2026:Call for Proposal: Financial Expert to Develop an Integrated Financial System

Abjad Educational Initiative has announced a Call for Proposal (CFP) for a qualified financial expert or consulting firm to design and implement an integrated financial system. This initiative aims to strengthen the organization’s financial management by improving efficiency, transparency, and compliance with donor and regulatory requirements.

Currently operating with Excel-based financial tools, the organization seeks to transition to a more structured and professional accounting system. The selected consultant will play a critical role in building a practical, scalable, and easy-to-manage financial framework that supports project-based operations and reporting.

Project Objectives

The primary goal of this consultancy is to establish a robust and user-friendly financial system tailored to the needs of a growing nonprofit organization. Key objectives include:

• Developing a fully functional financial system that supports daily operations
• Strengthening financial governance through clear policies and procedures
• Designing a project- and donor-based Chart of Accounts
• Streamlining financial workflows for revenue and expense management
• Improving reporting accuracy and timeliness
• Implementing a practical multi-currency management approach

This project emphasizes simplicity and practicality, ensuring that the system is both effective and easy to maintain.

Scope of Work

The consultancy covers several phases, each designed to ensure a smooth transition from the current system to a fully operational financial structure.

1. Rapid Assessment of Current System

• Review the existing Excel-based financial system
• Map current workflows and processes
• Identify gaps, inefficiencies, and priority challenges

This assessment is expected to be concise and action-oriented, directly informing system design.

2. Financial Governance Development

• Develop a comprehensive financial policy
• Create an approval matrix for decision-making
• Establish internal controls to ensure accountability

3. Financial System Design

• Develop a detailed Chart of Accounts linked to projects and donors
• Design standardized financial templates and forms
• Define consistent financial recording procedures

4. Multi-Currency Management

• Establish clear processes for handling multiple currencies
• Define methods for calculating exchange rate differences
• Set a unified reporting currency for consistency

5. Accounting System Selection

• Assess operational and financial requirements
• Recommend simple and effective accounting solutions
• Provide a comparative analysis of system options
• Support the organization in selecting the most suitable system

Note: Complex ERP systems are not required; the focus is on practical and easy-to-implement tools.

6. System Implementation

• Configure and set up the selected accounting system
• Input initial financial data
• Conduct testing to ensure functionality

7. Reporting Development

• Design project-based financial reports
• Develop management reports to support decision-making

8. Training and Support

• Train staff on system usage
• Provide a user-friendly manual
• Offer technical support during the initial rollout phase

Expected Deliverables

The selected consultant or firm will be responsible for delivering:

• A brief assessment report
• Approved financial policies and governance framework
• Structured Chart of Accounts
• Fully operational accounting system
• Standardized templates and reporting tools
• Staff training and capacity building
• Final implementation report

These deliverables will ensure that the organization has a sustainable and scalable financial management system in place.

Duration and Timeline

The project is expected to be completed within two months, covering all phases from initial assessment to final implementation. Candidates must demonstrate the ability to deliver high-quality outputs within this timeframe.

Required Qualifications

Applicants should meet the following criteria:

• Proven experience in developing financial systems
• Prior work with nonprofit organizations
• Strong knowledge of financial governance and policies
• Practical expertise in accounting systems
• Ability to deliver results efficiently within tight deadlines

Both individual consultants and consulting firms are encouraged to apply.

Proposal Requirements

Technical Proposal

Applicants must submit a clear and concise technical proposal that includes:

• Understanding of the assignment
• Practical, implementation-focused methodology
• Work plan and timeline
• Recommended accounting system(s)

Financial Proposal

• Total project cost
• Detailed cost breakdown (if applicable)

Evaluation Criteria

Proposals will be evaluated based on the following:

• Technical proposal: 40%
• Relevant experience: 25%
• Methodology: 20%
• Cost: 15%

The organization will prioritize proposals that demonstrate practical solutions and a strong focus on implementation.

Application Process

Interested candidates must submit their proposals via the official procurement email: procurement@abjadinitiative.org.

Applicants should ensure that the tender reference ABJAD-EDU-FIN-008/2026 is clearly stated in the email subject line. Any inquiries regarding the CFP can be directed to the same email address.

The application deadline is 15 April 2026, and early submissions are encouraged to ensure consideration.

Conclusion

This consultancy offers an excellent opportunity for financial experts to support a growing nonprofit in building a sustainable and efficient financial system. By focusing on practical implementation, streamlined processes, and strong governance, the project aims to enhance transparency, accountability, and long-term organizational growth.

Professionals with the right expertise are encouraged to apply and contribute to strengthening financial systems within the nonprofit sector.

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