The Finance Department of a South Carolina agency is seeking a cloud-based SaaS solution for managing lease and subscription tracking. This system must provide accurate, centralized, and real-time insight into all debt, lease, and subscription obligations to ensure compliance with agency standards and reduce audit preparation time by at least 50%.

Technical requirements for the SaaS platform include comprehensive support for government-wide and fund-based accounting, as well as both lessee and lessor roles and multiple fund classifications. The system should be capable of calculating right-of-use assets and lease liabilities for lessee accounting and lease receivables and deferred inflows for lessor accounting. In addition, it must maintain a robust audit trail, manage complex amortization schedules, address variable payment scenarios such as free rent periods and lease incentives, and generate journal entries in Excel format for all lease lifecycle events.

Compatibility with all major web browsers, support for mobile devices via apps on Apple iOS and Android, and functionality on Windows and Mac operating systems are required. The initial contract term will be one year.