Management Information Systems (MIS)
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For owner-managed businesses it is essential to have reliable and timely information to assist with management decisions, but this is rarely the case.
With short-term results and regulatory demands dominating the business agenda, long-term information systems (MIS) planning often falls well down the list of priorities.
Due to the general lack of good management information, managers tend to make decisions on an ad-hoc, instinctual basis rather than being based on hard facts. In addition, unreliability of monthly management information results in managers disregarding early warning signs of problems in identifying reductions in profit margins and liquidity, which obviously has detrimental consequences.
You can´t manage what you can´t measure.
A key part of the business planning process is to identify the business drivers, or those factors that drive your revenue and your major costs. Being in a situation where the business drivers are unknown and unmeasured, or ignoring major fluctuations between monthly results can indicate unreliable information and, if that is the case, the alarm bells should be sounding. It is critical that your management reporting system measures such drivers.
Why choose Haslers?
If you´re not completely confident that your MIS function is delivering to its full potential, or you have a backlog of pressing tactical issues, you will need objective help from Haslers Business Services Group to address the problem fast.
Our team can assist you by recommending that you start with a proper understanding of your business drivers. It is only from this that you can develop a meaningful business plan and forecast that you can measure against. Above all else make sure that you are measuring accurately and frequently the mission critical elements of your business.
We can advise you on the best way forward and create some real value in identifying your MIS needs to ensure that your business grows the way you intend it to.
For more information please contact our Business Services Group.
