Provision of a Search and Discovery (Insight Engine) Solution

Modification Notice

Original description: The Financial Conduct Authority is modifying the award value for the contract for the provision of a search and discovery (insight engine) solution. The contract is delivering a search and discovery capability to the FCA.

The contract covers the following element, details are:

1. Provision of the software;
2. Implementation of the base functionality in the FCA cloud;
3. Assistance with configuration to meet full FCA requirements;
4. Provide integration to the FCA's Enterprise Data Platform;
5. Transition to support and service model as defined in the requirements.

The initial 3 year term of the contract is being modified from £1,320,186.00 ex VAT to £1,950,022.67 ex VAT.

There are two, three year extension options. Each additional 3 term is estimated to be £897,840 ex VAT but will be subject to an inflationary uplift if extension option is utilised.

Description of the modifications

An increase in to cost of implementation of £623,490 ex VAT and an increase of £16,666.67 ex VAT in software licences to deal with capacity constraints. The delay in implementation led to a saving of £10,320 ex VAT in support charges. The total value of all modifications to date is £6290,836.67 ex VAT. The new contract value for the initial 3 year term is £1,950.022.67 ex VAT.

Description of the economic or technical reasons and the inconvenience or duplication of cost preventing a change of contractor:

Successive Covid lockdowns resulted in resourcing issues during implementation, alongside the delivery team finding unexpected issues during the data ingestion phase.