Management Information Systems
Most of the companies are performing their critical business activities like Sales Planning, Financial Planning, Budgeting & Expense reporting manually. All the users or team would manually create, develop, distributes dozens of excel spreadsheets to hundreds of organizational departments, where thousands of users would complete spreadsheets and email it back to the concerned department.
After that, the department would collect these excel spreadsheets from thousands of users to consolidate received spreadsheets which took months to generate different types of management information reports like profit & loss reports, cash flow statements, inventory reports, sales reports, monthly projection reports, and other decision-making reports.
In some of the organizations, business users are manually performing the currency conversions with respective to each country and process of converting currencies in regard to their budgeted and actual exchange rate on a weekly and monthly basis. It is a time-consuming process, leads to human errors, breakages of emails, links, missing data and conversion of formula.
Companies are facing issues with version controls like adjusting the change in template formats and in distribution and collection of thousands of excel spreadsheets via email. It creates a lot of confusion for users to analyze and understand the test scenarios across the locations, region-wise and country-wise, which can be good and worst case scenarios.
The top management has no insight view into each user activities, the status of overall processes without exchanging of emails calls with respective users which delay the process to have relevant information for their supportive decision activities defined in their organizational, operational and functional goals.
After complex calculations and algorithms, consolidation of budgets at end of the process is unbalanced and out of date, again these spreadsheets would have to be re-distributed and re-collected via emails and this painful process took serval months to complete entire cycle.
- A single excel kind of web interface is created for all the users, automatically consolidated data in a matter of seconds.
- Robust workflow enables management to assign tasks and deadlines to specific users and view their status in real time.
- Increased the efficiency of the budgeting, planning, reporting, forecasting process made easier, standardized process and reduced the possibility of human errors.
- Full control of data with secure access to specific users to restrict major information based on column and cell wise.
- Automatic currency conversions save hours of work in a complete day, reduced the manual collection of data by integrating with any third party or existing systems.
- Connected templates are pre-populated with relevant information, integrating the client’s G/L accounts.
- Able to reduce their reporting cycle from 4 – 6 weeks at month-end and now closing them on the same day.
Sample View of MIS Solution
Login Screen Appearance:
Login Page with username and password as shown in below figure.
User Login Page Appearance:
Once the user has logged in, the screen shows the main menu’s & sub menus to initiate the work.
Web-based excel interface is created like an excel to regain the feel with secure access and easy to use.
- You can just copy and paste the bulk amount of data in your excel spreadsheet.
- You can import or upload the excel sheet which contains a large volume of data.
- You can see the above options like Non-Editable, Editable, Mandatory and Error to enter the specific values into the cell.
- Restriction can be given based on the user’s level for columns, rows & cells.
Comparison between Budget Vs Actual Vs Variance :