TCS partners with Odisha govt to design, implement third-gen integrated financial management system

TCS has been working with the Odisha government since 2005, beginning with the integrated Odisha treasury management system. This collaboration led to the implementation of IFMS, followed by IFMS 2.0, now culminating the third generation of the solution — IFMS 3.0 launch.

As part of the programme, TCS said it will also implement its AI Workbench, an open-source solution designed to support AI/machine learning (ML) projects in designated operational areas, including model development, monitoring and retraining.
TCS said this enables IFMS 3.0 to apply analytics and machine learning to decision-making and operational processes, with features such as multilingual chatbot interactions to enhance user experience.The assistant is developed to address FAQs, automate service desk procedures and carry out functional tasks, aiding IFMS users, TCS added.

The company said that in addition to its core functionalities supporting the finance department’s needs in budgeting, expenditure management and accounts management, IFMS 3.0 also incorporates advanced functional and non-functional enhancements aimed at streamlining financial processes, enhancing data protection and enabling real-time monitoring and reporting.

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

TCS shares were trading 1.4% lower at ₹3,052.8 apiece around 10.55 am on Friday. The stock has declined 25.8% this year, so far.

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