Management Accounting Information System

A management accounting information system can help businesses run better by providing timely information on internal operations. Managers need to have specific data on certain processes to control costs and to make sound decisions. Each company and industry has particular requirements. Retail management needs will be different from those of a distribution or a service-type business. One management system rarely fits all the needs of all firms.

Supply Chain Optimization

List your needs. Put in writing your requirements and what you need an information system to do for you. That could be capturing certain information and reporting in a specific way and format. Prioritize your needs--what is crucial and what would be nice to have, but you can live without. Important needs of management are usually budgeting, cost accounting and specific variance analysis.

Step 2

Search for computerized solutions that meet your needs at about 90 percent. The other 10 percent can be customized. You can usually find close matches when you consider systems that are designed for your industry. If you are a retail business, you may be able to find a point-of-sale system with all required back-office support software by focusing on computer systems specialized for retail firms and not wasting time with manufacturing solutions. Be focused in your search, otherwise you will end up confused and exhausted.

Step 3

Consider your budget. Mind your pocketbook. Accounting management information systems can be very expensive to purchase and maintain. Be sure you can afford the system that you need. You may have to scale back your expectations.

Step 4

Detail a plan to implement a new management system. The plan should have a time line and be reasonable. Usually firms underestimate the time required to install and employ a new system. Don't forget to add training time for users to learn how to use all functions of a system.

Step 5

Check in with employees and management. Be sure people are using and following the management system. To establish a new system, management and executives need to be completely behind the system. You need to have full commitment to make it work and to give you meaningful information.

Step 6

Utilize the system to its best advantage. Ask for reports and other status on the system to be sure the management system is being employed with all its functionality.