What users are saying about

Abila MIP Fund Accounting

Top Rated
601 Ratings

Vena Solutions

21 Ratings

Abila MIP Fund Accounting

Top Rated
601 Ratings
Score 7.9 out of 101

Vena Solutions

21 Ratings
Score 8.9 out of 101

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Likelihood to Recommend

Abila MIP Fund Accounting

Because I work in the FQHC world, I would recommend this product specifically for any business or end user within that field. This product allows people in this field to comply with federal reporting requirements, makes it easier to track grants, and allows for the slicing and dicing of financial statements in many ways which is important in this field. This product is good for most day to day accounting functions and is pretty robust as well for an FQHC. This product is probably less appropriate for large healthcare systems where you want to keep track of statistics which this product cannot currently do.
Erich Koch profile photo

Vena Solutions

Vena has use across several business scenarios. We originally started with some basic planning solution to meet our needs and have significantly expanded the scope of our use of the tool into more sophisticated planning and forecasting and into consolidation based on the experience we've had with the tool. We are considering expanding the use of the tool as we see its ability expand beyond what we are currently using it for.
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Feature Rating Comparison

Payroll Management

Abila MIP Fund Accounting
8.0
Vena Solutions
Pay calculation
Abila MIP Fund Accounting
8.6
Vena Solutions
Benefit plan administration
Abila MIP Fund Accounting
8.1
Vena Solutions
Direct deposit files
Abila MIP Fund Accounting
8.7
Vena Solutions
Salary revision and increment management
Abila MIP Fund Accounting
7.3
Vena Solutions
Reimbursement management
Abila MIP Fund Accounting
7.3
Vena Solutions

Customization

Abila MIP Fund Accounting
7.4
Vena Solutions
API for custom integration
Abila MIP Fund Accounting
7.4
Vena Solutions
Plug-ins
Abila MIP Fund Accounting
7.3
Vena Solutions

Security

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

Reporting & Analytics

Abila MIP Fund Accounting
7.4
Vena Solutions
Dashboards
Abila MIP Fund Accounting
6.5
Vena Solutions
Standard reports
Abila MIP Fund Accounting
7.8
Vena Solutions
Custom reports
Abila MIP Fund Accounting
7.9
Vena Solutions

General Ledger and Configurable Accounting

Abila MIP Fund Accounting
7.5
Vena Solutions
Accounts payable
Abila MIP Fund Accounting
8.5
Vena Solutions
Accounts receivable
Abila MIP Fund Accounting
8.1
Vena Solutions
Cash management
Abila MIP Fund Accounting
8.0
Vena Solutions
Bank reconciliation
Abila MIP Fund Accounting
8.4
Vena Solutions
Expense management
Abila MIP Fund Accounting
8.0
Vena Solutions
Time tracking
Abila MIP Fund Accounting
7.1
Vena Solutions
Fixed asset management
Abila MIP Fund Accounting
7.6
Vena Solutions
Multi-currency support
Abila MIP Fund Accounting
6.2
Vena Solutions
Multi-division support
Abila MIP Fund Accounting
8.1
Vena Solutions
Regulations compliance
Abila MIP Fund Accounting
7.9
Vena Solutions
Electronic tax filing
Abila MIP Fund Accounting
7.6
Vena Solutions
Self-service portal
Abila MIP Fund Accounting
5.6
Vena Solutions
Standardized Processes
Abila MIP Fund Accounting
6.6
Vena Solutions

Inventory Management

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

Order Management

Abila MIP Fund Accounting
4.7
Vena Solutions
Pricing
Abila MIP Fund Accounting
6.7
Vena Solutions
Order entry
Abila MIP Fund Accounting
6.8
Vena Solutions
Credit card processing
Abila MIP Fund Accounting
2.5
Vena Solutions
Cost of goods sold
Abila MIP Fund Accounting
2.7
Vena Solutions

Accounting Firm BPO Features

Abila MIP Fund Accounting
7.0
Vena Solutions
Client data roll-up capabilities
Abila MIP Fund Accounting
7.8
Vena Solutions
Configurable alerts
Abila MIP Fund Accounting
7.1
Vena Solutions
Billing bypass
Abila MIP Fund Accounting
6.5
Vena Solutions
Client template cloning
Abila MIP Fund Accounting
7.6
Vena Solutions
Single sign-on
Abila MIP Fund Accounting
4.5
Vena Solutions
Industry-specific versioning
Abila MIP Fund Accounting
8.3
Vena Solutions
Legacy system data migration
Abila MIP Fund Accounting
7.0
Vena Solutions

Budgeting, Planning, and Forecasting

Abila MIP Fund Accounting
Vena Solutions
8.6
Long-term financial planning
Abila MIP Fund Accounting
Vena Solutions
8.6
Financial budgeting
Abila MIP Fund Accounting
Vena Solutions
8.8
Forecasting
Abila MIP Fund Accounting
Vena Solutions
8.4
Scenario modeling
Abila MIP Fund Accounting
Vena Solutions
8.5
Management reporting
Abila MIP Fund Accounting
Vena Solutions
8.7

Consolidation and Close

Abila MIP Fund Accounting
Vena Solutions
8.6
Financial data consolidation
Abila MIP Fund Accounting
Vena Solutions
8.8
Journal entries and reports
Abila MIP Fund Accounting
Vena Solutions
8.3
Multi-currency management
Abila MIP Fund Accounting
Vena Solutions
8.5
Intercompany Eliminations
Abila MIP Fund Accounting
Vena Solutions
8.6
Minority Ownership
Abila MIP Fund Accounting
Vena Solutions
9.1
Local and consolidated reporting
Abila MIP Fund Accounting
Vena Solutions
8.8
Detailed Audit Trails
Abila MIP Fund Accounting
Vena Solutions
8.3

FInancial Reporting and Compliance

Abila MIP Fund Accounting
Vena Solutions
8.6
Financial Statement Reporting
Abila MIP Fund Accounting
Vena Solutions
8.8
Management Reporting
Abila MIP Fund Accounting
Vena Solutions
8.3
Excel-based Reporting
Abila MIP Fund Accounting
Vena Solutions
8.8
Automated board and financial reporting
Abila MIP Fund Accounting
Vena Solutions
8.7

Analytics

Abila MIP Fund Accounting
Vena Solutions
8.9
Personalized dashboards
Abila MIP Fund Accounting
Vena Solutions
8.5
Color-coded scorecards
Abila MIP Fund Accounting
Vena Solutions
8.7
KPIs
Abila MIP Fund Accounting
Vena Solutions
9.1
Cost and profitability analysis
Abila MIP Fund Accounting
Vena Solutions
8.8
Key Performance Indicator setting
Abila MIP Fund Accounting
Vena Solutions
9.1
Benchmarking with external data
Abila MIP Fund Accounting
Vena Solutions
9.1

Integration

Abila MIP Fund Accounting
Vena Solutions
8.2
Flat file integration
Abila MIP Fund Accounting
Vena Solutions
8.2
Excel data integration
Abila MIP Fund Accounting
Vena Solutions
8.4
Direct links to 3rd-party data sources
Abila MIP Fund Accounting
Vena Solutions
8.1

Pros

  • Departmental financial reporting
  • Historical reporting
  • Cross fiscal year reporting
  • Transaction detail
Robert Bowsza profile photo
  • Easy integration with Excel. The tool looks familiar as it looks similar to Excel.
  • Great customer support from Vena support team.
  • It has all the advantages of Excel without the limitations of Excel like the audit trail, version control etc.
  • Audit trail feature helps in identifying the source of updates on the data.
  • Efficient aggregation and consolidation tool. The volume of data we handle could not be handled by Excel efficiently. Vena solved the problem.
No photo available

Cons

  • I wish it was a little simpler to reverse a single invoice during the AP void check process.
  • In the payroll system improved reporting, being able to pull information from both the employee profile and the payroll system would be appreciated.
  • The ability to hide discontinued vendors from selection lists. As well as some way to improve vendor id conventions.
LaShawna Simonsen profile photo
  • Like any tool, it takes some time to use the advanced features in the tool. It took me some time to master the report building from scratch.
  • People who know Excel love this product. People who are not familiar with Excel find it difficult.
  • The user experience can be improved. The tool can be made more intuitive.
No photo available

Likelihood to Renew

Abila MIP Fund Accounting8.8
Based on 35 answers
We are so used to this software there is no chance of us starting with a new software and re-learning every step.we are content with the software at this moment and feel there is no need to look for a new accounting software
Luis Godoy profile photo
Vena Solutions9.1
Based on 1 answer
We have been extremely satisfied with the Vena Solutions product and have been able to become more efficient in our budgeting, forecasting and salary planning processes, as well as adding functionality and accuracy that was not possible in the past. Administrators no longer have to keep track manually of each department's budgeted net, but can use a report created in Vena to report this information, as well as see which departments have not yet submitted information. Customer service has always been very responsive as well
Lori Lambert profile photo

Usability

Abila MIP Fund Accounting8.6
Based on 33 answers
The menu driven software is really user friendly. This makes training new staff the software run smoothly. Creating reports for board presentations, to do monthly reporting to funders and ease in transferring files to Excel are great
Shirley Merrick profile photo
Vena Solutions9.1
Based on 1 answer
One is only limited by their knowledge of Excel functions and basic understanding of database management. One does not need to know VBA, VB, C++ or even SQL.
Megan Bladen-Blinkoff profile photo

Reliability and Availability

Abila MIP Fund Accounting8.9
Based on 6 answers
I refer back to the previous questions. It has suddenly quit on me.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

Support

Abila MIP Fund Accounting8.4
Based on 30 answers
We have been financially challenged in the last few years and we have always renewed our support contract, even if it was a financial stretch. The fact that Abilia has been flexible in their renewal accommodation has been greatly appreciated. Every single time we have needed help, it has been effective and efficiently delivered. The service team has worked well with our all skill levels of our staff and I have only heard positive outcomes in our 15 years. Never a bad outcome. I would say this an achievement Abila should be very proud of.
Carol Dougherty profile photo
Vena Solutions8.2
Based on 1 answer
Customer support has been very prompt for both bug fixes and data loading. Enhancement requests have taken a bit longer to implement, but are within what we would consider a normal time frame compared to other software we use. I rarely have to wait long for an issue to be resolved
Lori Lambert 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 Accounting9.9
Based on 3 answers
Personalized training provided for our organization
karen hoffman profile photo
No score
No answers yet
No answers on this topic

Implementation

Abila MIP Fund Accounting6.9
Based on 19 answers
MUST have a good partner to guide you through the set up steps. A seasoned organization is imperative. They can help navigate issues because they have dealt with them before.
Jan Crockett profile photo
Vena Solutions9.1
Based on 1 answer
The Vena consultant had great knowledge of both the Vena solution and Excel and Excel functions. He was able to help suggest ways to build our templates that met our requirements using Excel functions we had not previously considered using. And we have been able to use the Excel information he provided in other ways outside of Vena. He was very patient and flexible as we learned the Vena tool and created templates
Lori Lambert profile photo

Alternatives Considered

I was not part of the selection for MIP and don't have anything to compare.
Bianca Jurczak profile photo
We spent about a year and a half in the selection process for our budgeting system. The issue that we kept coming across was speed, flexibility, and a lack of understanding of our process during the sales cycle. Most of these other products wanted us to change our budgeting process to fit their system rather than solving for our individual needs. Vena Solutions’ sales team had worked with other products (many of those listed above) before making the switch to Vena and as such were able to explain the differences and understand the frustrations with the other products. During implementation, our consultant understood our rather complicated processes and calculations easily. This product is extremely flexible and very easy to use and we can't wait to see where it takes us!
Carrie Self, CPA profile photo

Scalability

Abila MIP Fund Accounting8.9
Based on 6 answers
I have had some issues with the software suddenly closing with no reason given.
Christine Frenzel profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • It is positive when I can create reports that are easily utilized month after month for grant reporting. Each of our grants requires a little different format of data and MIP allows me to customize reports to easily pull information I need to satisfy grantors.
LaShawna Simonsen profile photo
  • Faster financial reporting - Previously, consolidated reporting took place only annually or quarterly, with a significant time requirement. Now we perform a monthly consolidation within a few weeks of each month end.
  • Cost efficient cost reports - We do a biweekly cost report on each production which previously took someone a full day to perform and is now largely done automatically, freeing up time for our staff to do other work.
George Taylor 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

Vena Solutions

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Required
$0*
1.  per user
Additional Pricing Details