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New software to track municipal finances

Posted July 29, 2014

Diamond Municipal Solutions has been awarded a $310,111, including maintenace fees to upgrade New Tecumseth's financial information system.

The contract includes "consultant services for the supply, delivery, installation, configurations, software licenses, annual support, maintenance,  data conversion, project management and associated training for a financial and revenue management software solution."

Being replaced is the UNIX-based financial software system, which is several years old.

"While the software continues to function relatively well and is supported by the supplier, product enhancements ceased a number of years ago," according to the staff report recommending the RFP award. "Changes to municipal accounting, including tangible capital asset recording, and asset management plan implications cannot be accommodated within the current system. In order to improve efficiency and to accommodate future needs of Finance as well as other Town departments, it was recognized by Staff that a new Windows-based software system is required."

It's expected to take more than four months to implement.

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