Building something great requires the right tools. Your accounting toolbox needs to be agile, equipped, and ready to tackle any challenge as you work on your project.
At MIP Fund Accounting®, we aim to give customers the tools they need to be successful. For organizations looking to add additional workflow functionality to MIP, we have the right tool for the job: MicroixTM Workflow Solutions.
The Benefits of Workflows
Workflows in general manage repetitive tasks and processes in a user-defined order. They help optimize your organization and increase efficiency. In the upcoming 2023 Nonprofit Research Study, some 61% of respondents said aspects of their current systems were time-consuming and, in turn, inefficient.
When you use workflows and automation towards requisition and purchase processes, you can improve your accounting team’s efficiency and reduce the number of manual tasks your team currently handles. MIP provides a solid foundation for your accounting needs, and Microix Workflow Modules builds on top of MIP’s functionality to create paperless workflow.
For example, when you use MIP’s Requisition module with Microix, you complete your approval workflow and generate a purchase order. Microix offers additional capabilities like vendor punchout and an HTML approval loop to allow mobile approvals. The core functions stay the same, and the extra features make your team’s job more efficient and streamlined.
With Microix, you can set-up system alerts for elements like:
- If documents aren’t approved in a timely manner
- If someone exceeds their budgeted limit
- And many others
Another Tool in Your Toolbox
Microix offers additional capabilities around:
- Automating data processes
- Streamlining reporting needs
- Creating customizable workflows setup around the segment values within MIP
- Going green with paperless forms
- Approval delegation letting your organization set-up alternate people in the event of an absence
- Vendor punch-out that lets your organization shop online without ever leaving the requisition or punch-out system
- and much more!
Microix allows you to automate the purchase-to-payment process, including requisitions, purchase orders, invoice approvals, and expense management.
Along with Requisitions, Microix Workflow Modules enhances MIP with additional modules, including:
- Budget: Enter budgets electronically
- Microix’s budget module allows you to create budget worksheets for any period. Microix automates the process by building worksheets on any program, fund, grant, department, cost center, or other designation.
- The module integrates with MIP and enables you to pre-load worksheets with data from both current and prior year general ledger entries.
- Once you finalize your budget, you can submit it through a multilevel approval process.
- Once approved, Microix transfers the budget to MIP seamlessly.
- Time Sheet: Automate timesheet management
- Microix’s timesheet module lets employees electronically record timesheet entries and automatically routes them through a multilevel approval process.
- Once you approve the timesheet, Microix will adjust an employee’s payroll distribution code to match their timesheet and generate a regular timesheet within MIP’s payroll module.
- Inventory: Manage inventory efficiently
- Microix’s inventory module makes managing your inventory simple.
- It works with Microix’s requestion module to create a workflow approval process that integrates into MIP.
Stop using a hammer to turn a screw and join hundreds of organizations using Microix Workflow Modules to add another tool to your toolbox today.
Request a follow-up to see a personalized demo of Microix today.