MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.
N/A
Oracle Hyperion (legacy)
Score 7.5 out of 10
N/A
Oracle's Corporate Performance Management suite was acquired from Hyperion in 2007. Hyperion customers are encouraged to migrate to Oracle Fusion Cloud EPM.
We have looked into other programs such as Classy and GiveGab/Greater Giving. While the customization on the forms for those alternatives are better, the prices for those programs are just too high.
I've utilized other ERP accounting software like Infor, NetSuite, and MS Dynamics, to name a few. MIP Fund Accounting offers flexibility and room for growth while not being overly heavy on your team to maintain it. And, we're now learning more about the add-on's and more …
Abila MIP Fund Accounting was already in place with the Agency I am currently employed with, when I started my position there. I was able to teach Sage to myself, but Abila has been a little bit more complex as far as that goes, at least in my opinion.
While I feel Sage Intacct is a good software, it does not suite the needs of the organization the way MIP does. As I had mentioned, the Knowledgebase that MIP Fund Accounting has is an incredible tool that makes it so much easier for us to find solutions and to get the help we …
Our county still has EDEN - we use MIP for our grant and contract tracking because MIP is much more flexible to track the Data and run reports from. EDEN is impossible to do the kind of tracking that we need to track and bill our grants and contracts.
MIP Fund Accounting is the only financial software program that I have used for the purpose of consolidating financial data, and it seems to perform that function with a minimal learning curve. My employer is a non-profit entity. MIP Fund Accounting is built to function for …
I prefer MIP to the other software I have been exposed to based on cost, ease of use, and functionality. I have tried Blackbaud about 14 years ago and was not impressed as it was hard to use and not intuitive at all. As for quickbooks, I have not used that program in mane …
MIP Fund works well such as one competitor I have used before. Adapting to other online program software systems is the only thing I can think of that MIP could do better. But primarily as a non-profit with little time on hand and always overworked, a simpler software program …
Compared to other software I've used, MIP is by far the most user friendly and easiest to operate that've I've seen. Reports are easy to run, and I love being able to narrow down the information to only pull specific items.
The HRA used RealPage (I'm not sure if it is actually the one listed above), and it did not work well. I'm not sure if it wasn't set up well, designed for larger property management companies, or just not good software, but it did not suit our needs at all. We chose a different …
We are in the very first stages of looking at alternative accounting software. Abila MIP Fund Accounting was implemented at our organization before I started and our organization has now outgrown the system.
I use Oracle Hyperion Enterprise Performance Mangement because the company I work at requires me to use it in the Financial Planning sector as most of their data is stored in it. I am open minded and ready to use other performance management tools created by Oracle if my work …
Compared with some of the other products that had been used, Oracle Hyperion had solved the major impediment of integrating multiple ERP systems (both SAP and non-SAP) with relative ease while providing the business the leverage to analyze, comprehend, and rectify the data.
Hyperion makes it easier to create reports based on the data available on Hyperion. However is Phocas is better for drilling down information and it is also much more mobile.
None of the other products used or evaluated are available for me to select. I have used EPMware with is a competing software to DRM. I find the ROI on this tool greater then DRM. It is about a quarter of the cost and directly interfaces with multiple Hyperion applications. CXO …
Hyperion is easy to implement and maintain, low cost of ownership is also a great reason to select this product. Oracle's investment to keep the product innovations and improvements over the years is well appreciated by the users. The ease of managing integration with different …
Interim Director of Business Intelligence and Finance Systems
Chose Oracle Hyperion (legacy)
It is the leading system, with the most power and flexibility of any of these. It is also the most expensive. Berkeley needs the best possible tool for this job. Questica and Workday cannot handle the number of dimensions we use. Adaptive might be a good competitor but since I …
We utilize Tableau as well for reporting, but the good thing about OracleHyperion Enterprise Performance Management is it is in sync with our ledger as we utilize Oracle Ledger from our side. Tableau has a better user interface but the EPM's understanding of the data makes it …
When we were trying to decide between Oracle Hyperion and SAP BPC, the cost and functionality were pretty much the same between both products, but we decided for the Oracle solution as it was better positioned in the Gartner Magic Quadrant for consolidation softwares, and some …
Oracle has led the charge on the development of true EPM reporting. The development of rudimentary KPIs to much more complex models all can be housed and managed by Hyperion. Integrates with Office through Smartview, which provides flexibility in creating Word documents, board …
In our review, Oracle Hyperion Enterprise Performance Management stacks up pretty well against SAP Business Warehouse. The most glaring area was cost. For a product capable of the same level of reporting day in and day out, Hyperion offered the best bang for the buck. This …
Toyota has a global presence and deals with different countries and different currencies. To manage finance, this tool is the most reliable tool I found if the company has a global presence. If you deal with any tool to manage Financial matters, performance and reliability is …
We have evaluated other options in the past, and we are currently re-evaluating some of the SaaS providers due to the increased strength of those products over the last few years. However, our biggest need continues to be a very capable consolidation tool as we are …
Features
MIP Fund Accounting
Oracle Hyperion (legacy)
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
MIP Fund Accounting
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Ratings
Oracle Hyperion (legacy)
10.0
Ratings
7% above category average
Long-term financial planning
00 Ratings
10.00 Ratings
Financial budgeting
00 Ratings
10.00 Ratings
Forecasting
00 Ratings
10.00 Ratings
Scenario modeling
00 Ratings
10.00 Ratings
Management reporting
00 Ratings
10.00 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
MIP Fund Accounting works very well for general fundraising. The form creation process is easy and allows you to set parameters and add fees, quantities, images, etc. This process is smooth on the customer (forward-facing) side as well. Reports are generated once the transactions have gone through, making tracking and reconciliation with accounting easy.
Well suited: For use in multiple offices around the world. I was able to obtain financial reporting data from 5 foreign offices and then consolidate their data with 3 domestic USA offices to prepare a consolidated financial statement. Less Appropriate: Translating the financial value for consulting services could be a bit challenging because that required human interaction and judgement. It would have been great to be able to set up some software to be able to interpret this and let it run for all future project work revenue projection.
General Ledger processing, including journal entries and reports
Ability to download all reports directly to Excel and PDF formats
Use of Grant codes to enable grant reporting by month/quarter/year
Ability to have multiple departments and consolidate into groups for reporting
Accounts Payable and Accounts Receivable cannot be out of balance
Multiple ways to use the product including Cloud and Classic options, Visual menu or Standard (Top of screen) menus to select processes, many options we are not using in our simple organization
HFM is very powerful for financial consolidations .
Hyperion Planning is used to project accurate planning and thus provide the benefit to organization to do allocations and driver based planning so that it can justify the numbers based on headcount, number of stops & Revenue and thus provide valuable projections and thus help reduce the expenses.
Essbase is powerful engine helps provide analytical adhoc reporting for financial users . Performance of reporting and ease of use helps excellent customers experience when doing adhoc analysis.
With the payroll process, if there is an error in sending the stubs through email, there is no option to resend without a restore. That really needs to change.
Being able to void encumbrance at the same time as a PO would be an incredible time saver.
Oracle Hyperion requires a lot of knowledge and expertise to be successful.
The underlying infrastructure of Oracle Hyperion is complex and can be difficult to implement.
Some of the Oracle Hyperion application servers only run on Windows. Windows can sometimes be unstable.
Oracle Hyperion application server processes are dependent on each other and need to be started in a specific order. Therefore, if certain services die on one server, it could require all services/processes in the entire Hyperion landscape to be restarted in the correct order.
I give MIP a 10 because Our organization use MIP Fund Accounting ever since I've been there and that's been for over 20 plus years for all of our accounting and payroll. MIP has stayed on the cutting edge of technology, ever evolving to meet the needs of the times, especially post pandemic, while many are working remotely! MIP support staff are very knowledgeable and efficient. Even new users can get up to speed quickly with MIP Fund Accounting.
We're in the middle of the road because we are not sure that other products on the market fit the bill for what we need yet. Hyperion is expensive and burdensome from an administrator and maintenance standpoint, but it still seems to be the best solution for what we need. Show us an equally capable SaaS consolidation product and we'll talk again.
I don't know what it would be like in the for-profit arena, but for the non-profit arena, it is an excellent product. I love how you don't actually have to close years and are able to get information that spans over the year-end. And the grant tracking is excellent too. It is just an excellent accounting system.
I have rarely encountered any issues accessing MIP Fund Accounting over the years. On the rare occasions when availability was interrupted, the reasons were always found in-house when using the on-premises version. Since we have migrated to the MIP cloud, we have had no issues with availability. Any maintenance or updates are always communicated to us and are usually done outside of business hours.
MIP Fund Accounting is an important asset for performing search queries. If I had to do a historical search query without MIP Fund Accounting, I very well might have to pull data from three different programs, turn each piece into like-data myself, and then consolidate it all down into interpretive data. MIP Fund Accounting does it all by itself and has a wide array of ways to filter down as specifically or broadly as you want for any given query.
I have not reached out to MIP for technical support; however, their website offers great help resources so I can solve an issue on my own. Another team member reached out to MIP for support and was helped quickly. The transition process took longer than expected due to a lag in communication.
The premium support team provides much needed dedicated customer service which we are after for what we have paid for this service. We are satisfied with the service and support and do not have any instance where there was an issue that requires escalation to get the right support team. Though the incidence of major issues that requires the premium support are less, we prefer to keep this as a safety net.
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.
The training with Laura was amazing. She had answered all our questions and customized the training to our needs that we are working with and trying to address using MIP accounting. The only thing I wish that could come out of the trainings was to have permanent access to the recordings of our paid trainings we received. They recordings of the training only last for a short time before it goes away which makes it hard to go back and re-watch and learn.
Again, I was not directly involved with the planning and setup of the software. However, I was involved in training my staff during the implementation phase. As with any software implementation, consistency of training is key and a willingness to seek out help from Customer Support helps tremendously to insure accuracy of information and training.
I've utilized other ERP accounting software like Infor, NetSuite, and MS Dynamics, to name a few. MIP Fund Accounting offers flexibility and room for growth while not being overly heavy on your team to maintain it. And, we're now learning more about the add-on's and more advanced capabilities to leverage with our team.
Hyperion is easy to implement and maintain, low cost of ownership is also a great reason to select this product. Oracle's investment to keep the product innovations and improvements over the years is well appreciated by the users. The ease of managing integration with different business systems is also considered while selecting this product.
MIP is easy to install and use on my work laptop. I can still use the software when travelling for work or when working from home. It is always reliable and effective. This applies to other people on our organization as well. Employees who need access to the MIP database are able to access it from their desktop computers or laptops
When used, it also visibility to how we are using our allotted Government funds. It allows us to make sure we are being efficient with those dollars.
MIP Fund Accounting allows us to be more accurate in posting expenses. It allows us to be sure of which accounts are we are posting to. We can pull those accounts in real time and make sure that our entries are having the desired effect on the accounts involved.
MIP Fund Accounting allows accountability in that we can see who posted what, when they posted, and to which accounts they posted.
We had to get the planning application designed correctly before we got a good ROI, but once we did it became well liked and highly utilized.
It has had a very positive overall impact on increasing finance literacy across campus, allowing units a better insight into their revenues and expenses and the overall planning process.
It has been an essential tool during a time where the campus needed to reduce it's budget by over 100 million dollars annually. Without this product, we would not have a way to identify, track and report on our progress reducing the budget.
