The benefits of using a Financial Information System are:
- Rapid Decision Making: The Financial Information systems enable you to make quick and rapid decisions as it provides accurate, verified and consistent information.
- Better Planning: The system gives you a realistic and accurate view of your overall financial situation. This enables the company to make predictions, forecast and plan accordingly.
- Efficiency: With validations and security features of FIS there is no need to re validate and confirm the facts multiple times before making a final entry. It also provides historical information. It helps improve efficiency by minimizing efforts.
- Collaboration/Integration: FIS provides a platform or a base to integrate all the various business processes, functional processes and financial information of your company. This leads to better accessibility and improves performance.
- Numbers to action/ Reporting: FIS enables better analytics and reporting of financial information than traditional financial systems. They aggregate all the information together and has high scalability.
Reference: http://smallbusiness.chron.com/benefits-financial-management-information-system-71943.html