Section one: Contracting authority/entity
one.1) Name and addresses
BANK OF ENGLAND
Threadneedle Street
LONDON
EC2R8AH
Contact
Technology Procurement Team
Technology.contracts@bankofengland.co.uk
Telephone
+44 2034614444
Country
United Kingdom
Region code
UKI31 - Camden and City of London
Companies House
RC000042
Internet address(es)
Main address
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Oracle Cloud Implementation
Reference number
CON/1001132
two.1.2) Main CPV code
- 72263000 - Software implementation services
two.1.3) Type of contract
Services
two.2) Description
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement at the time of conclusion of the contract:
The Bank of England is looking to engage a strategic integration partner to support the implementation of technical and change management aspects of the Oracle Cloud implementation and business change programme.
two.2.7) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months
36
In the case of framework agreements, provide justification for any duration exceeding 4 years
Initial term of 36 months following implementation of the service.
Section four. Procedure
four.2) Administrative information
four.2.1) Contract award notice concerning this contract
Notice number: 2023/S 000-027050
Section five. Award of contract/concession
Contract No
CON/1001132
five.2) Award of contract/concession
five.2.1) Date of conclusion of the contract/concession award decision:
20 June 2023
five.2.2) Information about tenders
The contract/concession has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor/concessionaire
VERSION 1 SOLUTIONS LIMITED
Birmingham
Country
United Kingdom
NUTS code
- UK - United Kingdom
Companies House
03438874
The contractor/concessionaire is an SME
No
five.2.4) Information on value of the contract/lot/concession (at the time of conclusion of the contract;excluding VAT)
Total value of the procurement: £8,718,830
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
High Court, Royal Courts of Justice
London
Country
United Kingdom
Section seven: Modifications to the contract/concession
seven.1) Description of the procurement after the modifications
seven.1.1) Main CPV code
- 72263000 - Software implementation services
seven.1.3) Place of performance
NUTS code
- UK - United Kingdom
seven.1.4) Description of the procurement:
The Bank of England is looking to engage a strategic integration partner to support the implementation of technical and change management aspects of the Oracle Cloud implementation and business change programme.
seven.1.5) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months
36
seven.1.6) Information on value of the contract/lot/concession (excluding VAT)
Total value of the contract/lot/concession:
£8,718,830
seven.1.7) Name and address of the contractor/concessionaire
VERSION 1 SOLUTIONS LIMITED
Birmingham
Country
United Kingdom
NUTS code
- UK - United Kingdom
Companies House
03438874
The contractor/concessionaire is an SME
No
seven.2) Information about modifications
seven.2.1) Description of the modifications
Nature and extent of the modifications (with indication of possible earlier changes to the contract):
Amendment to the Bank's Application Management Service contract following a change in scope.
Descriptions of the modifications
Change 003a amended the scope to include Oracle Accounting Hub = +£0.28m
Change 004 amended the scope of the change management workstream = +£0.03m
Change 006 amended the scope to include Oracle Cloud Payroll to the Service = +£0.03m
Change 008a amended the scope to include design of the infrastructure and access for the reporting platform = +£0.12m
Change 012 amended the scope to include configuration of an IDCS solution for Oracle Cloud Recruitment = +£0.03m
Change 014 amended the scope to include changes to the solution following UAT of Oracle Cloud Recruitment = +£0.01m
Change 020 amended the scope to include changes to the solution following UAT of Oracle Cloud Recruitment = +£0.01m
Change 025 amended the implementation methodology, from a two phase approach, to a multiple phase approach with Oracle Modules going live based on the Bank's priorities = +£4.07m
seven.2.2) Reasons for modification
Need for additional works, services or supplies by the original contractor/concessionaire.
Description of the economic or technical reasons and the inconvenience or duplication of cost preventing a change of contractor:
This contract is being modified in accordance with Regulation 72(1)(b) of the Public Contracts Regulations 2015, and the change is made for additional services or supplies by the original contractor that have become necessary and were not included in the initial procurement, where a change of contractor -
(i) cannot be made for economic or technical reasons such as requirements of interchangeability or interoperability with existing equipment, services or installations procured under the initial procurement, and
(ii) would cause significant inconvenience or substantial duplication of costs for the contracting authority
provided that any increase in price does not exceed 50% of the value of the original contract
seven.2.3) Increase in price
Updated total contract value before the modifications (taking into account possible earlier contract modifications, price adaptions and average inflation)
Value excluding VAT: £8,718,830
Total contract value after the modifications
Value excluding VAT: £13,817,367.85