180000000061 RFP.docx
DOCX document 82 KB Posted
- Solicitation number
- NIA1 171 180000000032 1
- Issued by
- Michigan
About this file
This is a Notice of Non-Award issued by the State of Michigan Department of Technology Management & Budget (DTMB) regarding Request for Proposal #171-1800000000061 for the Bureau of Investments (BOI) Investment Accounting and Portfolio Management System. The State solicited proposals for a Software as a Service (SaaS) solution to replace the current investment accounting and portfolio management system before its contract expiration. The RFP was posted on SIGMA VSS on September 13, 2017, with a response deadline of October 17, 2017, at 3:00 PM EST. Five bidders submitted proposals: SimCorp USA, Inc.; Broadridge Financial Solutions; Clearwater Analytics; Eagle Investments System; and State Street Corporation.
The Joint Evaluation Committee, chaired by DTMB Procurement and including voting members from DTMB and the Michigan Treasury Department, determined that none of the submitted proposals met the mandatory minimum requirements outlined in the RFP. Consequently, the RFP was cancelled. The State indicated its intent to review next steps and publish a new RFP for Investment Accounting and Portfolio Management System services in the future, with encouragement for all bidders to respond to future solicitations.
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STATE OF MICHIGAN
ENTERPRISE PROCUREMENT
Department of Technology Management & Budget
525 W. Allegan Street, PO Box 30026, Lansing, MI 48909
Request for Proposal # 171-1800000000061 Notice of Non-Award
GENERAL
The State of Michigan (State) issued this Request for Proposal (RFP) to solicit proposals for the Bureau of Investments (BOI) Investment Accounting and Portfolio Management System. BOI has the need to implement a Software as a Service (SaaS) solution to function as an investment accounting and portfolio management system as the current contract is set to expire in the near future.
JOINT EVALUATION COMMITTEE
A Joint Evaluation Committee (JEC), chaired by the Department of Technology Management and Budget (DTMB) Procurement was established to evaluate proposals. The table below details the JEC membership:
| Voting Members |
| Advisory Members |
Jarrod Barron, DTMB, Chair Mahfuzur Rahman, DTMB Kristen Robel, TREASURY Karen Stout, TREASURY David Conarton II, DTMB Darrell Hill, DTMB Semone James, TREASURY
BIDDERS
The State posted the RFP on SIGMA VSS on 09/13/2017. The following bidders responded by the deadline of 10/17/2017 3:00pm EST:
SimCorp USA, Inc 1 State Street 29th Floor New York, NY 10004
USA
Broadridge Financial Solutions One Park Avenue 12th Floor New York, NY 10016 Clearwater Analytics 777 W. Main Street Suite 900 Boise, ID 83702 Eagle Investments System 45 William Street Suite 200 Wellesley, MA 02481
State Street Corporation 1 Lincoln Street Boston, MA 02111
AWARD PROCESS & RECOMMENDATION
After reviewing the proposals received, the JEC has determined that none of the proposals met the mandatory minimum requirements listen in the RFP. Accordingly, the RFP has been cancelled. The State will review next steps and will publish an RFP pertaining to the Investment Accounting and Portfolio Management System services in the near future. All bidders are encouraged to responsd to any RFP’s published in the future.
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