[What is the role of MIS]

Management Information System

MIS is an information system used in organisations for decisionmaking, control, analysis, and visualisation of data. MIS tools are used to manage and transport data. They are the foundation of the information management field and are frequently regarded as the original information era systems. MIS creates data-driven reports that assist organizations in making the best choices at the appropriate times. MIS is the process of recording, storing, and processing data to provide information that decision-makers may use to make daily decisions. It involves the use of information technology, people, and business processes. In this modern era of rising technology, management information systems have become indispensable to the effective operation of a business

Decision Making

MIS gives managers precise and timely information. Decisions require this kind of knowledge.

Key Performance Indicators

KPI Assessment with a Variety of Data Sources.

Control

Better control over business data.

Multi-Period Comparison

Compare data from various time periods using multi-period comparisons.

Analysis & Visualization

Fast analysis and consolidated visualization of business information.

Better Accounting

It emphasizes extremely quick reporting of accounting data.

MIS Reports

A MIS report, in the simplest terms, a system that offers crucial information for the management of your firm. Within an organization, MIS collaborates with people, technology, and business processes. It also describes how your company’s relationships with other organizations and individuals effect its operations. MIS report is used in day-to-day business activities, allowing you to track the success of your organization. These reports give essential information for decision-making. It acts as a point of reference for monitoring your business and communication. Any business owner who is serious about enhancing the performance of their enterprise needs a MIS reporting. Data from a management information system can be used to spot underperforming areas and capitalize on trends and patterns. Management may be left in the dark if they do not have a reliable MIS system. A management information system will assist your firm achieve a greater degree of efficiency, enable you to make more logical business decisions, enhance communication among employees, and capitalize on your organization’s strengths.

[How do]

MIS Reports Function

MIS reports are used to collect data from various sources which includes employees, management, documents, executives as well as the raw numbers for business sales. All of these are beneficial for identifying and solving problems within your company by taking right decisions on right time. MIS report helps to track a company’s financial growth and financial health. It is often used to track, analyze, and report business income and expenses. An MIS report also serves as an effective tool for communication between employees and their employers, or between employees.
[Decision Making]

Right Decision at the Right Time

MIS reports is prepared periodically by various departments in your organization and presented to the company’s top management. MIS reports focus on raw data, trends and comparisons with relevant data from the past. Managers can also use MIS reports to keep track of how business is done in different departments. Also, they make things clearer and make communication better. They also help the managers of the company and the management team make smart decisions, find and avoid problems, and take advantage of market trends.

Types of MIS Reports in Odoo

There are different types of MIS reports in every company. These reports range from company to company. Management Information system reports process data in its raw form. This raw data is generated by the people, business processes, and transactions that are collided to create understandable data points. Different types of MIS reports aggregate different data points and present them in a format that provides clear insights. The various departments in an organization present MIS report which outline their department’s specific functions. There can be different types of MIS reports based on which data is being analyzed and what it is being used for.

accounting_bl
[odoo Accounting app]

Financial Reports

Financial reports are types of MIS reports that can be used to analyze the financial condition of an organization. A financial report often includes a company’s Balance sheet, Profit & Loss statement and Cash flow statement. Financial reports are used by your company’s financial analysts, investors, the board of directors, and even government units to access the overall financial health of your organization. These reports are used in making critical financial decisions within a company. In addition to the above stated generic financial statements, ODOO provides an Executive Summary report which allows you to take a quick look at all the important figures you need to run your company, such as cash, profitability, payables and receivables, and statistics on the credit period

[odoo Consolidation of Accounts]

Consolidated Reports

For organizations with more than one firm and for global corporations, consolidation is a crucial procedure. Consolation is necessary for an organization’s financial statement to be full. By using the exchange rate method you select on each consolidated account, Odoo Consolidation enables you to construct your own consolidated accounting reports to combine the accounting entries of many consolidated firms.

Budget Analysis Reports

Organizations operate on a variety of budgets. These may include project budgets, marketing budget, production budget etc. Odoo Budget analysis contains the real time information of your Planned v/s Real budget of your organization. It is essential to maintain your company’s financial health while driving growth.

Invoice Analysis Reports

Dynamic reports are provided by Odoo to analyze your sales invoice Reports. From this report, you can have an overview of the amount invoiced to your customers. The search tool can also be used to personalize your Invoices reports and so, match this analysis to your needs.

Fixed Asset Reports

Reports on fixed assets are an important part of managing assets. They give the information that is needed to keep accurate financial records that can be used for asset accounting, maintenance, and management. Depreciation Schedule reports can be generated from Odoo.

Aged Receivable & Payable

An AR and AP ageing report segregates the past due date invoices and bills in date ranges (like 30, 60, 90, 120 days) from the day the invoice/bills was issued. Tracking your AR/AP ageing report regularly (weekly or monthly) will help you identify concerns before the situation escalates to cash-flow problems.

General Ledger, Trial Balance & Journal Reports

Financial & Accounting activities of your business are monitored from
the grass root level by using these reports.

Tax Reports

Tax report provides the information of the entity’s income earned with the amount of tax payable to the government, government organizations, or to taxpayers. Odoo tax reports which is the part of accounting module, includes all the values, to be reported to the tax authorities, along with the amount you have to pay or be refunded.

Sales Reports

The dynamic reporting feature of Odoo performs analysis on your quotations and sales orders. Analysis checks your sales revenues and sort it by different group criteria (salesman, partner, product, etc.) If you want to analyse your turnover, you should use the Invoice Analysis report in the Accounting application. The sales report is prepared by the marketing and sales division of your organization. The sales data is often visualized by taking into account the targeted and actual sales numbers. Sales Commission reports could be generated if the organization has such policy.

Forecasted Sales Reports

In the absence of sales forecast, a business enterprise may work without any focus and this may result in wastage of its resources. With the Machine Learning algorithms in Odoo ERP, it is now easy to analyze the historical data of your business and determine the trajectory of your upcoming sales as per the data collected. Sales forecast helps to manage your business processes systematically and forecasts the availability and sales of your products as per the demands and cuts down the unnecessary expenditure. With the Sales Forecast report, organization’s can analyze the sales trends and predict the sales considering seasonal factors like winter, summer product sale, etc.

Inventory Reports

Inventory reports are a type of MIS report that is used to manage and keep a track of all the products in your warehouses. The inventory report includes details about the products left in stock, the best selling products, the top-selling categories of products, slow moving products, Inventory ageing reports, stock expiry reports, stock trends and forecast reports. Inventory reports can help your business to make smarter, data-driven decisions.

Purchase Reports

The dynamic report management area of the purchase management module allows you to create different analytical and graphical reports with different metrics. All the complex tools and methods you need to examine product trends, market demands, and even your company’s expenses are included in the Odoo Purchase module. Purchase analysis reports can be generated under various Measures which can be viewed under the Measures tab Which are Of Lines, Average Cost, Days to Confirm, Days to Receive, Gross Weight, Order, Qty Billed, Qty Ordered, Qty Received, Qty to be Billed, Total, Untaxed Total, Volume and Count. In addition, the Grouping functionalities available in the window allows you to generate Purchase reports based upon various default as well as customizable groups. Grouping and comparison feature is provided in the dynamic reporting of purchase module.

Manufacturing Reports

Manufacturing or Production report contains information about the manufacturing orders. It can be grouped and filtered by the way you wanted to analyze. Production analysis reports can be generated in Odoo, the graphical analysis of the production will be displayed along with the statistical analysis. You can apply different measures such as the Component Cost / Unit, Duration of Operations, Quantity Produced, Total Component Cost, Total Cost, Total Duration of Operations and Total Operation Cost. The report can be compared with the previous period or year’s analysis.

Overall Equipment Effectiveness Reports

OEE Reports in Odoo Manufacturing module allows you to generate reports which will give you an overall insight about the effectiveness of the equipment used in the manufacturing process.. The graphical representation can be viewed in Bar chart, Line chart and Pie chart. By evaluating the report you can have the details of the total productive time of the equipment, material availability and also equipment failure. The results can be filtered into Availability Losses, Performance Losses, Quality Losses, Fully Productive and with Dates. With the Group By option, you can view the report on the basis of User, Work center and Loss Reason.

HR Reports

Human Resource report is a way to analyze all your human resources related metrics, statistics and numbers.. Human Resources Reports help to identify areas of improvement and understand different HR functions like employee performance, retention, hiring strategies etc. Odoo provides all the aspects of Human Resource Management reports which includes Recruitment analysis reports, Leave reports, Attendance reports, Employee performance reports, Payroll reports, Loan reports and multiple department reports of your organization.

Project Reports

Odoo has an effective Project report management system in conjunction with the Odoo Project Module to manage the demand for an effective project review and reporting system. Odoo’s project reporting is intended to assist businesses in analyzing the status of projects and work in progress. It will also assist users in reviewing the company’s overall performance, analyzing tasks, managing timesheets and analyzing planning. It can also assist the organization in generating reports on project costs and revenues.

On-Demand Reports

A specific request from the company’s senior management triggers the generation of the on-demand report, a sort of MIS report. An OnDemand report is not required to meet any particular standards or follow a particular format. The requirements of a company are included in this kind of MIS report, and the current situation will determine the contents of an on-demand report. Odoo may be customized to provide any form of report on demand.

Dashboard Reports

A dashboard’s primary purpose is to provide a complete overview of data from many sources. Dashboards are helpful for monitoring, measuring, and analyzing pertinent data in crucial areas. Immediate and accurate decisions can be taken by having a dashboard MIS reports to higher level management.