Critical Analysis of Management Information System of Selected Indian Microfinance Institutions

Abstract

Management Information System (MIS) lays a strong foundation on which any institution dealing with finance as a department relies on. Expansion of business, serving their existing client base, adding new customers to their family and to generate an aura of competition amongst the market are some of the key reasons firms across globe are using MIS systems. Microfinance sector needs MIS for gearing up economic stability, increasing performances and manage flow of funds because a high outflow of funds might fluctuate the economics of loan disbursement. This research paper focuses on the current structure of MIS systems in Micro finance sector and research on the existing scenario of competition with respect to various vendors offering similar services. The findings of the research indicate that currently there is diversity in the services and packages offered by vendors and there is a need to build up common software for all the microfinance institutions to bring in uniformity.