Item: MIP Fund Accounting
Rating: 6
Author: Verified User

Overall Satisfaction with MIP Fund Accounting

Use Cases and Deployment Scope

MIP Fund Accounting is our accounting system of record for recording transactions for GAAP compliance and used for day-to-day accounting / business operations. It is also used to access data for reporting for either actual data or projection data for scenario planning / analysis. It is used only by the Finance department.

Pros and Cons

Pros

Availability of multiple segments for needed reporting functionality
Allocation module for automation of transactions
Free-form nature of MIP to design things as needed for your organization

Cons

It's not user-friendly. Could use a major user-interface overhaul
Learning curve is high.
MIP suggests using an outside app, Drillpoint, for its reporting. Its own reporting should be sufficient, but it is not.
The open-ended nature of MIP can lead to mistakes, such as reports not being designed properly, or leaving data out of reports.

Return on Investment

Creates an appropriate audit trail for clean financial audits

Performance

MIP's segments allow for seamless reporting on multiple funds. Each segment (field) can be reported on. Organizations have many options on how they can set up segments that work best for their own reporting needs. It is highly customizable. Segments can represent different funds, or any other field an organization might choose.

Likelihood to Renew

I would like to continue using MIP, but there is a push at my organization to use a system that can more easily be integrated with other popular tools for enhanced automation. It is possible that we will move away from MIP in the next couple years for this reason.

Alternatives Considered

We needed an option that included segment accounting due to the nature of our business (nonprofit accounting).

Key Insights

Do you think MIP Fund Accounting delivers good value for the price?

Yes

Are you happy with MIP Fund Accounting's feature set?

Did MIP Fund Accounting live up to sales and marketing promises?

Did implementation of MIP Fund Accounting go as expected?

Yes

Would you buy MIP Fund Accounting again?

Yes

Other Software Used

Slack

Likelihood to Recommend

MIP Fund Accounting is good for basic accounting transactions. MIP segments allow for a wide variety of reporting options. MIP's allocation module is great for automating some journal entries. MIP is not user friendly, has a high learning curve, is not good for reporting, and can create issues with its lack of pre-defined reports.

MIP Fund Accounting Feature Ratings

Using MIP Fund Accounting

Business Processes Supported

It is used for day-to-day accounting work

Innovative Uses

None

Future Planned Uses

Unsure

Users and Roles

6 - Finance and Accounting

Evaluating MIP Fund Accounting and Competitors

Products Replaced

Key Differentiators

Other

Compliance with GAAP

Evaluation Lessons Learned

Unsure

MIP Fund Accounting Support

MIP Fund Accounting Customer Support Pros and Cons

Pros	Cons
Good followup Immediate help available Quick Initial Response	Slow Resolution Less knowledgeable Problems left unsolved Not kept informed

Premium Support

No, we haven't had a need for that.

Support Rating

It's not uncommon for support to not have an answer for my problem, or an appropriate answer.

Using MIP Fund Accounting

Easy Tasks

Accessing the different modules available

Difficult Tasks

Understanding the infrastructure of the program (Sessions, batches, etc.)
All reports are custom, none are built in and ready to go

Mobile Interface Availability and Impressions

Yes, but I don't use it

Usability Pros and Cons

Pros	Cons
Well integrated Feel confident using	Do not like to use Difficult to use Requires technical support Slow to learn Cumbersome

Usability

It isn't user friendly and it has a steep learning curve. It also has lots of bug-type issues that make using MIP frustrating.

Integrating MIP Fund Accounting

Ease of Integration

Integration appears to be possible, but is not easy, from my experience.

Systems Integrated With

Looker

It was incredibly difficult and many hours were spent working with an in-house programmer to make it happen.

Future Integration Plans

ADP payroll
Certify

Not that I know of

Types of Integration

I don't know

Integration Lessons Learned

Not my area of expertise

Comments

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Carolyn White
(Vendor Representative) commented 4 years ago
Thank you for sharing your experiences with MIP! We would certainly like to assist you further in some of the pain points you share here, as well, hear any user-interface feedback with our product teams. Email directly -usability@communitybrands.com, or, if you'd like to share more anonymously submit on our ideas page -https://mipideas.abila.com/. You can also find the "Submit Product Enhancement" link in the Help menu within MIP. Let us know how we can further support you!