STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: September 25, 2019
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
Title
Authorize a three-year cooperative subscription agreement for licensing for an auditing, governance, risk, and compliance software solution for the Department of Communication and Information Services with ACL Service Ltd. through the Department of Information Resources cooperative agreement - Not to exceed $300,000 - Financing: Data Services Funds (subject to annual appropriations)
Body
BACKGROUND
This cooperative subscription agreement provides licensing for an auditing, governance, risk, and compliance software solution for the Department of Communication and Information Services. This software allows for a data driven approach to audit, risk, compliance, and financial controls monitoring. The software provides data integration across identified City enterprise systems, enabling process automation and advanced analytics. This system will also provide the City with the ability to monitor and maintain risk and compliance efforts as required under current regulations. In addition, this technology will allow the City Controller's Office to quickly identify fraudulent financial activities and necessary audit controls information.
Strategically the software solution offers:
* Strategy to aligned with and supports the City's fiscal and compliance missions
* Operations to improve efficiency, monitoring, and resource utilization
* Financial improve reliability of operational and financial reporting
* Compliance validation of and documentation of compliance with applicable laws and regulations
The software allows security, auditors, risk management, and financial leaders to understand and communicate the City's full information technology risk posture through common functions. Suc...
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