Financial Services
Introduction
The Financial Services Framework, managed by Crescent Purchasing, is a structured procurement route designed to facilitate the acquisition of financial management and accounting services. This framework is set to run until the 8th of August 2025 and is part of the broader 'Financial Services' category. Unlike a Dynamic Purchasing System, this framework is a fixed-term agreement that offers a stable and comprehensive procurement solution for public sector entities seeking specialised financial services. The primary objective of this framework is to support public sector organisations in managing their financial operations effectively and strategically.
Context & Use Case
The Financial Services Framework is an essential tool for public sector bodies that require external expertise to enhance their financial operations. Contracting authorities utilise this framework to procure services that ensure sound financial management, compliance with regulatory standards, and optimal use of financial resources. The framework is particularly useful for entities that need to bolster their financial planning and reporting capabilities, streamline accounting processes, or implement robust financial systems. By leveraging this framework, public sector organisations can access a wide range of financial services that are crucial for maintaining fiscal responsibility and achieving strategic financial objectives.
Scope of Services
The Financial Services Framework covers a diverse array of services tailored to meet the varied needs of public sector organisations. These services typically include: 1. Strategic financial planning and support, which involves developing long-term financial strategies and short-term financial plans to achieve organisational goals. 2. Comprehensive financial systems services that encompass the design, implementation, and maintenance of financial software and systems. 3. Accounting services, including bookkeeping, financial reporting, and auditing to ensure transparency and accuracy in financial records. 4. Advisory services on financial regulations and compliance to help organisations navigate complex regulatory environments. 5. Risk management and financial analysis to identify potential financial risks and opportunities, ensuring informed decision-making.
Who Can Apply
The framework is open to suppliers that specialise in financial management and accounting services. Suitable suppliers are typically those with proven expertise and experience in delivering high-quality financial services to public sector clients. While this framework is not a Dynamic Purchasing System, which allows for ongoing applications, suppliers interested in participating should ensure they meet the framework's entry criteria and align with its service requirements. It is advisable for potential suppliers to engage with the Crescent Purchasing authority to understand the specific application process and criteria.
Buyer Benefits
Public sector buyers benefit significantly from using the Financial Services Framework, as it provides a compliant and efficient route to market. The framework ensures that all procurement processes adhere to regulatory standards, thus minimising the risk of non-compliance. Furthermore, the framework facilitates a quicker procurement process, enabling buyers to access the necessary services in a timely manner. By fostering competition among pre-approved suppliers, the framework ensures that buyers can obtain high-quality services at competitive prices, ultimately leading to better value for money.
Lots
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Next Steps
For suppliers considering applying to the Financial Services Framework, it is crucial to review the framework requirements thoroughly and ensure alignment with the service scope. Direct contact with Crescent Purchasing will provide detailed guidance on the application process and any specific criteria that need to be met. Engaging early with the framework owner can also provide insights into upcoming opportunities and potential collaborations.
How Biddable Can Help
Biddable assists suppliers in navigating the complexities of public sector procurement by providing resources and insights necessary for successful participation in frameworks like the Financial Services Framework. By offering discovery tools and preparation support, Biddable ensures that suppliers have the visibility needed to develop a robust pipeline of opportunities, enhancing their ability to compete effectively in the public sector marketplace.