Odisha govt selects TCS to build AI-powered integrated financial management system

Tata Consultancy Services on Friday said it has been selected by the Odisha government to design and implement an AI-enabled Integrated Financial Management System (IFMS).

The IFMS 3.0 will automate the state's comprehensive public finance workflows, marking a key advancement in Odisha's digital transformation roadmap, a release said, but did not divulge the size of the contract.

''TCS has partnered with the Government of Odisha to design and implement Integrated Financial Management System (IFMS) 3.0,'' as per the release.

TCS has been working with the Odisha government since 2005, beginning with the integrated Odisha Treasury Management System.

The collaboration progressed through three generations of IFMS solution, the implementation of IFMS, followed by IFMS 2.0, culminating in the launch of IFMS 3.0.

''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,'' the release said.

This enables the systems to apply analytics and machine learning to decision-making and operational processes, with features such as multi-lingual 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 at TCS, said that with real-time financial visibility, enhanced precision, and a future-ready architecture, this platform will empower Odisha to deliver more effective public services.

Tej Paul Bhatla, Senior Vice President and Head Government Business, India at 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 programmes in real time, accelerate reporting, and make confident, data-driven decisions.''