Financial analysis and accounting software package

Tender description

Jisc is looking to adopt a new financial system which can replace existing software and also provide new functionality. As Jisc has evolved it has outgrown its current system, and requires a new system to not only more effectively manage existing processes but also future changes to operations. Jisc has been using Sage 1000 since 2011 to manage its core financial processes. Sage is used to manage the general ledger and subsidiary ledgers for 3 entities. It is used to hold budget information and this is used alongside general ledger information to form the basis of Jisc's management accounting reports. Purchase requisitions are handled by e-Requisitions provided by Datel integrated with Sage. Functionality to provide electronic document storage and the ability to send purchase orders, remittance advices, statements and sales invoices as pdf documents by email is provided by V1 software with configured integration with Sage. Real Asset Management Asset 4 000 is currently used as a stand-alone system to provide an asset register and inventory. The proposed solution would need to replace the functionality of these products as well as provide the flexibility to adapt as Jisc's processes and operations change. Jisc is hoping to realise a number of benefits from the introduction of a new finance system, and therefore a significant return on investment, achieved by: — Reduction of manual workload; — Provision of robust reporting ability to allow Jisc to make informed business decisions; — Allowing forecasting and tracking of spend against budget; — Ability to track commitments accurately using an integrated contract management system; — Providing the capability to accurately calculate customer/member bills; — Single source of data to ensure data integrity; — A system that operates on a definable ‘user based role’ security/permissions set-up, allowing us to create highly customised controls.