Cloud-based Lease and Subscription-Based Information Technology Arrangement Management System

The State of Maryland is seeking a cloud-based management system for leases and subscription-based information technology arrangements. The desired software will facilitate compliance with GASB 87 and GASB 96 by managing lease payment schedules, generating amortization schedules based on maximum non-cancelable terms, and calculating accurate net present value using the provided discount rate. It must also support the creation of necessary journal entries and disclosure reports once contract details such as lease terms, escalations, modifications, renewals, and terminations are entered.

Key system features should include advanced data search and filtering, bulk import and export capabilities with Excel and CSV formats, and robust version control incorporating date/time stamps and user attribution. The platform should offer OCR capabilities to handle scanned documents, secure role-based document sharing, and features to handle lease receivables, deferred inflows, and classification of reports by lease term length. Full browser compatibility is required, supporting Chrome, Firefox, Edge, and Safari. The initial contract term is one year.