Scope
Description
SMG is looking for a software from a functional capability that can automate the reconciliation process, reducing manual intervention and errors. Software that provides a detailed audit trail that tracks all changes, reviews, and approvals made during the reconciliation process. In addition, the software needs to be able to integrate seamlessly with existing ERP systems and other financial systems to ensure data consistency and accuracy. Furthermore, the software should provide real-time updates and notifications for any changes or discrepancies identified during the reconciliation process. Robust controls would be required to ensure that only authorized personnel can review and approve reconciliations and assist in standardising reconciliations.
Contract 1
Supplier
Contract value
- £92,812.50 excluding VAT
- £111,375 including VAT
Above the relevant threshold
Award decision date
1 October 2025
Date assessment summaries were sent to tenderers
1 October 2025
Standstill period
- End: 27 October 2025
- 8 working days
Earliest date the contract will be signed
31 October 2025
Contract dates (estimated)
- 1 November 2025 to 31 October 2027
- Possible extension to 31 October 2029
- 4 years
Description of possible extension:
Option to extend for up to 2 additional years at SMG's sole discretion
Main procurement category
Goods
CPV classifications
- 48000000 - Software package and information systems
Information about tenders
- 7 tenders received
- 7 tenders assessed in the final stage:
- 3 submitted by small and medium-sized enterprises (SME)
- 0 submitted by voluntary, community and social enterprises (VCSE)
- 1 supplier awarded contracts
- 6 suppliers unsuccessful (details included for contracts over £5 million)
Procedure
Procedure type
Open procedure
Supplier
FloQast Inc
- Public Procurement Organisation Number: PJGR-9982-NVWJ
14721 Califa St
Sherman Oaks
91411
United States
Email: compliance@floqast.com
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 1
Contracting authority
Science Museum Group
- Public Procurement Organisation Number: PDTR-3338-MNPG
The Science Museum
London
SW7 2DD
United Kingdom
Region: UKI33 - Kensington & Chelsea and Hammersmith & Fulham
Organisation type: Public authority - central government