TCS to implement Odisha Government’s AI-enabled financial management system

Tata Consultancy Services (TCS) has been selected by the Government of Odisha to design and implement the third version of the Integrated Financial Management System (IFMS 3.0). The new platform will use artificial intelligence, machine learning, and cloud-native technologies to automate and streamline the state’s financial processes.

TCS has been working with the state since 2005, beginning with the Odisha Treasury Management System, followed by IFMS 1.0 and 2.0. The launch of IFMS 3.0 marks the next phase of this partnership.

The upgraded system will support key functions such as budgeting, expenditure, revenue, and accounts management. It will also integrate TCS’s AI Workbench, a platform designed to support the development, monitoring, and retraining of AI and machine learning models. This will enable IFMS 3.0 to apply data analytics to improve decision-making and daily operations.

Features of the new system include real-time financial data integration across departments, advanced reporting tools, a more intuitive user interface, stronger data security measures, and mobile access. The system also introduces a multilingual chatbot to respond to user queries, automate service desk tasks, and provide functional support to government staff.

According to TCS, the new system will unify budgeting, payments, receipts, and accounts into a single platform, allowing officials to monitor financial programs in real time and generate reports more quickly. This integration is expected to provide a single source of accurate data for the government.

Girish Ramachandran, President, Growth Markets and Public Services, TCS, said, “With real-time financial visibility, enhanced precision, and a future-ready architecture, this platform will empower Odisha to deliver more effective public services to its citizens.”