ACCA PM Syllabus A. Management Information Systems and Data Analytics - Information Systems Role - Notes ^{1 / 7}

An information system is more than a computerised application.

Information Technology (IT) is widespread in modern information systems, and IT can support all levels of management.

Information systems provide the information required to assist management in the following areas:

• Planning: 

  Setting the organisation's long-term strategic direction and planning for the medium and short term.

• Control of the organisation: 

  Management needs to monitor how the organisation is performing against the plan and take actions to correct any significant deviations from the plan.

• Decision-making: 

  Managers need to make decisions at many different levels. The information systems should provide them with the information to do this.

Information systems can:

1. Improve processes within organisations

2. Improve processes with suppliers and customers.

3. Capture and generate the information that managers need for planning, control and decision-making purposes

4. Record transactions for evidence and other uses

5. Help make informed decisions

6. Help planning by showing available resources, possible timescales, predicting likely outcomes

7. Help Performance measurement eg. Budget v actual comparisons

Benefits of a good Information System

Basically it gives you a competitive advantage through....

• Easier access to Info

• Quicker spreading of info