CODA Dream Finance System Maintenance and Support Services Contract

Descriptions

Advert for CODA Dream Maintenance and Support ContractHigher Education Funding Council for Wales (HEFCW) T02HE/2011/12The Higher Education Funding Council for Wales (HEFCW) is sponsored by the Welsh Government and acts as an intermediary body between the Welsh Government and the higher education sector in Wales. We are responsible for funding higher education (HE) in Wales and we distribute funds for education, research and related activities to higher education institutions (HEIs) in Wales with a current budget of £385m per annum. We provide advice to the Welsh Government on the funding needs, aspirations and concerns of the higher education sector. Further information about HEFCW can be found on our website at www.hefcw.ac.uk. HEFCW implemented CODA Dream in June 2005 and since then it has been developed with Hexagon, its current consultants to meet ongoing business needs. As well as CODA Dream, HEFCW uses DreamView, Task Centre, Crystal Reports and Web Acumen to create an integrated system for its day to day processing and reporting requirements. The finance team processes approximately 2,000 documents for payment per year usually paid by BACS comprising of payments to suppliers and HEIs as well as payroll related payments. HEFCW uses an electronic form for grant payment to HEIs which are profiled over a period of time. These profiles are held within Dream but only transferred to purchase ledger when they become due for payment. HEFCW uses an automated purchase order system allowing ordering and authorising to be completed outside of the finance department through the use of WebAcumen. The authorisation process is integrated with budget and contract values. The reporting systems are used to produce regular monthly and/or quarterly management information and budget information on a cash as well as accruals basis. The system holds multiple annual budgets for financial (April to March) as well as academic (August to July) years.