Lease Management and Accounting Solution

Background

Virginia Commonwealth University (VCU) is seeking proposals for a lease management and accounting solution to manage its portfolio of over 250 real estate leases and agreements. The goal is to procure a solution that enhances reporting capabilities, ensures accuracy, and supports financial planning and strategic decision-making. VCU is a prominent research university located in Richmond, Virginia, with a commitment to inclusivity in public procurement and a significant economic impact on the state.

Work Details

The selected firm will provide a lease management and accounting solution that includes: - Robust reporting capabilities with customizable reports for financial planning and compliance. - User-friendly functionality for efficient tracking of lease data. - Integration with existing systems, particularly VCU's finance ERP, Ellucian Banner. - Support for managing up to 250+ leases with scalability for future growth. - Automated tracking of key lease terms, critical dates, and financial obligations. - Ongoing support and maintenance including help desk services, updates, and training for end users.

Period of Performance

The contract term is expected to be 2 years with an option for up to three 1-year renewals upon mutual agreement.

Place of Performance

The services will be performed at Virginia Commonwealth University’s facilities in Richmond, Virginia.

Bidder Requirements

Firms must demonstrate experience in delivering technology solutions in similar environments. They should provide references from comparable clients, qualifications of key personnel assigned to the project, and a commitment to utilizing Small Business and Supplier Diversity (SBSD) certified businesses.