December 8, 2017
Treasury, in its continued efforts to improve the effectiveness of services provided, is pursuing improved technology to support it in carrying out its activities. The intent of this Request for Proposals (“RFP”) is to obtain proposals from qualified firms interested in providing an automated reconciliation software solution.
Treasury performs reconciliation of 58 bank accounts from 7 different banks. Once the bank reconciliations are completed, Treasury staff develop journal entries as needed for entry to the State’s financial system, “RIFANS” (Oracle Financials version 12) for all open items that require adjustments and returned items. The approximate annual item count is 2,000 journals.
Preference will be given to a company that
• Facilitates the automation of these entries, and has the capability of performing the appropriate matching
of bank and corresponding accounting entries within the system. The description of this capability should
be detailed in the RFP response, confirmed by onsite demos, and verified by vendor-provided references,
• Has the capability of handling multiple users working simultaneously on different tasks and accounts.
• Provides a robust reporting package without the need to utilize external software.
• Provides a great customer service experience, including during interactions in the RFP process.
STATE TREASURERS OUTLINE INFRASTRUCTURE PRINCIPLES IN RESPONSE TO PRESIDENT TRUMP’S $1.5T PROPOSAL https://t.co/0YaZMKUsrG