Tata Consultancy Services (TCS), a global leader in IT services and consulting, has been selected by the Government of Odisha to design and implement the third generation of its Integrated Financial Management System (IFMS 3.0). This initiative marks a major leap forward in the state’s ongoing digital transformation journey.
IFMS 3.0 will be built on a modern, cloud-native, microservices-based architecture. The new system aims to fully automate public finance processes across Odisha’s departments, improving efficiency, transparency, and service delivery. This is the latest chapter in a long-standing partnership between TCS and the Odisha government, which began in 2005 with the development of the state’s Treasury Management System, followed by IFMS and IFMS 2.0.
As part of the IFMS 3.0 program, TCS will also deploy its AI Workbench — an open-source platform designed to support artificial intelligence and machine learning projects across key operational areas. This includes tools for model development, monitoring, retraining, and performance enhancement. The system will feature AI-driven capabilities such as analytics-powered decision-making and multilingual chatbots to improve user support and automate service desk functions.
Girish Ramachandran, President – Growth Markets and Public Services at TCS, said, “We are pleased to strengthen our collaboration with the Government of Odisha. IFMS 3.0 combines advanced technologies with a user-centric approach to bring smarter, more efficient governance. Real-time visibility, improved data accuracy, and a future-ready infrastructure will help deliver better public services across the state.”
The new platform will support critical financial functions such as budgeting, expenditure control, revenue tracking, and accounts management. It is designed to streamline workflows, reduce manual intervention, and enable real-time monitoring and reporting — ensuring greater accountability and data-driven decision-making.
Tej Paul Bhatla, Vice-President – Public Services, TCS, added, “This platform creates a unified financial ecosystem, bringing budgeting, payments, receipts, and accounting into one cohesive system. With intelligent insights and seamless integration, IFMS 3.0 will empower departments to track program outcomes in real time and make faster, more informed decisions.”
The new Integrated Financial Management System (IFMS 3.0) features a completely redesigned user interface, offering an intuitive and user-friendly experience. This modern interface simplifies navigation and enhances usability, making it easier for government officials and department users to perform complex financial tasks efficiently.
One of the core strengths of IFMS 3.0 is its ability to synchronize data in real time across multiple departments. This seamless integration ensures that financial information is instantly updated and available, enabling faster, more accurate decision-making. It supports a unified flow of information, reducing delays and improving coordination across government functions.
Advanced reporting capabilities have also been built into the platform, providing powerful tools for data analytics and performance tracking. These features promote transparency and accountability, giving stakeholders detailed insights into financial activities, budget utilization, and program outcomes.
Security remains a top priority in IFMS 3.0, with enhanced protocols in place to safeguard sensitive financial data and ensure compliance with regulatory standards. Additionally, the system offers mobile accessibility, allowing users to manage financial transactions and monitor key operations remotely, ensuring flexibility and continuity in public finance management.
This development reflects Odisha’s continued commitment to leveraging technology for better governance. With IFMS 3.0, the state is setting new benchmarks in the digital management of public finances.
For over five decades, TCS has played a critical role in India’s digital transformation. From powering stock exchanges and strengthening citizen services to delivering infrastructure for healthcare, pensions, and digital identity, TCS has been a trusted technology partner for governments and institutions. Today, nearly 70% of India’s population benefits from systems supported by TCS — reaching citizens in both urban and rural communities.
