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Mangement Information System(MIS)

Management Informmation System(MIS)

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.

Financial MIS

Financial MIS

Provides financial information to all Financial Managers in the Organization Provides reports with fixed and standard formats – Hard and soft copy reports Strategic Plan or Corporate Policies – Contains major financial objectives and often projects financial needs

Accounting MIS

Accounting MIS

Provide aggregated information on

  • Accounts Payable
  • Accounts Receivable
  • Payroll

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:

  • Financials
  • Inventory
  • Personnel
  • Project timelines
  • Manufacturing
  • Real estate
  • Marketing
  • Raw materials
  • R&D

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