Enterprise Resource Planning System

The vendor is required to provide the enterprise resource planning system should support real-time data synchronization, automation of financial transactions, budget tracking, fund management, artificial intelligence and robust auditing capabilities while ensuring compliance with governmental and state financial requirements, and federal and state grant and contract requirements.
- Financial management system requirements
a. General ledger (GL) and core accounting 
• Configurable multi-segment chart of accounts with hierarchy support and ability to restrict invalid segment combinations.
• Real-time posting of manual, recurring, and template-based journal entries with drilldown to source transactions. 
• Support for automated journal entries, month-end and year-end close processes, and reconciliation tools. 
• Encumbrance accounting for tracking committed and budgeted expenditures. 
• Multi-entity and multi-fund accounting with support for distinct entity types. 
• Import and export of journal entries and reports via excel or csv, with automation options. 
• Full audit trail for financial transactions, including edits and approvals. 
• Compliance with governmental, FASB, and other applicable standards. 
• Automated period-end closing features, including lockout capabilities and controller checklist. 
• Customizable financial reporting, ad hoc report generation, and dashboards. 
• Automated report distribution to predefined lists. 
• Grant and restricted fund tracking, project accounting, and cost allocation capabilities. 
• Payroll cost allocation and labor distribution tools.
b. Accounts payable (AP) 
• Automated invoice processing with configurable approval workflows and vendor payment scheduling. 
• Support for vendor discounts and management of vendor profiles and payment terms. 
• Invoice validation through 2-way and 3-way matching processes. 
• Multi-method payment processing, including ach, wire transfers, checks, and electronic payments. 
• Integration with banking platforms for real-time reconciliation and cash flow monitoring. 
• Automated generation of expense reports and credit card reconciliation reports. 
• Support for 1099 reporting and w-9 document tracking.
c. Accounts receivable (AR) 
• Intuitive AR system to support customer, lessee, ad hoc, recurring, milestone, and usage-based billing. 
• Management of customer profiles and invoice generation. 
• Processing of cash receipts and tracking of unapplied payments. 
• AR aging reports with automated dunning letters and payment reminders.
d. General requirements for AP and AR 
• Scanning and digitization of invoices and remittances to support ap and AR workflows. 
• Workflow automation across AP and AR modules to improve efficiency and reduce manual intervention. 
• Centralized reporting tools for real-time visibility into payables, receivables, and cash position
e. Bank reconciliation and cash management 
• Manage multiple bank accounts and transactions
• Automated bank feed integration and transaction matching
• Reconciliation reports and exception handling
• Positive pay file generation and bank integrations
f. Fixed assets and depreciation
• Track asset acquisitions, disposals, and transfers
• Schedule depreciation using various methods
• Integration with GL and AP modules
g. Budgeting and financial planning
• Master budget creation and tracking, with the ability to support multiple budget types – Activity-based, incremental, continuous, strategic, and supplemental.
• Supports multiple budget versions.
• Budget reconciliation tools to compare actual versus planned expenditures.
• Ability to restrict transactions that are over budget.
• Cash flow forecasting and long-term financial planning.
• Integration with grants and funded programs for budget oversight.
h. Grant and contract management
• Ability to monitor, allocate, and track expenditures for grant- and contract- funded projects.
• Grant and contract compliance reporting, ensuring adherence to state and federal funding requirements.
• Automated reconciliation between grant and contract expenditures and the general ledger.
• Ability to manage multiple funding sources and overlapping grant periods.
i. Banking, cash flow and treasury management
• Automated bank reconciliation, reducing manual effort and errors.
• Able to upload credit card and PayPal data.
• Cash position tracking, providing real-time visibility into financial status.
• Fund transfers and cash flow optimization tools for multi-account management.
• Fraud detection and security protocols to prevent unauthorized transactions.
j. Fleet management
• Comprehensive vehicle and asset inventory with unique identifiers.
• Management of vehicle acquisition, assignment, driver assignment, and disposal.
• Scheduling and tracking of preventive and corrective maintenance, with complete service history and work order management.
• Fuel usage logging with fuel card integration and mileage tracking to support usage-based cost allocation.
• Automatic reminders and notifications for maintenance, inspections, insurance, and registration deadlines.
• Compliance tracking for driver licenses and vehicle inspections.
• Integration with the general ledger for asset capitalization and depreciation.
• Reporting and analytics on vehicle usage, downtime, maintenance history, and total cost of ownership. 
• Real-time insights into fleet operations, including location, mileage, fuel efficiency, and assignment status. 
k. Purchasing 
• User-friendly, platform for creating and managing purchase requisitions with customizable approval workflows. 
• Ability to issue and track both purchase orders and service orders (standard, blanket, and contract) with automated approval routing. 
• Support for internal shopping cart functionality to streamline item selection and requisition creation. 
• Supplier management features including onboarding, compliance documentation, and performance tracking. 
• 2-way and 3-way invoice matching, payment processing, and financial audits. 
• Real-time dashboards and automated notifications for tracking procurement activity, pending actions, and exceptions. 
• Receiving functionality for goods and services, including partial receipts, returns, and inspection integration with inventory and assets. 
• Budget controls and real-time encumbrance tracking to ensure alignment with funding sources and compliance rules. 
• Ability to assign multiple budget or cost center codes to a single line item for split funding or project-based accounting. 
• Vendor performance tracking tools with configurable metrics, ratings, and historical reporting. 
• Standard and custom reporting capabilities for spend analysis, cycle times, and compliance monitoring. 
• Secure audit trails, role-based permissions, and full transaction history for accountability and transparency. 
• Seamless integration with financial, project, and grant accounting systems; scalable for future growth.
- System and technology requirements
a. Integration and data interoperability
• API-based integration or middleware solutions for secure, real-time data exchange. 
• automated workflows that link financial transactions with external systems, such as purchase orders, vendor payments, payroll processing, and budget adjustments. 
• SQL-based open platform for full interoperability with third-party applications. 
• Data warehouse with business intelligence tools.
b. Security, compliance and risk management 
• Data encryption and secure authentication protocols to protect financial data. 
• Role-based access control, ensuring only authorized personnel can access sensitive financial records. 
• Disaster recovery and backup protocols to prevent data loss.
• Multi-factor authentication (MFA) for enhanced system security. 
c. CLOUD-based SaaS model 
• Cloud-hosted solution with agency retaining full administrative control. 
• Mobile-friendly with web-based access for remote financial management. 
• Scalable infrastructure, allowing future expansion and feature enhancements such as AI.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: July 02, 2025