The Mauritius Investment Corporation Ltd (MIC) is a fully owned subsidiary of the Bank of Mauritius. Its primary objectives are to support and accelerate the development of Mauritius and build a savings base for the citizens of Mauritius. The MIC (‘Company’) wishes to acquire an accounting software which should be able to undertake the following list of activities.
REQUEST FOR PROPOSAL
ACQUISITION OF ACCOUNTING SOFTWARE
The Mauritius Investment Corporation Ltd (MIC) is a fully owned subsidiary of the Bank of Mauritius. Its primary objectives are to support and accelerate the development of Mauritius and build a savings base for the citizens of Mauritius.
The MIC (‘Company’) wishes to acquire an accounting software which should be able to undertake the following list of activities:
- Report receipts & payments and consolidate multiple entities;
- Generate an output of all accounting entries for a user specified period, to record dates of events and generate & maintain sequential documents;
- Integrate G/L, accounts payable, accounts receivable with all the subledgers and synchronize with the G/L in online, real-time manner;
- Maintain approval hierarchy and competent authority approval before the release of payment;
- Pass the entries in the next period before closing the current period and open a minimum of two periods;
- Automatic deduction of TDS and Tax on pre-defined percentages, generate tax returns and automate the TDS return process;
- Option to automatically reverse all provisions in the next period;
- View foreign currency transactions in foreign currency and carry forward of balances for balance sheet accounts during a year-end closing;
- Create Vendor master record along with functionality to capture various mandatory details such as ID, TAN, Bank Details, BRN, and VAT details, amongst others;
- Ability of the system to generate ageing analysis for outstanding invoices;
- Generate credit/ debit notes to customers and Interest Calculation based on different credit criteria;
- System should support the functionality of maintaining credit limits in terms of periods and value and to stop processing of invoices in case of overdues;
- To create Cash/ Bank transactions and perform automatic bank reconciliation;
- To maintain petty cash transactions and schedule;
- Provide different types of transactions; Loans, Cash Credit, Overdraft, Fund Based Limits, Non-Fund-Based Limits (LCs, Bank Guarantees, amongst others);
- Generate consolidated reports on various investments and tracking of overall exposure;
- In-built Budget Preparation & Control and to maintain budget centres;
- Ability of the system to generate a comprehensive asset register;
- Hardware proposed for the implementation of accounting software; and
Bidders are invited to submit their proposal for an accounting software to the MIC as described above along with the documents listed in Annex 1.
Mode of Application
Proposals should be deposited in sealed envelope marked ‘ACQUISTION OF ACCOUNTING SOFTWARE’ at the Registered Office of the Mauritius Investment Corporation Ltd, Level 3 Bank of Mauritius, Old Building, Sir William Newton Street, Port Louis, at latest by 25 February 2022. Proposals received after the closing date and time shall be rejected.
Requests for clarification or any additional information can be addressed to email@example.com by 15 February 2022. Responses thereof will be posted on MIC website (www.mic-ltd.mu) by 17 February 2022.
MIC reserves the right to accept or reject all proposals, without incurring any liability towards any Bidder or any obligation to inform any Bidder of the grounds for its decisions. The MIC also reserves the right to cancel this exercise.
08 February 2022.
- Company Profile
- Copies of relevant licenses (E.g. BRN, Certificate of Incorporation, VAT certificate, if applicable)
- Profiles of professionals involved in the development of the software (qualifications and accreditations, years of experience and reference of similar projects)
- Balance Sheet and Profit and Loss statements and supporting documents of the Bidder for the past 3 financial years (Certificate from Chartered Accountant or external auditor for financial solvency)
- The Bidder should not be involved in any legal case that may affect its solvency or existence or in any other way affect their capability to provide support (Self-declaration signed by Company Secretary or Board approval designating Signatory).