Challenge
Monitoring funds and budget planning has always been a challenge for the public sector. Manual preparation of budget plans across various schemes results in delays, inconsistencies and expenses. Organizations have no financial control over payments in the absence of real-time monitoring Also, the lack of a unified IT system across different government arms often leads to lack of transparency and duplication in effort. Departments are, therefore, on the lookout for a single fund and investment management solution that can dynamically add or remove government schemes and monitor the utilization of central and state funds.
TCS Solution
TCS’ DigiGOV Fund Management solution is directly integrated with PFMS to process funds for center-sponsored schemes and with banks for state-sponsored schemes. Its state-of-the-art budget management and planning features simplify budget allocation and approval with configurable workflows. Our highly configurable solution is integrated with PFMS for e-payments and Tally for financial accounting. Organizations can digitize payments with real-time and 100% payment reconciliation. It is based on Rapid Transformation Methodology and can be implemented within a short time frame.
Benefits
TCS DigiGOV Fund Management comes with the following benefits:
Fund Monitoring
Investment Protection
Rapid Implementation
Master Data Configuration
Budget Planning and Cascading
Fund Availability
Flexible Workflow
Digital Payments
Real-time Integration
Quick Onboarding
