Posts by MIP Team
How to Observe International Fraud Awareness Week
Reading Time: 5 minutes Nine percent of nonprofits are victims of fraud every year. While that may seem like a low number, the average loss of these fraudulent activities rose to $639,000 in 2020 for nonprofit cases alone. Losing any amount of funds or data due to fraud can damage your nonprofit’s mission and make it difficult to support your beneficiaries. International…
Read MoreIntegrate Your Financial Accounts for Instant, Accurate Data: Here’s How
Reading Time: 5 minutes Today, when everything from vacuuming to investing is automated, manual bank reconciliation feels outdated and more time-consuming than ever. That’s why we made automatic bank reconciliation possible with version 2021.2 of MIP. Automated Bank Feed Clearing is a new feature that allows the activity of certain banks and account types to be automatically listed in…
Read MoreThe Importance of Reducing Errors in Data Entry
Reading Time: 8 minutes Data entry is a critical everyday task for accounting teams in any organization, including nonprofits, schools, governments, and healthcare organizations. Your financial information is dependent on data entry, which means a single error can significantly impact your organization. Unfortunately, data entry is still often a manual task. This can leave your organization’s data entry vulnerable…
Read MoreWhy Paper Isn’t Working Anymore and Why Upgrading to the Cloud With MIP Is Important
Reading Time: 8 minutes Virtually every sector of the economy has become increasingly reliant on digital tools. The digitization of services brings new opportunities, especially for those holding on to manual systems. With global enterprise spending on cloud services reaching $129.5 billion in 2019, more organizations are realizing the cloud’s potential for spurring growth. The cloud enables organizations to streamline…
Read MoreBenefits of K-12 Schools Streamlining Their Financial Processes
Reading Time: 4 minutes K-12 schools often face financial challenges, from receiving funding to facilitating financial processes. Even with enough funding, schools can continue to struggle financially and manage complex accounting. To combat these challenges, your school district should understand how to develop an effective finance management plan for your institution, especially if you are facing budget cuts. Schools…
Read MoreStreamline Your Nonprofit’s Payroll
Reading Time: 4 minutes Nonprofit hiring is still suffering from the effects of the Great Resignation. As nonprofits work to become more employee-friendly, adopting workflows around payroll will help improve employee satisfaction and allow teams to reallocate resources to other processes. If your payroll system is antiquated or encounters frequent errors and miscalculations, it may be time to upgrade to…
Read MoreHow Technology Makes Talent Acquisition, Onboarding, and Development Easy
Reading Time: 5 minutes Employees are a vital asset to any organization. When it comes to talent acquisition and management, today’s fast-paced business environment might leave any organization relying on outdated practices behind. Fortunately, technology is evolving to streamline these processes and many others. Utilizing industry-leading technology solutions can improve how your organization recruits, onboards, and manages its employees,…
Read MoreMIP Customer Resource Library: How to Maximize MIP for Audits
Reading Time: 3 minutes Your organization is already in charge of its financial story using MIP Fund Accounting®, and when it comes time for an audit, we’ve got you covered there as well. MIP helps speed up and simplify your audit prep.
Read MoreFixing the Inability to Manage Data in Human Service Organizations
Reading Time: 9 minutes Having accurate data is essential for many organizations, especially human services organizations. Whether your human service organization is in government, the private sector, or a nonprofit, it depends on data to measure program success, ensure compliance, and generate reports. Good quality data can help your human service organization accomplish a wide range of tasks more…
Read MoreFrom The Lighter Side at MIP History
Reading Time: 3 minutes MIP’s pursuit of excellence in its 40 years is evidenced by its long list of customers, awards, and reputation. That said, there have been some “lighter” moments that are fondly remembered during its evolution through the years. In the early 1990s, before the advent of email (and long before PDFs and the cloud), it was…
Read MoreBuckets of Saving for Buying a Nonprofit Accounting Solution
Reading Time: 8 minutes Among the nonprofit professionals we surveyed, almost half use six digital tools to perform their duties. As many as 23% rely on eight digital tools. However, reduced efficiency results from this complex digital infrastructure, and 78% of nonprofit professionals report spending about a quarter of the workday juggling between several systems. Fortunately, you can increase efficiency and…
Read MoreHonoring Our History
Reading Time: 2 minutes While MIP began as a vision shared by Bill Locklear and Hans “Rusty” Turley, it is Locklear who, according to the legend, dedicated space in his home for creating the original software that went on to become today’s powerful MIP Fund Accounting solution. But there was more to Locklear than being simply a product inventor. …
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