TO: AC Transit Board of Directors
FROM: Salvador Llamas, General Manager/Chief Executive Officer
SUBJECT: Single Source Contract Renewal with Prophix Software, Inc
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider authorizing the General Manager/Chief Executive Officer to execute a single-source contract with Prophix Software, Inc., to provide continued services and technical support for the District’s budget system for a term of three (3) years with two optional annual extensions.
Staff Contact:
Paul Kincaid, Interim Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Maintain Financial Stability and Resiliency for the District by continuing the facilitation of budget development, budget reporting, and budget analysis using Prophix.
BUDGETARY/FISCAL IMPACT:
Prophix Software, Inc. provides the District with secure Financial Planning & Analysis (FP&A) technology for compiling operating budgets, comprehensive and custom reporting capabilities, and PeopleSoft integration at a cost of $724,007 over the next three (3) years, from March 1, 2027 to February 28, 2030. Contract includes renewal option for the fourth and fifth years for $264,562 and $277,105, respectively. If options are exercised, the five (5) year contract will cost $1,265,674 and end February 28, 2032.
The current FP&A Classic contract with Prophix expires February 28, 2027. Staff recommendation, as discussed below, is to approve an upgrade from FP&A Classic to FP&A Plus. The proposal from Prophix will enhance the current FP&A setup to include query-based capabilities similar to common Artificial Intelligence (AI) tools. Additionally, the proposal includes a Cash Management module for use as soon as November of this year. The FP&A Plus proposal is offered for the same cost as maintaining the current FP&A Classic. Implementation is free of charge and woul...
Click here for full text