Bank Reconciliation Services
Closed State & local contract opportunity Posted
- Solicitation number
- RFP-124435
- State
- Virginia
- Responses due
Opportunity facts
- Jurisdictions
- Point of contact
-
- Vernita Boone vernita.boone@trs.virginia.gov (804) 845-6439
Opportunity details come from mvendor.cgieva.com. Updated .
About this opportunity
The Virginia Department of the Treasury is soliciting proposals for bank reconciliation services under RFP BPM087898, with proposals due August 14, 2026. The procurement aims to establish one or more contracts to address immediate and future bank reconciliation needs; alliances among suppliers are acceptable, though Treasury prefers a single point of interface wherever possible.
The scope is a cloud-hosted SaaS solution capable of managing multiple companies, banks, bank pools, and ledger accounts with support for 75+ configurable fields across more than 70 bank pools. The solution must include an integrated scheduler for sequential task management, secure cloud-based file repository, automated matching of 5,000+ daily transactions using rule-based criteria, integrated reporting capabilities, and preprocessing engine functionality to replace existing macros and stored procedures. The system must integrate with the Treasury Accounting System (TAS) and Cardinal, support NACHA file generation for ACH processing, and enable data migration from the current Frontier/Recon Plus environment with parallel processing capability. All cloud services must comply with COV Information Technology Resource Management (ITRM) policy, Section 508 accessibility standards with completed Voluntary Product Accessibility Template (VPAT), and applicable federal standards including FedRAMP, CJIS, FISMA, PCI, ISO27001, FERPA, and HIPAA-HITECH. The solution must meet 24/7 availability with 99% minimum uptime, achieve incident response within one hour, restrict all content storage and processing to the United States, and provide monthly reporting on service level performance, vulnerability scanning, and patching compliance. Suppliers must complete Exhibit A by marking each requirement as "Meet" or "Does Not Meet" with detailed explanations; blank responses will be interpreted as "Does Not Meet."
Commonwealth of Virginia policy requires suppliers to identify DSBSD-certified small, women-owned, minority-owned, and service-disabled veteran-owned businesses participating in contract performance under Exhibit H. Suppliers must complete Exhibit B pricing schedule in the provided Excel format identifying one-time and recurring costs across implementation, data management, training, annual licensing, reporting, and other service categories; altered formats will result in proposal rejection. All suppliers must submit a Commonwealth Substitute W-9 Form, SCC registration documentation, supplier profile, COV RAMP security assessment questionnaire, and proposed exceptions to the VITA Standard Contract and Cloud Terms and Conditions (Exhibit E), which establishes $5 million minimum cyber security liability insurance and Service Level Agreement credits ranging from 10% to 100% of monthly payments for availability failures. Proposals must remain valid through contract award. Questions due August 7, 2026.
Opportunity text
The purpose of this Request for Proposals (“RFP”), issued by the Virginia Department of the Treasury (“Treasury”), is to solicit proposals to provide bank reconciliation services. Treasury’s expectation is that this RFP will result in the establishment of a contract, or contracts, that will provide the means to satisfy the majority of the immediate and future bank reconciliation needs.Alliances among Suppliers are acceptable to meet the requirements of this procurement. However, Treasury is interested in simplifying processes by having a single point of interface wherever possible. The Commonwealth encourages all Suppliers to bring innovative ideas and/or solutions to government—ideas that result in cost and operational efficiencies or improvements while enhancing the services that governments provide its citizens. For the purposes of this RFP, the following definitions shall apply:“Administrative Appendix” means an attachment to the RFP that serves an administrative purpose relating to the RFP process; specifically, a document that will assist in the review of the proposal but not become an Exhibit to the resulting contract“Amendment” means a material change to this RFP that requires Supplier acknowledgement; see Table 2 in Section 5 of this RFP for instructions.“eVA” means the Commonwealth’s procurement portal located at http://www.eva.virginia.gov“Exhibit” means an attachment to the RFP that will become an exhibit to the resulting contract only upon award. Certain of these Exhibits are to be populated by Supplier as part of its response to this RFP; see Table 2 in Section 5 of this RFP for instructions.“Supplier” or “Offeror” means any entity that submits a proposal in response to this RFP.
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