Budget and Forecasting System

Concepts

• financial analysis and accounting
• dorchester
• other budget holders
• budget holders
• budget creation
• budgets
• enable forecasting
• streamlined forecasting
• forecasting
• system

Location

Geochart for 1 buyers and 0 suppliers

Magna Housing

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Description

Magna Housing Ltd is seeking a new budgeting system to support our finance team and budget holders in managing and tracking financial performance effectively. The goal is to implement a tool that allows for streamlined forecasting, budget creation and real-time performance monitoring, enhancing both operational efficiency and strategic decision-making across the organisation. The system must provide an easy-to-use, cloud-based solution that caters to various roles beyond finance professionals, including department heads and other budget holders. We are inviting expressions of interest from companies capable of supplying, implementing, and setting up the system (or linking to a third-party provider who can handle setup) to participate in a tender process in January/February 2025. The contract award is expected in late March 2025, with project commencement in April 2025. The selected system must be fully operational by the start of the 2026/27 budget cycle. Core Features: Forecasting: Enable forecasting at both department and organisation levels for a period greater than 12 months. Allow input of actual financial data alongside future projections to facilitate in-year and future forecasting. Consolidation & Metrics: Automatically consolidate budgets and provide key metrics to track performance across departments and the organisation as a whole. Licences: Support input for approximately 40-50 user licences, with role-based access for different users. Cloud-Based & Accessibility: The tool must be cloud-based to ensure accessibility from anywhere, with a user-friendly interface suitable for both finance professionals and other departments. Automation: Include automation capabilities for data entry, adjustments, and reporting to streamline budgeting and reduce manual processes. Usability: Ensure ease of use, with an intuitive design that can be adopted by non-finance staff, including simple workflows for collaboration and approvals. This streamlined tool will help manage budgets, track forecasts, and integrate financial data in an efficient, automated, and accessible environment, ensuring ease of use across all levels of an organisation.

Total Quantity or Scope

YEAR: 2025/2026; BUDGET: 75,000.00 YEAR: 2026/2027; BUDGET: 35,000.00 YEAR: 2027/2028; BUDGET: 35,000.00

CPV Codes

• 48440000 - Financial analysis and accounting software package

Indicators

• Contract is suitable for SMEs.