From News Desk
Tata Consultancy Services, a provider of IT services, consulting and business solutions, has partnered with the Government of Odisha to design and implement Integrated Financial Management System (IFMS) 3.0. Leveraging advanced Cloud-native technologies, this micro-services-based architecture will automate the state’s comprehensive public finance workflows, representing a key advancement in Odisha’s digital transformation roadmap.
TCS has been working with the Government of Odisha 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. 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. 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.
Girish Ramachandran, President, Growth Markets and Public Services, TCS said, “We are proud to deepen our collaboration with the Government of Odisha. 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.”
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. This upgrade reflects the Odisha Government’s ongoing commitment to utilizing technology for improved governance and more effective public service delivery.
Tej Paul Bhatla, Vice-President, Public Services, TCS said, “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 programs in real time, accelerate reporting and make confident, data-driven decisions.”
Key Features of IFMS 3.0
- Enhanced User Interface A more intuitive and user-friendly interface that simplifies navigation and improves user experience.
- Real-Time Data Integration Seamless integration of financial data across various departments, enabling real-time updates and monitoring.
- Advanced Reporting Tools Comprehensive reporting tools that provide detailed insights and analytics, aiding in informed decision-making.
- Improved Security Measures Robust security protocols to safeguard financial data and ensure compliance with regulatory standards.
- Mobile Accessibility Access to IFMS 3.0 via mobile devices, allowing users to manage financial operations on the go.
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