Cloud Based Financial Management or ERP Solution

The Vendor is required to provide a comprehensive, user-friendly, and scalable cloud-based financial management system or an all-in-one enterprise resource planning system ("system") that prioritizes strong financial management capabilities, with consideration.
- Propose a robust System, along with services for planning, implementation, data migration, system configuration, training, and ongoing support and maintenance.
- System must include modules for General Ledger and Financial Reporting, Accounts Receivable, Accounts Payable, Purchasing, Budgeting, and Fixed Assets.
- System modules, functions, and value-added features and showcase how they integrate with or enhance the System’s core finance and accounting management capabilities.
- This includes meeting agency technical, accounting, and training needs while ensuring that the Solution complies with applicable industry standards (e.g., GAAP, PCI, and SOC).
- The Solution should support scalability and integration with other systems, where applicable, to ensure operational efficiency across all financial processes.
- The solution must provide robust financial reporting and comprehensive audit trails across all modules and transaction types, ensuring transparency, traceability, and accountability for all financial data and activities.
- A fully integrated financial accounting system along with associated technical and professional implementation and support and maintenance services.
- System must include the following modules:
• General ledger & financial reporting
• Accounts receivable
• Accounts payable
• purchasing
• Budgeting
• Fixed assets
- Accounts receivable (“A/R”)
• Allow for the storage and maintenance of unlimited customer records.
• Ability to categorize and age A/R.
• Ability to accept weekly billing and account settlement transactions for posting to individual customer accounts.
• Ability to accept customer update files regarding additions and change of status.
• Ability to accept external interface from banking vendors regarding insufficient fund transactions.
• Ability to track customer comments by type and category.
• Provide interface to g/l on all A/R financial transactions.
- Accounts payable (“A/P”)
• Allow for the storage and maintenance of all vendor files for all a/p transactions.
• Provide an approval flow with supporting documentation on all vendor invoices.
• This module must communicate with a/p to ensure spending authorization on all agency disbursements.
• Allow for full accrual of all vendor invoices including application over multiple accounting periods.
• Provide interface to g/l on all a/p financial transactions.
• Offer a secure check of the printing environment enabling agency to produce vendor payments as needed.
• Allow for interaction with budgeting module regarding account balances based on remaining budget authorizations.
• Allow for electronic funds transfer (“eft”) of vendor payments ensuring payment card industry (“PCI”) compliance of banking data.
• Provide a copy of all vendor disbursements to external vendors via email when payments are made.
• Develop an export file of vendor disbursement data as needed.  - Purchasing/procurement
• Maintain a comprehensive vendor master file that supports the creation, updating, and archiving of vendor records for all purchase order obligations under contract.
• The system must capture key vendor attributes, including vendor classification, status, and diversity certification status (e.g., woman-owned, minority-owned, veteran-owned business).
• Generate and manage purchase orders (“POS”) with configurable multi-level approval workflows tied to predefined spending thresholds and Organizational hierarchy. 
• The system shall enforce approval limits and routing rules to ensure compliance with agency procurement policies.
• Seamlessly interface with the accounts payable module to ensure all vendor disbursements are backed by authorized purchase orders, invoices or other relevant documentation. 
• The system must integrate with the budgeting module in real-time or near-real-time to validate budget availability and prevent spending beyond authorized limits prior to PO approval and invoice payment.
• Enable automated spend controls by validating purchase orders, invoices, and similar documentation against approved budgets, spending thresholds, and vendor lists.
• The system should provide alerts or block approvals when limits are exceeded, with the ability to override with appropriate higher-level approvals. 
• Support classification and tracking of vendors based on diversity certifications or other socio-economic categories. 
• The system shall allow reporting and analytics on procurement spend with small and diverse business enterprises to support agency supplier diversity initiatives and compliance requirements.
• Provide comprehensive reporting tools for purchase order status, spend analysis, vendor performance, and compliance metrics. 
• All purchasing activities must be fully auditable, with detailed logs of approvals, changes, and transactions.
- Contract lifecycle management
• User management: role-based access for legal, finance, HR, and administrative users with configurable permissions. 
• tracks all user actions through a detailed audit trail.
• Contract repository: centralized digital storage for contracts with searchable metadata (e.g., contract type, effective dates, and terms).
• Supports full-text search, collaboration and editing, version control, and document history.
• Compliance & risk management: automated alerts for contract milestones such as expirations and renewals.
• System can flag high-risk contracts based on value, duration, or terms.
• Renewal & expiration tracking: workflow automation for tracking upcoming renewals and managing renegotiation tasks to prevent lapses in agreements.
• Reporting & analytics: standard and custom reports covering contract value, duration, status, and legal spend. 
• Enables performance tracking across departments or contract types.
• Integration: seamless integration with ERP systems and document management platforms to ensure centralized data visibility and updates.
• Security & data protection: data encryption, user access controls, automated backups, and disaster recovery protocols. 
• Supports compliance with applicable laws.
• Auditing & litigation support: detailed audit logs for compliance reviews.
• Enables quick retrieval of contract records to support internal investigations or legal proceedings.
• Scalability & customization: supports multiple departments and growing contract volumes. 
• Customizable workflows, templates, and approval paths to match organizational needs.
• User interface: dashboard view of contract lifecycle, deadlines, and actionable items.
• Includes advanced search and filtering for ease of use.
• Training & support: vendor-provided training resources, onboarding materials, and access to a responsive help desk for technical and functional support. 
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: July 9, 2025