Information Technology Financial Management System

The Vendor is required to provide an information technology (IT) financial system solution.
- This method is inefficient, prone to errors, and lacks integration, making it difficult to catch missing items or account for changes.
- Solution that would immediately begin reviewing the current rates and methodology and provide recommendations for improvements and updates to the current process.
- The solution would also need to develop updated rates for the upcoming biennium, be able to make mid-biennium rate adjustments as needed and track the trend and spend of current rates for reporting purposes and transparency to our customers.
- Internal customers are billed through an automatic pull from their budget accounts, while external customers receive manually generated invoices
- This fragmented approach involves compiling data from various systems into Excel files and PDFs, which are then processed and uploaded into the Advantage 4 interface.
- Failures in the automatic pull process can result in unpaid services, requiring manual intervention.
- looking for a developed Accounts Receivable system that tracks invoices and payments per customer and can provide reporting information.
- currently uses an Excel workbook to track its budget, which involves manually inputting expenses, updating them in the financial system, and reconciling them with data from the Data Warehouse.
- This process is labor-intensive and prone to errors, as it requires multiple updates and cross-referencing transactions against the budget book.
- The current process is almost completely manual which can result in a higher rate of errors, time consuming, and lack of efficiency.
- looking for a platform that will track budgets specifically by pulling data from the receivable accounts with the rates, accounts payable side, and pulling data in from other systems to frame the base of the budget.
- This manual process, as documented in Problem Statement 3, is labor-intensive and prone to errors. 
- A unified system that automatically connects the accounts payable process to the budget would reduce manual work and eliminate the need for multiple tracking systems
- Travel requests and claims are tracked in the budget spreadsheet, with backup documentation stored separately. 
- This disjointed system makes it difficult to link expenses with their corresponding documentation. Similarly, contracts are tracked in a separate file, with payments logged in both the budget spreadsheet and the contract log, but without any connection between the two.
- System that will track travel and contracts and link them to the accounts payable system without having to create additional manual trackers for each step.

- Contract Period/Term: 5 years
- Questions/Inquires Deadline: November 05, 2025