ERP Financial System

The Vendor is required to provide regarding modern, cloud-based enterprise resource planning (ERP) platforms capable of supporting financial, operational, and administrative functions in a public-sector environment, supports fund accounting , grant and project tracking, purchasing and encumbrance management, inventory operations, fixed asset lifecycle management, reporting, workflow automation, and strong internal controls appropriate for a public-sector organization.
- ERP requirements matrix
1. Financial structure, fund accounting, grants and projects
•    Support multi-fund accounting per GASB: general fund, capital fund, internal services fund, proprietary fund, etc. 
•    Support multi-fund transaction distributions, i.e. cash allocation by fund, AP allocation by fund. 
•    Support grant accounting with tracking and reporting. 
•    Support project accounting with budgeting and reporting 
•    Track encumbrances and actuals by grant and project 
•    Section for leases and subscriptions management
2. Budgeting and encumbrance controls
•    Create encumbrances at requisition level
•    Maintain encumbrances through full lifecycle until payment 
•    Prevent double counting of encumbrances and actuals 
•    Automatically relieve encumbrances upon payment and receipt. 
•    Hard-stop budget enforcement 
•    Display remaining budget after approval 
•    Budget override restricted to authorized budget staff
3. Purchasing, workflow and change orders
•    Reliable requisition workflow 
•    Workflow transparency (status visibility) 
•    Support approval thresholds: $1k–$100k p-4 rules-based routing (budget approvers, hierarchy, approval limits, fund, division, grant, accounts, etc.) 
•    Change orders initiated by budget owner 
•    Support change types: price, quantity, scope, vendor, account code. 
•    Allow correction and resubmission prior to final approval requisitions to PO process with 2-way and 3-way matching. 
•    The complex workflow is set up based on a combination of budget approvers, hierarchy etc. 
•    Punch-out capabilities with vendors via CXML such as amazon. 
•    Add “AP deferrals and pre-paids capability and reporting. 
•    AP deferrals and prepaid capability and reporting. 
•    Ability to record retainage on construction invoices.
4. Accounts payable and p-card
•    OCR invoice automation and ability to email in all invoices and have an unpaid invoice repository. 
•    Invoice format learning capability 
•    Duplicate invoice prevention 
•    Pattern-based duplicate detection 
•    Create AR invoices and email customers when needed. 
•    Route AR invoice for approvals. 
•    Prevent duplicate payments 
•    P-card integration from a bank and ability to reconcile p-card expense reports, route for approvals and employee reimbursement expenses and ability to pay employee reimbursements. P-card receipt management functionality. 
•    Prevent duplicate p-card transactions
•    Identify failed and unposted p-card transactions
5. Fixed assets
•    Fixed asset creation from purchasing/AP/projects/grants. 
•    Ability to track governmental assets separately from business assets. 
•    Allow for separate fixed asset process (modified accrual method, business accounting) 
•    Depreciation methods 
•    Track asset location and custodian
•    Asset transfers, disposals, adjustments and splits. 
•    Full asset lifecycle audit trail and roll-forwards.
6. Reporting and analytics
•    Open requisitions report and lines. 
•    Open purchase orders report and lines 
•    Po balance reporting including delivery remainder, invoice remainder, etc. 
•    Budget vs actual (monthly/quarterly/annual) with details of purchases. 
•    Division-level reporting 
•    Save custom report views 
•    Scheduled report delivery 
•    Bi tool 
•    Financial statements reports (balance sheet and income statement).
7. Banking and cash management
•    Bank reconciliation including check numbers 
•    Automated bank feeds (i.e. vendor payments processing include different payment types). 
•    Reconciliation audit trail.