Specifications include, but are not limited to: - Intuitive and User-Friendly Interface: A user interface that is easily navigable, customizable based on functional roles, and efficient for managing financial operations. - Comprehensive Financial Management Tools: Including accounting, budget tracking, expenditure tracking, and financial reporting capabilities where reportable datasets are accessible and secured based on functional roles. - Data Integration and Management: Ability to seamlessly integrate with existing state systems and manage large volumes of financial data. - Use of enabling technologies to optimize provided functionality. - Real-Time Analytics and Reporting: Tools for real-time financial monitoring, analytics, and customizable reporting to support decision-making that is secured based on functional roles and aligns with the organizational structure that exists. - Regulatory Compliance: Features, including automated regulatory updates within the system, in ensuring adherence to financial regulations and standards. - Enhanced Security Measures: Robust security protocols to safeguard financial data against unauthorized access and cyber threats. - Scalability and Flexibility: A system that can adapt to the evolving financial needs and scale of the State. - Vendor and Contract Management: Tools to manage vendor relationships and track contractual obligations and expenditures. - Workflow Management: Development of an enterprise-wide standard workflow with the ability to localize 2-3 tiers of workflows above the standard, such that departments requiring additional workflow layers can be configured and self-served above the baseline standard. - Configuration and Flexibility: Options for configuring the system to align with the State's unique financial processes.
