- 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. The main purpose of the MIS is to give managers feedback about their own performance; top management can monitor the company as a whole.
- Information displayed by the MIS typically shows “actual” data over against “planned” results and results from a year before; thus it measures progress against goals.
- The MIS receives data from company units and functions. Some of the data are collected automatically from computer-linked check-out counters; others are keyed in at periodic intervals.
- Routine reports are preprogrammed and run at intervals or on demand while others are obtained using built-in query languages; display functions built into the system are used by managers to check on status at desk-side computers connected to the MIS by networks.
- Many sophisticated systems also monitor and display the performance of the company’s stock.
- We will help to build up and implement the system through which financial information will be recorded easily and MIS can be generated to keep the track of the business on almost realtime basis.