Title
Financial Management Information System (B)
Staff recommends awarding a contract to Axon Solutions, Inc. for a Financial Management Information System.
Explanation
The Utility relies upon its Financial Management Information System (FMIS) to track revenues and expenditures of all its operating and administrative departments. The financial system assists staff with managing debt, transferring balances, and overseeing interest, liabilities, asset valuation and investments. The FMIS is a critical tool in producing accurate and timely information to staff while integrating with other Utility systems. This system supplies utility operating units and administrative divisions with monthly income statements and reports which allows departments the ability to track and analyze capital and operation and maintenance budgets against actual expenditures.
The Utility’s existing FMIS, implemented in 1999, will be retired and no longer supported by the vendor within a year through a maintenance agreement. In addition, the system has limitations in its business process functionality. Much of the information is derived manually which is cumbersome and an inefficient use of staff time and resources. The recommended solution includes General Ledger, Accounts Payable, Accounts Receivable, Inventory, and Purchasing which will be implemented using the SAP software solution.
A Request for Proposal for the FMIS replacement was sent to eleven (11) prospective firms in August 2007 with five (5) responding. The proposals were evaluated in three phases. The first phase of the evaluation was based on functional requirements, implementation plan/strategy, company profile and solution cost. The three (3) highest ranked firms were evaluated in the second phase which included presentations, reference checks, and innovation and flexibility of the firm. At the end of phase two of the evaluation, Axon Solutions, Inc. was determined to have the best overall scoring. The thir...
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