TCS to build financial management system for IOM
Monday, 06 August 2007, 19:30 IST
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Hyderabad: Tata Consultancy Services (TCS), a leader in IT services, business solutions and outsourcing, Friday announced plans to build a new financial management system for a global migration issues agency that is closely linked with the United Nations. The company has signed a multi-million dollar deal with International Organization for Migration aimed at meeting the latter's resource management challenges. Headquartered in Geneva with 120 member-states, the IOM is an inter-governmental organisation that assists overseas workers, governments and other partners on global migration issues and on meeting the operational challenges of migration through practical solutions. In the multi-year engagement, TCS will implement a comprehensive system that will provide a global solution for a range of functions such as accounting, budgeting, donor relations, treasury, funds, grants management and donor reporting. The system will also provide a corporate financial tool connecting IOM's field missions across the world. N. Chandrasekharan, executive vice president and head, global sales and operations, TCS, told a news conference on the occasion that a 20 member TCS team would work on the project out of Hyderabad. He, however, declined to reveal the value of the deal. "TCS has a proven record for delivering highly customized solutions to global organizations. Devising and delivering a new global financial system for the International Organisation for Migration further validates our capabilities in this arena and will help IOM and its donors to experience certainty in financial reporting and management," he said. Brunson McKinley, IOM director general, said IOM has 341 locations worldwide and multiple donors. It is a challenge for IOM to have constant, up-to-date view of engaged funds on specific projects and to meet diverse donor reporting requirements. "We have a vast array of financial responsibilities towards our donors and other stakeholders. As such, a key priority is to ensure that our financial operations are running smoothly and efficiently and that we remain cost effective. We are confident that TCS's expertise and experience will help us realize this objective," said Brunson.
Source: IANS
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