Implementation of Long Range Financial Software

The vendor required to provide implementation of long-range financial software to streamline budgeting, forecasting, financial reporting, and performance analysis.
- Research enterprise:
•    The nation's top federally funded research institutions, with total grant expenditures exceeding half a billion in fiscal year 2024 ($521.1 million).
•    Research centers and institutes focus on key societal issues such as urban sustainability, public health, biomedical innovation, and social equity.
1. Grant funding:
•    The university is home to specialized research centers, including the institute for health research and policy, the center for urban economic development, and the institute for research on race and public policy.
- Healthcare enterprise:
•    Faculty practice plans: university clinical faculty provides specialized patient care through faculty practice plans that cover a wide range of medical specialties, leveraging their research expertise to deliver high-quality healthcare. 
•    Ambulatory pharmacy services: operated by university college of pharmacy, the ambulatory pharmacy system provides essential outpatient pharmaceutical services to patients across the region, playing a critical role in university integrated healthcare approach. 
•    Dental clinics: college of dentistry operates dental clinics that serve patients while providing clinical training for dental students and conducting research into oral health. 
•    Division provides care coordination, financial support, and specialized services to families with children and youth who have chronic health conditions or special healthcare needs.
- Primary funding sources
1. Restricted funds
•    The university with specific conditions set by the donor, grantor, or funding agency. 
•    These funds must be used for designated purposes, such as research projects, scholarships, or specific programs. 
•    Examples of restricted funds include federal research grants, private gifts earmarked for scholarships, or state funds for specific initiatives. 
•    The use of these funds is closely monitored to ensure compliance with the donor's, agencies or government’s stipulations.
2. Unrestricted fund
•    More flexible and can be used at the discretion of the university to support general operating expenses, such as faculty salaries, utilities, and day-to-day campus operations. 
•    While these funds are not tied to a specific project or program, they are vital for maintaining university core activities, as they allow the university to address immediate needs and allocate resources where they are most needed.
•    The distinction between restricted and unrestricted funds is essential in financial planning, as it determines how resources can be allocated and used across the university.
- Requirements
•    Expertise in higher education and academic healthcare: the consulting firm must bring extensive experience working with large, complex, research focused universities with an academic healthcare system. 
•    Expertise in financial planning, modeling, and analytics: the consulting firm must bring extensive knowledge and expertise in financial planning, modeling, and analytics, and be capable of providing guidance to improve university financial planning and analysis processes throughout the implementation. 
•    The firm must have experience with fund accounting as used by public universities. 
•    Project management: the consulting firm must provide a dedicated project management team that will be responsible for overseeing the implementation process, ensuring that the project stays on schedule, within budget, and aligned with university strategic objectives. 
•    Requirements gathering and validation: facilitate seasoned stakeholders to gather, refine, and validate business and technical requirements for the system. 
•    This includes documenting current business processes, ensuring alignment with system capabilities, and identifying any gaps requiring configuration or customization. 
•    Configuration and customization of system: provide configuration and, where necessary, customization of the software to support university defined business processes, workflows, and reporting needs. 
•    This includes setup of system parameters, user roles and permissions, and business rules, as well as the development of customizations where out-of-the-box functionality does not meet requirements. 
•    Building ai-enabled processes: collaborate with university staff to integrate ai into the implementation, enhancing productivity and driving more effective outcomes. 
•    Data and system integration: work with university staff in integrating the financial planning software with complex enterprise resource planning (ERP) systems, such as banner, and other university systems (e.g., facilities management, HR, and student systems). 
•    The implementation partner must ensure that data flows smoothly between the new system and existing university systems. 
•    The implementation should also consider that the university’s ERP system will likely be changing during the next 5-7 years and should be system-agnostic.
- Availability and location: time zone alignment and onsite and remote mix.
- Budget: $140,001.00 

- Contract Period/Term: 3 years
- Pre-Submission Conference Date: November 19, 2025
- Questions/Inquires Deadline: December 3, 2025