Management Information System is an information system that evaluates, analyzes, and processes an organization’s data to produce meaningful and useful information based on which the management can take right decisions to ensure future growth of the organization. Thus, the importance of MIS. It helps in minimizing risk in decision making; it processes the data and derives information out of them. It provides information about the various aspects of business. It helps the executives to avail the information regarding the functional areas quickly. The database helps in inducting research. The data stored are used as secondary data. It provides sound information regarding the financial health of business organization and it helps in preparing corporate report. Functions of MIS includes files, hardware, software and operations research models of processing, storing, retrieving and transmitting information to the users.