Enterprise Resource Planning System

The Vendor is required to provide enterprise resource planning system for include:
- Employee setup
• Role-based access control: define permissions for users based on their roles within the organization
- Integration and data exchange
• ERP integration: ability to integrate seamlessly with other existing systems for data synchronization
• API support: robust API for integrating with third-party applications
• Import/export data: support for importing and exporting data in various formats (excel, csv, etc.) To facilitate data migration or external reporting
• Bank integration: ability to integrate with banks for automated transaction imports and reconciliation
- Budgeting
• Budget management module to allow users to create, track, and revise budgets for each school/department.
• Uses my-budget-file through PowerSchool.
• Forecasting tools that integrate historical data with predictive algorithms to help forecast future budget numbers
• Variance analysis capability to compare actual vs. budgeted performance and generate reports on variances for each school and department
• Sandbox or scenario planning ability for departments to create multiple financial scenarios (best case, worst case, etc.) And analyze impacts of each potential budget
- GL account structure/setup
• Needs ability to track budget, commitments, actual costs, and subledger (project) costs
• Chart of accounts - ability to incorporate and extend current GL structure “1-600-300-0000-000”
• Needs ability to add additional flags on GL accounts to enable fund and alias reporting
• Subledger or job/project costing to track expenses and revenues associated with specific projects, jobs, grants or contracts
- Accounts payable (expense/outgoing payments), vendor and contract management
• Ability for vendors to data input their own vendor information including banking information into system with supporting attachments that is verified by system (e.g. GST / sin verification) and approved by schools instead of schools doing the data entry
• File controls to prevent unauthorized bank updates (e.g. Auto send email to vendor when banking is updated etc.)
• More efficiently enter new data into system such as interfacing and scanning into system for new vendor, bank info, invoice etc., instead of data entry
• Input invoices into system in advance of payment due date and to manually suspend an invoice payment if information is outstanding
• Process accounts payable, eft and e-transfers, an upload system will be adequate.
• Currently processes 4-5 eft files each month
• Efficiently pay vendors in bulk and individually
• Create eft file in format required by bank/can be automatically transferred to bank from the ERP system
• Automatically send eft notifications by email to payees
• Applicable users to create, approve and post forms/transactions in system online/at different locations according to required approval process (online expense claims, invoices, journal entries, purchasing card transactions etc.)
• Modify GST amounts
• Customizable approval workflows for invoice approval before payments, etc.
• Automatic import of bank transactions for reconciliation and payments
• Contract billing: ability to manage contracts with customers, including payment schedules, terms, and pricing
- Accounts receivable (revenue/incoming payments)
• Ability to create A/R invoices, apply payments, and generate aged customer reports
• Include ecommerce system to setup and accept payment of student fees, transportation fees, community use payments, rent and other central charges
• Automated invoicing to generate and send invoices automatically based on date (e.g. Monthly rental invoices) or project milestones (joint-use projects)
• Customizable approval workflows for new fee setup, invoice approvals etc.
• Automation for recurring invoices or preauthorized debits
• Automatic import of bank transactions for reconciliation and payments
• E-commerce system for schools fees, bus fees etc.
• Track investments by cost
• Generate investment continuity schedule
- Capital asset system
• Track individual supported and unsupported assets costs, accumulated amortization
• Add/dispose of assets that will update GLS and asset system
• Run reports at any point in time to auto calculate the cost, accumulate amort, and nbv
- Tax and other government reporting
• Ability to record outgoing payments as tax reportable payments
• Ability to generate t4a slips electronically and paper to users (currently only paper) and generate t4a reporting files for the federal government
• Integration with e-filing systems for automated t4a submissions
• Record outgoing payments as board reportable for annual board reporting purposes.
• Report total annual (Jan – Dec) payments made to employees and contractors that are applicable for board premium purposes.
• On the contractor side, only payment for services to individuals would be applicable.
• Create invoices in the current system, we have an ability to select “board applicable” to include the payment on the annual board earnings report.
• GST reporting features to report to government monthly GST rebate and ITC transactions
- Financial reporting
• Ability to transfer and subsequently view historical attachments for past 7 years.
• These will be embedded and stored off premise by the ERP service provider’s cloud storage system.
• Built-in standard financial statements (pdf & excel) like trial balance, general ledger, balance sheets, income statements, and cash flow statements as well as custom reporting capabilities
• Generate vendor reports, trial balance reports, financial summaries and reports for month end and yearend, and ad hoc purposes
• Transfer historical data from old system into the new system by year
• Features that help close monthly, quarterly, and yearly periods and consolidate financial data across multiple departments
• Built-in financial metric tracking for important financial metrics like cash flow and other predetermined ratios
• Trend analysis: ability to track financial trends over time for better decision-making.