MANAGEMENT INFORMATION SYSTEM (MIS)
MANAGEMENT INFORMATION SYSTEM (MIS)
In order to review the performance of the business there is a system of reviewing various
performance summaries which gives indication about the performance and if the same is not as per
the standard the reasons for the same are identified and an ACTION PLAN with TIMELINES is
made for bringing it as per the plan.
1 .Key Performance Indicators ( KPIs) : Every business has some operating parameters which are
unique to the industry in which it operates and these along with other common financial and non
financial parameters are known as KPIs . The standards for the same are generally benchmarked to
have a target .
Example In case of Airline Industry there are some Industry Specific indicators
Financial
a ) Passenger Load Factor
b) Revenue Per Available Seat
c ) Fuel Cost to Net Revenue Cost
Safety
- Fatality
- Reportable Dangerous Occurrence
- Reportable Occupational Illness / Disease
2. Daily Reports on Production , Invoicing etc
3. Debtors Ageing < Creditors Ageing , Cash Flow
4. Monthly Performance Report : The purpose of budgeting and this reporting is to analyze the
company's performance on a regular basis , understand the business division wise revenue analysis
and the costs both direct and overheads.
The Monthly Performance Report should generally have following components
1. P& L account for the month with comparatives with Budget and variances
2. Reasons for variances and plan for mitigation
3. P& L account up to the month with comparatives with Budget and variances
2. Reasons for variances and plan for mitigation
3. Business Division wise Revenue Analysis
4. Update on Special Initiatives / Projects
5. Manpower - Budgets Vs Actuals
6. Sales Performance
7. Operations
8. Other Departments Performance
The formats and number reporting are STANDARIZED so that there is similar pattern for reviewing
.
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