Background and Scope
Hurricane Irma is the most powerful storm recorded in Atlantic hurricane history. The BVI bore the brunt of Irma’s devastation with its eye passing over the Territory on September 6th, 2017 with 185 miles per hour sustained winds gusting to 215 miles per hour. To guide an effective, efficient and transparent recovery process, the Government of the Virgin Islands has established the Virgin Islands Recovery and Development Agency (the RDA) to implement the Virgin Islands Recovery and Development Plan.
Transparency of financial information is critical to the RDA’s success and therefore, monitoring the financial performance of each project to reporting to our donors and sponsor, how we have used the money which they have contributed to the RDA, we must ensure that we maintain adequate financial records which can be accessed quickly and easily when needed.
The RDA will be implementing financial reporting software before 30th September, 2018 and wishes to have a technical specification of the appropriate software to purchase. The RDA is desirous of the selected entity or individual to facilitate an understanding of how best to effectively leverage automation and information technology, ensuring that they can execute on their strategy, achieve financial objectives and develop a roadmap which has a list of recommendations which are designed specifically to their needs with regards to an appropriate financial reporting package.
The specific financial reporting software recommendation meet the following criteria:
- Able to individually track revenues (grants, donations, etc.) received by the RDA; allocated to a detailed list of projects and mandates;
- Able to input and track expenses in detail for each project and mandate identified by the Agency;
- Allow for inputting and tracking of budgets of each of these project/mandates;
- Detailed reporting functionality allowing the user to report on the individual projects/mandates and allow for advanced analytics;
- Accessible from anywhere when needed to allow a user to provide appropriate persons with the information they desire on demand;
- Follow internationally-recognised business continuity specifications with regards to backup and recovery
- Contain audit-trail functionality to track all changes within the financial information and able to be audited by a qualified professional
The following is not all inclusive of proposal material, however the items noted below should be present in the proposal:
- General Ledger / Financial Reporting by project/mandate
- Accounts Payable
- Accounts Receivable / Cash Collections and receipting
- Bank Reconciliation
- Budgeting by project/mandate
- Fixed Assets
- Project Accounting
- Purchasing, Purchase Order creation, approval and tracking
- Implementation and training
The bidder is responsible for providing all information requested in this RFP and failure to do so may result in disqualification of the proposal. During the evaluation process, the RDA may request firms to answer further questions about their proposal. You can download this complete RFP here: RFP Technical Specifications for Accounting System.
The RDA reserves the right to negotiate with any applicant whose proposal is within the competitive range with respect to professional services and cost.
Screening and Ranking Process
Proposals will be rated and ranked based on but not limited to the following criteria:
- Compliance with RFP
- Software design and capabilities
- Fees associated with the proposal
Implementation Plan Proposal Preparation Expenses
The RDA will not be responsible for expenses incurred in preparing and submitting the proposal. Such costs should not be included in the proposal.
Right to Cancel RFP
The RDA may cancel this RFP and any bid may be rejected in whole or in part when, in the sole opinion of the RDA it is in the best interests of the RDA.
Right to Reject Proposals
The RDA reserves the right to reject any and all proposals for any reason whatsoever. If a contract is awarded, it will be awarded to the bidder whose bid is deemed by the RDA to be in the best interest of the RDA and may not be the low bid.
Right to Terminate Contract
The RDA reserves the right to cancel the whole or any part of a contract issued for any reason whatsoever with 30-day notice. The RDA will issue a written notice of default to the Contractor for failing to act in compliance with the terms and conditions of such contract.
The RDA makes a positive effort to utilise local business and representatives in procuring services. Please state in your proposal if your firm is such. Preference is given to local firms provided that they are otherwise qualified.
If portions of the work will be subcontracted, the name and qualifications of the proposed subcontracting firms must be clearly identified in the proposal. Following the award of the contract, no additional subcontracting will be allowed without the express prior written consent of the RDA.
Responses to this RFP will be received until 4:00 p.m. , Friday 7th September, 2018.
All proposals should be delivered to:
Attn: Mr. Neil Smith
Wickham’s Cay, II
Or electronically to: email@example.com
Key contacts for the proposal:
Neil M. Smith
RDA Implementation Task Force
All submittals will remain confidential until contract award is made.
31st August 2018
Road Town, Tortola
By: Neil M. Smith, RDA Implementation Task Force