Description
The State of Maryland is seeking market analysis information for a cloud-based Enterprise Resource Planning (ERP) system. The goal is to replace the State's legacy Financial Management Information System (FMIS) with a modern, integrated, and secure ERP solution. The proposed solution should support statewide standardization, least-privilege access, and segregation of duties. The State is looking for a solution that can accommodate multiple fund types, including Appropriated, GAAP, State, and Agency funds. The solution should also support budgeting, accounting, and reporting for various revenue streams, including fees, permits, and intergovernmental revenue. Key features of the proposed solution should include:
* Cloud-based ERP system
* Support for multiple fund types
* Budgeting, accounting, and reporting capabilities
* Integration with existing systems, such as Workday HR/Payroll and BARS
* Compliance with State cybersecurity requirements and FedRAMP, SOC 2, and IRS Pub 1075 controls
* Support for data analytics and business intelligence
* Ability to provide public-facing transparency dashboards
* Support for a phased implementation approach
Some of the key questions the State is looking to answer through this RFI include:
* What are the best practices for implementing a cloud-based ERP system?
* What are the key features and functionalities of a modern ERP system?
* How can the State ensure seamless integration with existing systems?
* What are the cybersecurity and data residency requirements for the proposed solution?
* How can the State ensure compliance with regulatory requirements, such as GAAP and GASB?
The State is seeking responses from vendors who can provide information on their proposed solutions, including their experience with similar implementations, their approach to integration and implementation, and their ability to meet the State's requirements.