Request for Quotations (RFQ): Procurement and Implementation of Bank Reconciliation Software for the IFMIS Network 161 views

GM-CPCU-MOFEA-516930-GO-RFQ

Procurement and Implementation of Bank Reconciliation Software for the IFMIS Network

Procurement Method: Request for Quotations (RFQ)

The Ministry of Finance and Economic Affairs, Central Projects Coordination Unit (CPCU), is inviting sealed price quotations from eligible and qualified bidders for the Procurement, Development and Implementation of Bank Reconciliation Software for the IFMIS Network.

Background

The Government of The Gambia, through the Ministry of Finance and Economic Affairs (MoFEA) and led by the Accountant General’s Department (AGD), implemented the Integrated Financial Management Information System (IFMIS) in 2006 to improve efficiency, transparency and reliability in government financial operations.

The IFMIS currently comprises:

• Epicor Financial Management System (Epicor 10)
• NAS-DNA Payroll & Human Resource Management System
• Central Budget Management System (CBMS)
• Electronic Records Management System (ERMS)
• Treasury Management System (TMS) — Bank Reconciliation Module
• Debt Management System

Despite continuous enhancements, the existing TMS Bank Reconciliation Module faces operational limitations, including:

• Limited capability to reconcile multiple bank accounts across Ministries, Departments and Agencies (MDAs), Self-Accounting Projects (SAPs), Subvented Agencies and other government institutions
• Limited automation in transaction matching and exception management
• High dependency on manual reconciliation processes
• Difficulty tracking unresolved reconciliation items
• Limited analytical and dashboard reporting capabilities
• Delays in identifying discrepancies between bank records, IFMIS records and other collection platforms
• Limitation on onboarding additional MDAs due to existing license restrictions

With the expansion of digital payment platforms — including the Government Payment Platform (GovPay), mobile money operators, fintech platforms and increased electronic transactions — there is a growing need for a modern reconciliation solution capable of handling high transaction volumes with real-time reconciliation visibility. AGD therefore seeks to procure and implement a modern, secure, automated reconciliation software solution capable of integrating with Epicor10/IFMIS and supporting reconciliation across the entire public financial ecosystem.

Objective

To procure, install and operationalise a secure, automated Bank Reconciliation Software solution that will:

• Automate end-to-end bank reconciliation processes
• Integrate seamlessly with Epicor10/IFMIS and other government financial systems
• Support reconciliation of multiple bank accounts, institutions and transaction types
• Enable real-time reconciliation processing
• Automate transaction matching, exception management and reporting
• Improve the accuracy, completeness and timeliness of financial reporting
• Strengthen internal controls and audit compliance
• Reduce reconciliation backlogs and manual intervention
• Provide real-time visibility of outstanding reconciliation items and unresolved differences
• Support preparation of consolidated government financial statements
• Improve monitoring of government collections from banks, fintech platforms, mobile money operators and payment gateways

Alignment with PAMP and DLI Indicators

The AGD’s current TMS limitations contribute to delays in preparing Financial Statements and create vulnerabilities in cash management. The new reconciliation system will:

• Eliminate reconciliation bottlenecks and strengthen the quality and timeliness of reporting
• Improve audit readiness and financial accountability
• Enhance treasury operations and cash management
• Support Public Administration Modernization Programme (PAMP) objectives related to efficient public finance management
• Contribute to Disbursement Linked Indicators (DLIs) focused on strengthening fiscal transparency and improving financial statement timeliness
• Enhance transparency in government revenue collection and payment processes

Scope of Work

The selected firm will be responsible for the design, development, customisation, implementation, deployment, training and post-implementation support of a modern, bespoke, multi-bank reconciliation solution, without license restrictions. The source code of the solution shall be the property of the Accountant General’s Department (AGD) and shall be handed over at the end of implementation, together with all database structures, configurations, technical documentation and system components. AGD technical staff shall work with the supplier’s development team from the start of development and shall be trained on the source code, system administration and database administration before handover.

The scope of work includes:

• Requirement validation and system design
• Software development and customisation
• Database design and configuration
• Integration with existing government financial systems (IFMIS/Epicor10, CBG systems)
• Integration with commercial banks, mobile money operators, fintech platforms and payment gateways (including GovPay)
• Data migration and system initialisation
• Testing and quality assurance (System Integration Testing and User Acceptance Testing)
• User training and knowledge transfer (end-user, administrator and technical)
• System deployment, go-live support and 12 months of post-implementation support

Key Features Required

The proposed solution should demonstrate the following capabilities:

• Multisystem Integration/API — its own API to integrate/interface with banking systems, mobile money/fintech platforms, GovPay and IFMIS
• Automated Reconciliation — automated matching of bank transactions, credit card statements, EFT, cheque, cash and electronic payments against general ledger accounts
• No Restriction on Reconciliation — ability to reconcile multiple periods and multiple bank accounts simultaneously, across MDAs, SAPs and Subvented Institutions
• Manual Reconciliation — controlled manual matching, adjustments and approval-controlled overrides
• Real-Time Data Synchronisation — seamless, real-time integration with Epicor10/IFMIS
• Intelligent Matching Engine — rule-based, exact, partial and fuzzy matching; identification of duplicate and missing transactions; bulk processing and exception management
• Workflow & Internal Controls — maker-checker approval workflow, segregation of duties, role-based access control (RBAC) and escalation of exceptions
• User-Friendly Dashboards — real-time dashboards with KPIs (completion rate, outstanding items, exception volumes, processing status), drill-down and forecast analytics
• Standardisation — simplifies and standardises the reconciliation process from preparation through review and sign-off
• Accuracy & Compliance Tools — error detection, tamper-proof audit trails and internal control enforcement
• Reporting — daily/monthly/aging/exception/audit-ready reports, exportable to PDF, Excel and CSV, with scheduled and on-demand options
• Own Secure API — RESTful (SOAP where applicable), OAuth 2.0/JWT authentication, webhook notifications, full API documentation for future integrations
• Enterprise Database — PostgreSQL, Microsoft SQL Server or equivalent RDBMS, ACID-compliant, encrypted at rest and in transit, automated backup and disaster recovery (RTO ≤ 4 hours, RPO ≤ 15 minutes)
• Security — Multi-Factor Authentication, RBAC, TLS 1.2+ encryption, SSO/Active Directory integration, complete and non-editable audit trail
• Performance & Scalability — supports at least 1,000,000 transactions per reconciliation cycle, standard response time of no more than 3 seconds, minimum 99.5–99.9% system availability, and both vertical and horizontal scaling for future onboarding of MDAs, banks and payment providers
• Interoperability — support for ISO 20022, SWIFT MT940, CAMT.052/053/054, CSV, Excel, XML and JSON data formats
• Compatibility — web-based, browser-independent (Chrome, Edge, Firefox, Safari), accessible from desktops, laptops, tablets and phones
• Localisation — Gambian Dalasi (GMD) as base currency, with multi-currency support and configurable date/time/number formats

Additional Responsibilities

• Develop and customise the Bank Reconciliation Software
• Deliver installation, configuration and integration with IFMIS/Epicor10, banks, mobile money, fintech platforms and payment gateways
• Migrate opening balances and historical reconciliation data
• Conduct System Integration Testing (SIT) and User Acceptance Testing (UAT)
• Provide end-user, administrator and technical (source code/database) training, plus knowledge transfer
• Prepare full documentation: user manuals, administrator manuals, API documentation, SOPs and troubleshooting guides
• Deploy the system to production, support go-live, and resolve issues during roll-out
• Offer twelve (12) months of post-implementation support and maintenance (bug fixing, technical support, software updates, security patches, performance optimisation)

The implementation phase shall be completed within twenty-four (24) weeks of contract signature, followed by twelve (12) months of post-implementation support, in accordance with the detailed phased methodology set out in the Full Terms of Reference.

NOTE: Interested eligible Suppliers may obtain further information or the Full Terms of Reference, which contains the full technical specification, from the Central Projects Coordination Unit, Ministry of Finance and Economic Affairs, at the email addresses given below, from 8.00 a.m. to 16.00 p.m. Mondays to Thursdays and 08:00 a.m. to 12:30 p.m. on Fridays.

Bidding will be conducted through shopping procedures.

• Suppliers are required to quote for all items/cost components listed in the Schedule of Price Components below. Suppliers wishing to offer discounts are to include these in the schedule of prices.
• Quotations and related documentary evidence must be delivered to the address below on or before Monday, 31 August 2026 at 12:30 p.m.

Ngenarr Sosseh: nsosseh@cpcumof.gm | Yiramba Gassama: ygassama@cpcumof.gm | Rohey Sey: rsey@cpcumof.gm | Lamin MK Touray: mktouray@cpcumof.gm

Evaluation Requirements

The bidder shall furnish documentary evidence of the following:

• Updated Gambia Public Procurement Authority (GPPA) Registration
• Proof/reference of at least one similar contract for the development of a financial management system, performed in the last five (5) years
• Evidence that the firm has at least five (5) years’ experience in developing applications, with a proven track record of developing financial management systems and enterprise software solutions, including API development
• Project Manager: degree in Information Technology, Computer Science, Business Administration or a related field, with proven experience managing enterprise software implementation projects
• Lead Developer/Solution Architect: bachelor’s degree in Information Technology or relevant Application Development certification (Master’s Degree an added advantage), with at least 5 years’ Application Development experience and strong experience in software architecture, database development and API integration
• Two (2) additional Software Developers with relevant Application Development certification and skills, and at least 3 years’ experience developing applications (a bachelor’s degree will be an added advantage)
• Database Administrator with experience in enterprise database management and backup/recovery (experience with government financial systems is an advantage)
• Proposed implementation methodology and detailed project timeline (24-week implementation plus 12 months’ post-implementation support)

Technical Evaluation Criteria

Technical responsiveness will be scored against the following criteria (full methodology in the Terms of Reference):

Instructions to Suppliers

Your quotation(s) should be submitted as per the following instructions and in accordance with the Terms and Conditions of supply:

(i) PRICES: The prices quoted shall be fixed and not subject to any price adjustment. All quotations shall be inclusive of all taxes as per the Gambia Tax laws.

(ii) EVALUATION AND AWARD: Bidders will first be evaluated against the Technical Evaluation Criteria above and the Evaluation Requirements. Contract award will be made to the bidder that meets the minimum technical qualifying score, has implemented at least one similar financial management system within the last 5 years, meets the required technical specifications in the Full Terms of Reference, and offers the lowest evaluated price among technically responsive bidders.

(iii) VALIDITY OF THE OFFER: Your quotation(s) should be valid for a period of 90 days from the date of receipt of quotations.

(iv) IMPLEMENTATION TIMEFRAME: The implementation period is twenty-four (24) weeks from contract signature, followed by twelve (12) months of post-implementation support and maintenance. Partial quotations will not be accepted.

(v) SUPPORTING DOCUMENTATION: Bidders are required to submit a detailed technical and functional compliance matrix against the requirements in the Full Terms of Reference, together with company profile, evidence of similar work, proposed system architecture, and product literature/screenshots where applicable.

(vi) WARRANTY & SUPPORT: The solution shall be covered by a minimum of twelve (12) months of post-implementation support and warranty from the date of final acceptance/go-live, covering bug fixing, technical support, software updates and security patches, in accordance with the Terms of Reference.

Yours Faithfully,

Project Coordinator

CPCU – MoFEA