TCS to build AI-enabled integrated Financial Management System 3.0 for Odisha

Tata Consultancy Services (TCS) has been selected by the Government of Odisha to design and implement the Integrated Financial Management System (IFMS) 3.0, a next-generation public finance platform. The new system, built on cloud-native microservices architecture, will automate the state’s budgeting, payments, receipts, and accounting processes, marking a major milestone in Odisha’s digital governance journey.

TCS has partnered with Odisha since 2005, beginning with the Treasury Management System and later building IFMS 1.0 and 2.0. With IFMS 3.0, the state moves into a new phase that integrates artificial intelligence, analytics, and mobile-first accessibility for financial operations.

AI-powered decision-making

A key highlight of the project is the deployment of TCS’s AI Workbench (AIWB). This open-source solution will help develop, monitor, and retrain AI/ML models in designated functional areas. The platform will use machine learning to provide decision support, automate routine workflows, and enable multilingual chatbot interactions to assist users with FAQs, service desk procedures, and functional tasks.

“IFMS 3.0 combines advanced technology and user-centric design to deliver smarter governance,” said Girish Ramachandran, President, Growth Markets and Public Services, TCS. “With real-time financial visibility, enhanced precision, and a future-ready architecture, Odisha will be empowered to deliver more effective public services.”

Key features of IFMS 3.0

• Intuitive design: A modern, user-friendly interface for simplified navigation.

• Real-time data integration: Unified financial records across departments.

• Advanced reporting tools: Rich analytics and dashboards for data-driven decisions.

• AI-assisted insights: Intelligent recommendations and faster reporting cycles.

• Mobile accessibility: Finance operations are available on smartphones.

• Enhanced security: Strong compliance-focused protocols to safeguard financial data.

“This new system unifies budgeting, payments, receipts, and accounts into a single source of truth,” added Tej Paul Bhatla, Vice-President, Public Services, TCS. “With AI-assisted insights and intuitive workflows, officials can monitor programs in real time, accelerate reporting, and make confident decisions.”

A long-standing digital partner

For nearly two decades, TCS has worked with Odisha to digitise treasury and finance operations. The latest rollout reinforces Odisha’s commitment to leveraging digital public infrastructure to enhance governance efficiency.

Beyond Odisha, TCS has played a central role in India’s national digital transformation journey, from passport services to pensions, insurance, and stock exchanges. Nearly 70% of India’s population engages with TCS-enabled platforms daily.