Introduction
The Atmospheric Fund (TAF) is seeking qualified vendors to provide proposals for a Financial Accounting System. TAF is searching for an accounting software package and, if necessary, a supplementary reporting software package to allow robust reporting options. (see Requirements Schedule) to support the $92M endowments with $3-$5M annual net revenues. TAF operates in a Windows IT environment with MS Office 365.
Background Information
The Atmospheric Fund currently operates two endowment funds residing in one corporate entity. With the addition of a third endowment from the Government of Canada in Q3 2020, it has become apparent that the current accounting software TAF is using for financial reporting is not robust enough to meet the reporting requirements for the City of Toronto, Province of Ontario and the Government of Canada.
Currently TAF reporting is generated from Quickbooks accounting software with only standard reporting capabilities included in the software. TAF is searching for an accounting software package and if necessary a supplementary reporting software package to allow robust reporting options. (see Requirements Schedule).
TAF will be using a fund accounting model with three separate and distinct endowments operating within one corporate entity.
Key Response Requirements
- Product Requirements Schedule met – see linked Excel document;
- Remote training of accounting personnel and other users as defined by TAF;
- Migration of data from Quickbooks to new software;
- Data security – both external security and user profile-based access security;
- IT system requirements for TAF are outlined in proposal.
Timelines
| Milestone | Scheduled Date |
| Deadline for vendor requests for information | October 12 |
| TAF responses to vendor requests for information published | October 14 |
| Expression of Interest confirmed via email | October 16 |
| Proposals due | October 30, 2020 |
| TAF notification to proponents of shortlisting | November 13 |
| Software demonstrations by shortlisted proponents | Week of November 16 |
| Final proponent selection and notification | November 27 |
| Finalization of contract & implementation schedule established | December – January |
| Installation and Set-up Kick Off Meeting | February 4, 2021 |
Evaluation Criteria
| Ranking Criteria | Percentage |
| System Requirements (in Requirements Schedule) | 50% |
| Implementation Plan, Experience | 15% |
| Cost | 25% |
| Training Plan | 10% |
Your Proposal Must Include
- Completed Requirements Schedule: responses to all Needs/Wants listed with brief explanations where warranted. Links to websites relating to software are helpful but not a substitute for the brief explanations. (please submit this schedule as an Excel document)
- Executive Summary (2 pages maximum) summarizing key aspects of the proposal and providing a key vendor contact information. The summary is an opportunity to differentiate your proposal.
- Level of experience installing the proposed software with references from similar medium sized not for profit or endowment fund enterprises. Reference contacts should be Accounting managers, or executives who review financial statements/ KPI reports.
- CV of personnel involved in the software implementation and data migration.
- Implementation plan, including stages and timeline.
- Training plan and ongoing support available.
- Detailed pricing quote which would at minimum include:
-
- Software cost (annual and/or monthly fees)
- Installation cost including data migration costs and other one-time set-up costs
- Licenses – number of licenses, current license fees (Note: TAF needs 7 licenses at minimum).
- Training and on-going support packages available
TAF reserves the right to determine, in its sole and unfettered discretion, whether any proposal meets the mandatory requirements. Proposals shall address all the requirements as outlined in this proposal in addition to any perceived or anticipated requirements determined by the Vendor.
TAF Contact & Other Information
Inquiries and general information requests* (due Oct 12), Expressions of Interest (due Oct 16), and Proposals (due Oct 30) shall all be directed to purchasing@taf.ca with the subject line TAF Accounting Software RFP 2020.
*Answers to all inquiries received from interested parties will be shared back with all interested parties on or before October 14, 2020, via email and/or may be posted to the TAF website.
Accessibility & Inclusion
We strive to build a team and supplier network that reflects the community we work in, and encourage proposals from traditionally underrepresented groups such as women, visible minorities, Indigenous peoples, people identifying as LGBTQ2S*, people with disabilities, and others with the skills and knowledge to productively engage with diverse communities. If we can make this request for proposals easier through any accommodations in the process, please let us know by emailing Jaime Klein, Operations Lead, at purchasing@taf.ca.
Confidentiality and Conflict of Interest Agreements
The successful vendor will be required to sign a confidentiality agreement and Conflict of Interest Declaration.