What users are saying about

Abila MIP Fund Accounting

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Top Rated
603 Ratings
22 Ratings

Abila MIP Fund Accounting

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Top Rated
603 Ratings
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Score 8 out of 101
22 Ratings
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Score 8.9 out of 101

Add comparison

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 Solutions is well suited for multi-faceted and complicated budgets. We love the fact that we can perform the same complex calculations required for our budgeting process in a familiar format/syntax (Excel) but not suffer linkage issues we had grown accustomed to in the pre-Vena days.
Jay Scheumack profile photo

Feature Rating Comparison

Payroll Management

Abila MIP Fund Accounting
7.6
Vena Solutions
Pay calculation
Abila MIP Fund Accounting
8.7
Vena Solutions
Benefit plan administration
Abila MIP Fund Accounting
7.1
Vena Solutions
Direct deposit files
Abila MIP Fund Accounting
8.6
Vena Solutions
Salary revision and increment management
Abila MIP Fund Accounting
7.1
Vena Solutions
Reimbursement management
Abila MIP Fund Accounting
6.6
Vena Solutions

Customization

Abila MIP Fund Accounting
8.0
Vena Solutions
API for custom integration
Abila MIP Fund Accounting
7.9
Vena Solutions
Plug-ins
Abila MIP Fund Accounting
8.1
Vena Solutions

Security

Abila MIP Fund Accounting
8.5
Vena Solutions
Single sign-on capability
Abila MIP Fund Accounting
8.5
Vena Solutions
Role-based user permissions
Abila MIP Fund Accounting
8.6
Vena Solutions

Reporting & Analytics

Abila MIP Fund Accounting
7.6
Vena Solutions
Dashboards
Abila MIP Fund Accounting
6.7
Vena Solutions
Standard reports
Abila MIP Fund Accounting
7.9
Vena Solutions
Custom reports
Abila MIP Fund Accounting
8.0
Vena Solutions

General Ledger and Configurable Accounting

Abila MIP Fund Accounting
7.8
Vena Solutions
Accounts payable
Abila MIP Fund Accounting
8.5
Vena Solutions
Accounts receivable
Abila MIP Fund Accounting
8.2
Vena Solutions
Cash management
Abila MIP Fund Accounting
8.0
Vena Solutions
Bank reconciliation
Abila MIP Fund Accounting
8.5
Vena Solutions
Expense management
Abila MIP Fund Accounting
8.2
Vena Solutions
Time tracking
Abila MIP Fund Accounting
6.9
Vena Solutions
Fixed asset management
Abila MIP Fund Accounting
7.8
Vena Solutions
Multi-currency support
Abila MIP Fund Accounting
7.0
Vena Solutions
Multi-division support
Abila MIP Fund Accounting
8.4
Vena Solutions
Regulations compliance
Abila MIP Fund Accounting
8.2
Vena Solutions
Electronic tax filing
Abila MIP Fund Accounting
7.7
Vena Solutions
Self-service portal
Abila MIP Fund Accounting
6.4
Vena Solutions
Standardized Processes
Abila MIP Fund Accounting
7.0
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
6.5
Vena Solutions
Order entry
Abila MIP Fund Accounting
7.0
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
7.2
Vena Solutions
Client data roll-up capabilities
Abila MIP Fund Accounting
7.9
Vena Solutions
Configurable alerts
Abila MIP Fund Accounting
7.6
Vena Solutions
Billing bypass
Abila MIP Fund Accounting
6.9
Vena Solutions
Client template cloning
Abila MIP Fund Accounting
7.5
Vena Solutions
Single sign-on
Abila MIP Fund Accounting
4.5
Vena Solutions
Industry-specific versioning
Abila MIP Fund Accounting
8.0
Vena Solutions
Legacy system data migration
Abila MIP Fund Accounting
7.7
Vena Solutions

Budgeting, Planning, and Forecasting

Abila MIP Fund Accounting
Vena Solutions
8.7
Long-term financial planning
Abila MIP Fund Accounting
Vena Solutions
8.8
Financial budgeting
Abila MIP Fund Accounting
Vena Solutions
8.9
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
8.8

Consolidation and Close

Abila MIP Fund Accounting
Vena Solutions
8.8
Financial data consolidation
Abila MIP Fund Accounting
Vena Solutions
8.9
Journal entries and reports
Abila MIP Fund Accounting
Vena Solutions
8.4
Multi-currency management
Abila MIP Fund Accounting
Vena Solutions
8.7
Intercompany Eliminations
Abila MIP Fund Accounting
Vena Solutions
8.8
Minority Ownership
Abila MIP Fund Accounting
Vena Solutions
9.1
Local and consolidated reporting
Abila MIP Fund Accounting
Vena Solutions
8.9
Detailed Audit Trails
Abila MIP Fund Accounting
Vena Solutions
8.5

FInancial Reporting and Compliance

Abila MIP Fund Accounting
Vena Solutions
8.7
Financial Statement Reporting
Abila MIP Fund Accounting
Vena Solutions
8.9
Management Reporting
Abila MIP Fund Accounting
Vena Solutions
8.3
Excel-based Reporting
Abila MIP Fund Accounting
Vena Solutions
8.9
Automated board and financial reporting
Abila MIP Fund Accounting
Vena Solutions
8.8

Analytics

Abila MIP Fund Accounting
Vena Solutions
8.9
Personalized dashboards
Abila MIP Fund Accounting
Vena Solutions
8.7
Color-coded scorecards
Abila MIP Fund Accounting
Vena Solutions
8.8
KPIs
Abila MIP Fund Accounting
Vena Solutions
9.1
Cost and profitability analysis
Abila MIP Fund Accounting
Vena Solutions
8.9
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
8.5
Flat file integration
Abila MIP Fund Accounting
Vena Solutions
8.5
Excel data integration
Abila MIP Fund Accounting
Vena Solutions
8.6
Direct links to 3rd-party data sources
Abila MIP Fund Accounting
Vena Solutions
8.4

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
  • Maintains integrity of front end spreadsheets because inter-linking the various templates is done outside of Excel.
  • Allows us to import data directly from our accounting and payroll system to populate templates.
  • Provides flexibility through multiple scenarios ....allowing several versions of a budget to exist concurrently.
  • Template control allows us to engage multiple managers in the process, each working on their own program template without impacting the work of other managers.
Jay Scheumack profile photo

Cons

  • The Fixed Assets module is somewhat difficult to use with respect to disposals
  • In A/R posted transactions there is no dollar amount posted
  • When requesting posted transactions, all items appear, not just the one being requested
  • A/P vendor history displays in date order by clicking the tab at the top of the column. However, a printed version does not come out in date order
  • We have had problems matching the A/R aging report to the General Ledger
  • The drill-down feature should be expanded to areas other than financial statements
Robert Bowsza profile photo
  • When first learning to use Vena, it may seem that reports can't be created as easily as in other solutions - there's no drag and drop from a selection of fields. However, once the Vena tool is learned, reporting becomes much easier.
  • The flexibility of Vena may also be a downside for some administrators. A vision for what a template or report should look like and do is needed as building a template or report starts with a blank Excel workbook.
  • Vena isn't the flashiest budgeting tool available, but we believe the flexible functionality outweighs the looks of other software.
Lori Lambert profile photo

Likelihood to Renew

Abila MIP Fund Accounting9.2
Based on 42 answers
I am not the decision-maker, but it would be my recommendation at this point.
Christine Frenzel 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 Accounting8.9
Based on 37 answers
It is great and easy to use once you have had some training, some are more complex than others, but overall it is a great product.
Tracie Lambright 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 Accounting9.0
Based on 6 answers
The only time we have had a big issue is when our server went out, and this was not a MIP issue
Frances LeClair profile photo
No score
No answers yet
No answers on this topic

Performance

Abila MIP Fund Accounting9.9
Based on 6 answers
We have had problems with MIP's ability to integrate with other software or systems. Just makes for a longer shopping time when searching for products we need to integrate with MIP
Frances LeClair profile photo
No score
No answers yet
No answers on this topic

Support

Abila MIP Fund Accounting8.7
Based on 35 answers
I had to call support for an issue I was having to reverse a batch that was posted by mistake. The support lady was really helpful in guiding me to the correct steps in resolving my issue. I felt very confident in knowing I can call them to resolve my issues
Luis Godoy 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 Accounting10.0
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 21 answers
There were no records available to indicate where accounts with balances needed reversing entries. This problem carried forward for several years until it was traced back to implementation and reversed.
Christine Frenzel 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 have not had an opportunity to compare this system to others. I had no input in selecting this system. I would have liked to have compared it to other systems in terms of ease of use/intuitiveness, flexibility and granularity of report development, and capabilities in dealing with prior year adjustments and their effect on trial balance reporting. On those counts, I do not think the system scores very high
Thomas Harty profile photo
All of the products we reviewed essentially re-create an Excel template in a browser, but without all the functionality that Excel provides. The solutions we reviewed require formula syntax to be learned as the syntax is different than Excel formulas. Some of the solutions didn't have enough depth to the data model to accommodate our chart of accounts. Vena provides more flexibility in creating data collection templates, and we believe had greater end user acceptance than other solutions would have had. We use IBM Cognos for financial reporting, but the learning curve on creating reports and powerfully using this tool is significantly higher than with Vena
Lori Lambert profile photo

Scalability

Abila MIP Fund Accounting9.0
Based on 6 answers
Not real sure what you mean by scalability. It seems to be able to handle all of the funds we are currently working with. If you mean the looks of it, some things are small and it would be nice to increase the size according to the user.
Frances LeClair profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • As a non-profit, our main business objectives are to stay within regulations so that we may be paid by our funders and continue to contract with them..MIP allows us to track information to assist in this objective.
  • Cash management is very important, since we are often paid in arrears. MIP helps us track cash and outstanding program balances.
Kathy Dugan profile photo
  • We shortened the month-end close time by about 50%.
  • We were able to incorporate more processes than what we originally started with, which, in addition to time savings, ensured error-free reporting and seamless integration of various sub-processes (in the end - resulting in higher-quality deliverables).
  • The ability to maintain and analyze the Audit Trail significantly shortened the analysis of changes and error-checking.
Teymur Mammadov, CPA, CA, FCCA (UK) 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