What is management information system? How to build a working MIS? MIS importance for small companies.
What is Management Information System (MIS)?
By definition we could say that MIS is the computerized collective data of the financial information. The MIS produces regular reports on operations for every level of management in a company. This system gives managers feedback about their own performance and top management can monitor the company as a whole.
MIS is the information that shows the actual data over the planned results and helps you find out your progress towards the goal you’ve set. The data that must be stored in your MIS is the company’s units (employees) and their function and productivity. Employee monitoring software helps you gather automatically data from computer in periodic intervals. This way it build your MIS, with progress activity time log. Progress data as we said can help you measure your position and how far are you from your target.
So the gathered pc screenshots from employees’ computers are used by managers to check on status of these workers connected with the time management app. This simplified system also monitors and displays the performance of the company’s workers, giving out their productivity level.
The employee monitoring log gives the owner the opportunity to monitor his business at all levels. Keeping such database increases the potential of successful project completion and quality produce.
In order to build a working MIS, you must connect all your computers with a monitoring system which gathers actual data and stores it in accessible to the appropriate levels database. Therefore you will be able to regularly inspect your business and make important decisions regarding your company’s status.
How to build working MIS?
Keeping a working MIS betters time management techniques and work process is likely to be impeccable. Connecting people, process and technology will benefit in profit and growth for your business.
Business process management, as an important part of your MIS is the combination of these actions:
- Strategize: Constructing a strategy for your business is the root that will help you grow.
- Design: Design a model of your strategy, which you can follow.
- Implement: Apply your strategy following the steps you set.
- Monitor and control: It is needless to say you must monitor employees and subordinates in order for your strategy to work.
- Execute: To finalize all steps you must make sure your plan will be executed properly, so that the target you set can be reached.
Why is MIS important for small businesses?
You can not expect your company to grow if you are not regularly attending to it. Building a MIS will help you discover all the company’s weak spots and target reachable goals. This way you will not lose time over ineffective projects and plans. In spite of all issues you will be able to build better time management to support your idea. Employees are the spine of your business, so employee tracking is vital if you want your profit to grow and your business to flourish.