TCS to manage Odisha govt's AI-enabled integrated financial system

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Tata Consultancy Services (TCS) has partnered with the Odisha government to design and implement Integrated Financial Management System (IFMS) 3.0.

The company has been working with the state government since 2005, beginning with the integrated Odisha Treasury Management System. This collaboration progressed through the implementation of IFMS, followed by IFMS 2.0, culminating in the launch of IFMS 3.0 the third generation of the solution, TCS said in a statement.

As part of this programme, TCS will also implement its AI Workbench, an open-source solution designed to support AI/ML projects in designated operational areas, including model development, monitoring, and retraining, it 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.

"We are proud to deepen our collaboration with the Odisha government. IFMS 3.0 combines advanced technology and user-centric design to deliver smarter governance. 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," Girish Ramachandran, President, Growth Markets and Public Services, TCS, said.

In addition to its core functionalities supporting the Finance department's needs in budgeting, expenditure management, revenue management, and accounts management, IFMS 3.0 incorporates advanced functional and non-functional enhancements aimed at streamlining financial processes, enhancing data precision, and enabling real-time monitoring and reporting.

TCS Public Service senior vice president Tej Paul Bhatla said that this new system unifies budgeting, payments, receipts, and accounts into a single source of truth. With AI-assisted insights and intuitive workflows, IFMS 3.0 will allow officials to monitor programmes in real time, accelerate reporting, and make confident, data-driven decisions.