Governments worldwide are gradually realizing the importance of fiscal transparency and improving speed and efficiency of treasury applications. TCS DigiGOV Finance is a centralized web based IT solution that helps governments to achieve better public finance accountability with better interfacing with its other stakeholders like other governments, banks and external agencies. It also directly reaches out to citizens of the country with cyber treasury portals. It has a number of benefits, which include reduced cost, time and resources, better management, and tracking of resources and citizen financial convenience services.
The IFMS software that TCS develops was based on a project approach. The software used to be developed custom to the requirements mentioned in the Request for Proposal. There are currently 8 implementations of TCS DigiGOV Finance in the country the more recent ones being Maharashtra, Gujarat and Punjab while Karnataka and Bihar will be rolled out soon.
VISION FOR THE FUTURE
The DigiGOV team has taken its first steps towards making a comprehensive yet customizable offering for governments at a global level, for which I prepared a master feature list – an exhaustive list of features obtained by studying all current and pat implementations analyzing best practices in the industry and international market requirements.
The project and each of the deliverables were incremental in nature. The initial step was to acquire complete understanding of the current system and understand the details of every feature. The next step was to analyze offerings of the competitors and try to develop a checklist of must-have features in the system. The next step being identification of markets in India and other developing countries and simultaneously incorporate the requirements of international markets like the accounting standards, language support and reporting standards specific to the res...