MIS when properly developed and used in an organization brings in a lot of benefits for the organization. A list of the benefits of MIS for a organization are:
MIS increases productivity
- MIS reduces time, errors and costs associated with processing information.
- To increase productivity, MIS follows Online Transaction Processing (OL TP). OLTP is the gathering of data as input, processing that input data and updating the data to create valuable information from this processed data.
- Another area in which modern MIS improves productivity is by allowing customers to process their own transactions through the use of a Customer-Integrated System (CIS).
MIS enhances the quality of decision-making
- MIS helps top management to do business in a better way, find solutions to problems/opportunities, or help them in decision-making by providing the relevant information.
- MIS support for decision-making falls in two categories:
- When MIS helps you analyze a situation by providing all the relevant information about the situation and then expecting you to make the decision.
- When MIS actually makes some sort of recommendation or giving some insight into what decision to take.
MIS improves communication and helps develop team work
- MIS helps to manage information and facilitates communication between diverse teams.
- A collaborative management information system is a specific system to improve team work.
- One aspect of EDI is Electronic Funds Transfer (EFT) which allows for payment without physically sending money.
MIS can facilitate organizational transformation
- MIS helps organizations to remain competitive or enter new markets and transform the way business is done.
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