TCS will also deploy its AI Workbench (AIWB), a digital solution designed to transform the way IFMS users and management interact with financial data and processes
Press release
MUMBAI, September 05, 2025 : Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in 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 microservices-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 program, 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, Senior Vice President and Head Government Business, India, 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 include:
- 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.
As India advances into a new era powered by artificial intelligence and a strong digital infrastructure, TCS is dedicated to accelerating the nation’s digital journey. For nearly six decades, TCS has played a pivotal role in driving India’s tech revolution, executing several nation-building programs, creating digital public infrastructure, transforming citizen services, and touching millions of lives. TCS works with several government ministries as a trusted partner. Nearly 7 out of 10 Indians benefit from TCS-supported services every day. From digitally enabling India’s leading stock exchanges, working with major financial institutions, to enhancing passport issuance systems, health insurance, pensions for defence personnel, and more, TCS delivers high-touch citizen-centric service to the last mile.
At a glance
ABOUT TATA CONSULTANCY SERVICES (TCS)
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide. Since its inception in 1968, TCS has upheld the highest standards of innovation, engineering excellence and customer service.
Rooted in the heritage of the Tata Group, TCS is focused on creating long term value for its clients, its investors, its employees, and the community at large. With a highly skilled workforce of over 600,000 employees in 55 countries and 202 service delivery centres across the world, the company has been recognized as a top employer in six continents. With the ability to rapidly apply and scale new technologies, the company has built long term partnerships with its clients – helping them emerge as perpetually adaptive enterprises. Many of these relationships have endured into decades and navigated every technology cycle, from mainframes in the 1970s to Artificial Intelligence today.
TCS sponsors 14 of the world’s most prestigious marathons and endurance events, including the TCS New York City Marathon, TCS London Marathon and TCS Sydney Marathon with a focus on promoting health, sustainability, and community empowerment. TCS generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024. For more information, visit www.tcs.com.
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