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Abila MIP Fund Accounting

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Top Rated
603 Ratings

Prophix

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Top Rated
119 Ratings

Abila MIP Fund Accounting

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Top Rated
603 Ratings
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Score 7.9 out of 101

Prophix

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Top Rated
119 Ratings
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Score 8.9 out of 101

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Likelihood to Recommend

Abila MIP Fund Accounting

With Abila MIP's versatility I think it would be well suited for any industry, but especially for any industry where you wanted to be very specific on tracking or cost accounting. The ability to segment your accounts allows you to track by just about any method you would like to be successful.
Eric Harvey profile photo

Prophix

Most of these comments deal with the limitations of OLAP (Prophix) databases as compared to SQL (Oracle/SAP) databases. OLAP does a great job in driving management to prioritize those metrics and data they need to run and measure their business. This education leads to a much better understanding of the data being provided. A transaction level database is better suited to detailed analysis, but management (in my experience) does a poor job at trying to manage individual transactions instead of understanding what the aggregated numbers are saying. Also, management can not plan at a highly detailed level because the business is moving too fast. That is where Prophix (OLAP) allows management to create a plan at the right level of detail which can be reported and managed.More well suited:
  • Multiple scenario reporting
  • Excel template generation
  • Finance ownership and management - takes some training but well worth the flexibility
  • Finance, Sales, Operations
Less well suited:
  • Highly detailed reporting outside of Detailed Planning Manager
  • Direct Excel - SSAS data retrieval
  • HR employee management
  • Transaction level detail analysis
Andreas Loeffler profile photo

Feature Rating Comparison

Payroll Management

Abila MIP Fund Accounting
7.6
Prophix
Pay calculation
Abila MIP Fund Accounting
8.8
Prophix
Benefit plan administration
Abila MIP Fund Accounting
7.0
Prophix
Direct deposit files
Abila MIP Fund Accounting
8.7
Prophix
Salary revision and increment management
Abila MIP Fund Accounting
7.0
Prophix
Reimbursement management
Abila MIP Fund Accounting
6.4
Prophix

Customization

Abila MIP Fund Accounting
7.6
Prophix
API for custom integration
Abila MIP Fund Accounting
7.6
Prophix
Plug-ins
Abila MIP Fund Accounting
7.6
Prophix

Security

Abila MIP Fund Accounting
8.4
Prophix
Single sign-on capability
Abila MIP Fund Accounting
8.3
Prophix
Role-based user permissions
Abila MIP Fund Accounting
8.4
Prophix

Reporting & Analytics

Abila MIP Fund Accounting
7.3
Prophix
Dashboards
Abila MIP Fund Accounting
6.3
Prophix
Standard reports
Abila MIP Fund Accounting
7.7
Prophix
Custom reports
Abila MIP Fund Accounting
7.9
Prophix

General Ledger and Configurable Accounting

Abila MIP Fund Accounting
7.6
Prophix
Accounts payable
Abila MIP Fund Accounting
8.4
Prophix
Accounts receivable
Abila MIP Fund Accounting
8.1
Prophix
Cash management
Abila MIP Fund Accounting
7.9
Prophix
Bank reconciliation
Abila MIP Fund Accounting
8.4
Prophix
Expense management
Abila MIP Fund Accounting
8.0
Prophix
Time tracking
Abila MIP Fund Accounting
6.8
Prophix
Fixed asset management
Abila MIP Fund Accounting
7.6
Prophix
Multi-currency support
Abila MIP Fund Accounting
6.6
Prophix
Multi-division support
Abila MIP Fund Accounting
8.2
Prophix
Regulations compliance
Abila MIP Fund Accounting
8.1
Prophix
Electronic tax filing
Abila MIP Fund Accounting
7.6
Prophix
Self-service portal
Abila MIP Fund Accounting
6.0
Prophix
Standardized Processes
Abila MIP Fund Accounting
6.9
Prophix

Inventory Management

Abila MIP Fund Accounting
4.2
Prophix
Inventory tracking
Abila MIP Fund Accounting
7.3
Prophix
Automatic reordering
Abila MIP Fund Accounting
1.0
Prophix
Location management
Abila MIP Fund Accounting
7.7
Prophix
Manufacturing module
Abila MIP Fund Accounting
1.0
Prophix

Order Management

Abila MIP Fund Accounting
4.7
Prophix
Pricing
Abila MIP Fund Accounting
6.5
Prophix
Order entry
Abila MIP Fund Accounting
6.9
Prophix
Credit card processing
Abila MIP Fund Accounting
2.5
Prophix
Cost of goods sold
Abila MIP Fund Accounting
2.7
Prophix

Accounting Firm BPO Features

Abila MIP Fund Accounting
7.0
Prophix
Client data roll-up capabilities
Abila MIP Fund Accounting
7.8
Prophix
Configurable alerts
Abila MIP Fund Accounting
7.4
Prophix
Billing bypass
Abila MIP Fund Accounting
6.8
Prophix
Client template cloning
Abila MIP Fund Accounting
7.5
Prophix
Single sign-on
Abila MIP Fund Accounting
4.5
Prophix
Industry-specific versioning
Abila MIP Fund Accounting
8.0
Prophix
Legacy system data migration
Abila MIP Fund Accounting
7.1
Prophix

Budgeting, Planning, and Forecasting

Abila MIP Fund Accounting
Prophix
7.9
Long-term financial planning
Abila MIP Fund Accounting
Prophix
7.8
Financial budgeting
Abila MIP Fund Accounting
Prophix
8.5
Forecasting
Abila MIP Fund Accounting
Prophix
7.9
Scenario modeling
Abila MIP Fund Accounting
Prophix
7.4
Management reporting
Abila MIP Fund Accounting
Prophix
8.1

Consolidation and Close

Abila MIP Fund Accounting
Prophix
8.1
Financial data consolidation
Abila MIP Fund Accounting
Prophix
8.3
Journal entries and reports
Abila MIP Fund Accounting
Prophix
7.6
Multi-currency management
Abila MIP Fund Accounting
Prophix
8.4
Intercompany Eliminations
Abila MIP Fund Accounting
Prophix
8.3
Minority Ownership
Abila MIP Fund Accounting
Prophix
8.4
Local and consolidated reporting
Abila MIP Fund Accounting
Prophix
8.4
Detailed Audit Trails
Abila MIP Fund Accounting
Prophix
7.2

FInancial Reporting and Compliance

Abila MIP Fund Accounting
Prophix
7.8
Financial Statement Reporting
Abila MIP Fund Accounting
Prophix
8.4
Management Reporting
Abila MIP Fund Accounting
Prophix
8.2
Excel-based Reporting
Abila MIP Fund Accounting
Prophix
7.9
Automated board and financial reporting
Abila MIP Fund Accounting
Prophix
7.7
XBRL support for regulatory filing
Abila MIP Fund Accounting
Prophix
6.7

Analytics

Abila MIP Fund Accounting
Prophix
7.7
Personalized dashboards
Abila MIP Fund Accounting
Prophix
7.3
Color-coded scorecards
Abila MIP Fund Accounting
Prophix
7.4
KPIs
Abila MIP Fund Accounting
Prophix
7.7
Cost and profitability analysis
Abila MIP Fund Accounting
Prophix
7.8
Key Performance Indicator setting
Abila MIP Fund Accounting
Prophix
7.8
Benchmarking with external data
Abila MIP Fund Accounting
Prophix
8.2

Integration

Abila MIP Fund Accounting
Prophix
8.2
Flat file integration
Abila MIP Fund Accounting
Prophix
8.4
Excel data integration
Abila MIP Fund Accounting
Prophix
8.2
Direct links to 3rd-party data sources
Abila MIP Fund Accounting
Prophix
8.0

Pros

  • It allows you to create folders in which you can scan invoices, business associate contracts, and contracts in general by vendor. This allows us to keep everything in one place digitally. The good thing about this is that it speeds up finding old invoices, and allows you to send audit selections to the auditor faster due to the items selected already being scanned in digitally.
  • MIP allows for the creation of distribution codes. These are nice as they allow you to charge out common costs to multiple departments in a quick manner. Without this feature, one has to key in manually many line items into the system each and every month. Plus this feature allows for consistency, and elimination of keying errors.
  • If you have the Chart of Accounts set up properly, this system allows you to better track items by departments, Revenue/Fund codes, Location, and by GL. This is important as it allows for better analysis, tracking and reporting.
  • As for the budgeting module, this is also nice as you have the ability to upload your budget via a CSV file or you can manually cut and paste your numbers from excel into the system as well. The key thing though is setting up your budget template to match the format in MIP when cutting and pasting.
Erich Koch profile photo
  • Regular automated reporting - Easy to set up and schedule the processes needed to load, combine, and calculate data for reports, and then distribute the reports according to flexible schedules
  • Easy to set up the data uploads from various sources, then automate the uploads - Prophix can read .txt, .csv, and Excel formats, set up mapping to correct or consolidate overly detailed (or wrong) source data. (Most systems do this; Prophix is just much easier than most others.)
  • Clean interface to manage data models - Again, all CPM systems do this, but the Model Manager in Prophix makes this easy. If it is easy, then it is more likely we will make real-time changes in the structures to keep up with the business changes, making our reporting more relevant and timely.
  • Generation of Excel based planning and reporting templates. Everyone still like to work in Excel, and this is just real easy in Prophix.
Andreas Loeffler profile photo

Cons

  • They need to better explain how to create definition files so end users can learn how to upload large amounts of data into the system. As of right now, most end users have to contact a consultant to create the definition file and pay literally thousands of dollars in order to do uploads.
  • The financial statement reports could be better. When I created the income statement, the profit is shown as a credit, while a loss is shown as a debit which makes it look funny for presentation purposes. I now have to key everything into Excel so it doesn't do this. The reports could be better if it allowed a way to add statistics to the report. Most FQHCs present stats like visits, Days Cash on Hand and so on. It would be nice to be able to have these stats shown in the financial statements.
  • MIP needs to allow for easier copying and pasting items into the fields. In the Budget module, you can't right click and paste. You need to select the "Edit" and then paste from the drop down menu.
Erich Koch profile photo
  • The only minor tweak in the software I would like to see is to have the ability to have multiple Ad-Hoc windows available.
  • The front-end could be updated from a visual standpoint to be more appealing but it has all the functionality needed to make it a slick tool.
Brandon Russell profile photo

Likelihood to Renew

Abila MIP Fund Accounting9.0
Based on 38 answers
I am not the decision-maker, but it would be my recommendation at this point.
Christine Frenzel profile photo
Prophix10.0
Based on 16 answers
I believe we will continue services with Prophix because they always focus on improving the current system. They have great ideas and if you are fortunate enough to attend the user conferences, the workshops definitely help you to expand the use of Prophix. They have great ideas which can help improve the productivity within your organization.
Michael Pasquinelli profile photo

Usability

Abila MIP Fund Accounting8.7
Based on 34 answers
If you are not an accountant, it would be very difficult to use. As an accountant there are aspects that are so specific that if you do not understand how they work and hand off to other parts of the software, you can really mess up your reporting.
Christine Frenzel profile photo
Prophix8.4
Based on 13 answers
Prophix is necessarily complex because it is a very flexible tool that can be used to solve just about any data analysis or reporting need. There is always a disconnect between the initial presentation of a software product and actual implementation and use. Be sure to allocate the necessary investment in time and money for consulting help and user training.
William Van Hulzen profile photo

Reliability and Availability

Abila MIP Fund Accounting9.0
Based on 6 answers
I refer back to the previous questions. It has suddenly quit on me.
Christine Frenzel profile photo
Prophix8.5
Based on 6 answers
We rarely encounter application errors or outages
Rob Strothkamp profile photo

Performance

Abila MIP Fund Accounting9.9
Based on 6 answers
Yes, it works very well about 95% of the time. I don't notice any slow down with any programs it integrates with.
Christine Frenzel profile photo
Prophix7.7
Based on 6 answers
Prophix continues to improve upon the performance of its product with reports and processes running more efficiently with all new releases.
Joel P. Goldstein profile photo

Support

Abila MIP Fund Accounting8.6
Based on 32 answers
Every time we have needed support we had the issue resolved within an hour.
Bianca Jurczak profile photo
Prophix8.0
Based on 58 answers
Availability of outstanding consultants and excellent support from the prophix help desk and other contacts within prophix has been top notch. They are an excellent company to work with and genuinely care about their clients.
William Van Hulzen profile photo

In-Person Training

Abila MIP Fund Accounting8.0
Based on 6 answers
There are no specifics on what happens if you make one choice or another to know which is the best selection. This is true for JVs and AP. In training we were not given specifics of what happens when one possibility is selected over another.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

Online Training

Abila MIP Fund Accounting10.0
Based on 3 answers
Personalized training provided for our organization
karen hoffman profile photo
Prophix7.3
Based on 2 answers
Online training not company specific
Rob Strothkamp profile photo

Implementation

Abila MIP Fund Accounting6.8
Based on 19 answers
I would not implement without the help of a reseller.
Nikki Patterson profile photo
Prophix8.8
Based on 8 answers
Implementation was very succesful
Rob Strothkamp profile photo

Alternatives Considered

Fund EZ is a product I found out about from a previous employment stint. It has a lot of the features MIP has but is not nearly as good. I would consider using this product if MIP continues to raise fees.
Erich Koch profile photo
The main reasons of why we selected Prophix are cost, value, ease of use, speed of implementation to take this into production, and demonstration of the product to us. We covered all the competitors out there in terms of reviewing on-site or conference call - Host Analytics, Adaptive Insights, Oracle, Cognos Express, and a few others. The cost was almost double for the other competitors. The value was demonstrated through how the end user would be trained in using Prophix from the consultant (knowledge transfer), how the system would be used, speed, what the output was in terms of system design, and how this would be used across our SBU structure. What stood out with Prophix is how they listened and delivered in there solution to us how they could meet our business needs. From this point to implementation, they have gone above and beyond to make sure we were ready for our go live date.
Brandon Russell profile photo

Scalability

Abila MIP Fund Accounting9.0
Based on 6 answers
I have had some issues with the software suddenly closing with no reason given.
Christine Frenzel profile photo
Prophix8.0
Based on 4 answers
We are a medium sized company, but the structure of Prophix would seemingly adapt to whatever sized organization you have. It also can be applied in any area of an enterprise that needs performance management, whether it involves financial data or not. The potential for application within the enterprise is really only limited by you imagination.
Kevin Warnick profile photo

Return on Investment

  • Abila has streamlined and allowed more tasks to be automated maximizing the efficiency of staff so more staff is not needed.
  • The Maintenance and Support annual fee is a bit expensive and not a very good return especially for the amount of features that are updated from year to year. I don't use support a lot since our systems are pretty efficient so hence I don't think the annual M&S is justifiable.
  • Abila's importing feature allows integration to many different systems which makes Abila very flexible allowing costs to be saved if the owner of the Abila system switches between vendors.
Donavan Lam, CPA profile photo
  • Cost. In comparing this to Adaptive, Oracle, Host Analytics - this product really stands out from a cost standpoint in being much cheaper and the value (based on features and knowledge transfer from the consultant) pays out over time.
  • Employee productivity. The software definitely solved load time issues and made our reporting process much smoother. We have more time for analytics and spending a lot less time on data validation.
Brandon Russell profile photo

Pricing Details

Abila MIP Fund Accounting

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Abila MIP Fund Accounting More Information

Prophix

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
Additional Pricing Details

Prophix More Information