Management Informmation System(MIS)
A management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces regular reports on operations for every level of management in a company. It is usually also possible to obtain special reports from the system easily.
Provide aggregated information on
- Accounts Payable
- Accounts Receivable
Structure Of MIS
Components of MIS
The major components of a typical management information system are:
- People – people who use the information system
- Data – the data that the information system records
- Business Procedures – procedures put in place on how to record, store and analyze data
- Hardware – these include servers, workstations, networking equipment, printers, etc.
- Software – these are programs used to handle the data. These include programs such as spreadsheet programs, database software, etc.
Purpose Of MIS
The purpose of an MIS is improved decision-making, by providing up-to-date, accurate data on a variety of organizational assets, including:
- Project timelines
- Real estate
- Raw materials