AP Automation for MIP Fund Accounting
Is your organization a non-profit that is still managing the payment of vendors using Outlook? Have you looked for solutions but had issues in finding something that is flexible enough to meet your requirements and works with MIP Fund Accounting (MIP)? What if there was a solution to utilize what you already own, namely Office 365, to automate AP processing? DynamicPoint has married MIP Fund Accounting, Office 365, and our EasyAP365 accounts payable processing application to efficiently receive, designate for approval, and integrate the AP transaction in MIP Fund Accounting for vendor invoices.
Why Do I need Invoice Automation with MIP Fund Accounting?
EasyAP365 automate the otherwise manual receipt, processing, approval and MIP Fund Accounting integration of accounts payable vendor invoices. Purchase Order (PO) invoices are matched direct to the POs that exist within MIP. Non-PO invoices are coded to MIP general ledger accounts..
MIP Fund Accounting Invoice Automation with EasyAP365
Why Use Office 365 for AP Invoice Automation?
Microsoft Office 365 provides all the major building blocks for AP Automation including AI Builder OCR capabilities, Power Automate workflows and SharePoint document storage. As many MIP Fund Accounting customers also have Office 365, you get to leverage what you already own without buying and maintaining additional products. In addition, these tools provide greater flexibility in handling AP Invoice exceptions than other solutions.
How does DynamicPoint’s EasyAP365 work with MIP Fund Accounting?
Our development approach is to be a highly integrated extension of MIP Fund Accounting and support its status in the non-profit sector. Such data as vendors will remain in MIP and duplicating them in our app is not required. We also use MIP to validate GL accounts, verify invoices are unique and create the accounts payable transaction in MIP Fund Accounting such that it can be posted and paid. So unlike other solutions, there are not syncs or setup of configuration data twice. We instead use live integration to deliver seamless MIP Fund Accounting compatibility. Any transaction that is created in MIP will contain a link to drill back to the EasyAP365 app to view the originating invoice. This gives you full visibility to access all of the Office 365 stored documentation directly from the MIP interface.
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