk management: provides audit trails, enhances internal controls to reduce financial risks, facilitate compliance with organizational and regulatory policies.
• Account reconciliation: support the finance team in performing monthly, quarterly and annual reconciliation tasks.
• Support for automated reconciliation processes to match transactions with bank statements or internal records.
• Provide tools for manual reconciliation with customizable workflows for approval and notifications. identify and manage discrepancies, with alerts for unusual transactions or variances.
- Implementation and change management
• User training: provide resources to support the training of board finance team and board staff.
• Technical support: provide resources for technical support, for board finance team and board staff.
• Implementation and change management: the vendor should offer a detailed plan for implementation, including timelines, change management strategies, and post-launch support.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: May 07, 2025