Importance of MIS: Businesses worldwide make extensive use of Management Information Systems (MIS). MIS designed by the top management of an organization is a tool for assembling and accumulating facts and figures about all the important business processes. The information so collected is tabulated and presented in the form of meaningful reports. The MIS particularly aims a controlling the technologies, work force and the policies, procedures and practices of the business.
MIS aids the organization in effective and efficient decision making. The organizational data, like information on the processes, standard operating procedures and audit preparation methodology, are all tabulated and presented in the forms of reports. Also the internal controls for each department that list the flow of work between employees, the authority-responsibility relationships, all are listed by the MIS.
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