TCS to Develop AI-Powered Financial System for Odisha Govt

Tata Consultancy Services (TCS) has been selected by the Odisha government to design and implement Integrated Financial Management System (IFMS) 3.0, an AI-enabled, cloud-native platform to modernise the state’s public finance management.

The new system will automate Odisha’s finance workflows using microservices-based architecture and integrate TCS’s AI Workbench (AIWB), which supports AI/ML projects across development, monitoring, and retraining.

Features will include AI-driven analytics, multilingual chatbot support, and automated service desk functions to improve efficiency and user experience.

Key features of IFMS 3.0 include a user-friendly interface for easier navigation, real-time integration of financial data across departments, advanced reporting and analytics tools, stronger security protocols to ensure compliance, and mobile accessibility that enables users to manage financial operations on the go.

TCS has partnered with Odisha since 2005, beginning with the state’s Treasury Management System, followed by IFMS and IFMS 2.0. This third-generation upgrade aims to provide real-time visibility, enhance data accuracy, and streamline processes across budgeting, expenditure, revenue, and accounts management.

“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.

“With AI-assisted insights and intuitive workflows, IFMS 3.0 will allow officials to monitor programs in real time, accelerate reporting, and make confident, data-driven decisions,” Tej Paul Bhatla, VP, public services, TCS said.

This initiative is part of TCS’s broader role in India’s digital transformation. For nearly six decades, TCS has been a technology partner to government programs, helping digitise services such as passport issuance, defence pensions, health insurance, and public financial systems. Nearly seven out of ten Indians use TCS-supported services daily.