How to maximize financial process efficiency: MSP+OS' cash flow playbook

  • MSP+OS Team
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    MSP+OS Team

  • February 22, 2023
  • 2 minute read

Process efficiency is an overarching trend that benefits your company’s cash flow. 

When your operation is full of snags and lacks optimization, it shows in your inability to convert quickly or generate customer trust, which would otherwise lead to upfront payments. 

As such, MSP+OS encourages prioritizing process efficiency for benefits like: 

  1. A positive client experience

  2. An optimized tooling stack

  3. Reduced people costs

To help providers on their way, MSP+OS recently hosted a webinar on achieving end-to-end financial automation. We covered everything you need to know about QuickBooks, Wise-Sync, and creating online systems to better manage cash flow and process efficiency. 

In this second recap, we cover:

  1. Why teams should invest in streamlining finances

  2. How process efficiency leads to major savings in people costs

  3. Process efficiency 101: MSP+OS' guide to toolkit optimization


Why teams should invest in streamlining finances

MSP+OS frequently works on streamlining the quote-to-invoice flow for our clients — for both the sales and internal financial processes. 

There are typically two components to streamlined finances: 

  1. Ensuring easy customer payments — MSP+OS often creates systems that enable an MSP’s clients to save payment methods in their portal. Once they accept the initial quote, all future invoices are billed automatically. 

  2. Correct labor management — This means best practices in invoicing. For instance, in-progress deferred projects must go to a deferred account. Overall, MSP+OS ensures the MSP can appropriately capture these financials. 

This level of integrated finances enables two key benefits: 

  1. Delivering a high-level client experience — To lead in your market, you must outcompete in the service department, a reliable source for referrals and word-of-mouth. 

  2. Cash flow management — End-to-end process efficiency helps both cash flow and the outflows associated with purchasing equipment and upfront costs from quote approvals. These benefits trickle down to keep your clients and your team happy. 


How process efficiency leads to major savings in people costs

If you’ve ever considered outsourcing the process of streamlining your financials, MSP+OS recommends doing so sooner rather than later. 

One place to start is Wise-Sync, a member of the ConnectWise suite and one of our go-to solutions for a fully automated invoice sync and lifecycle. In other words, you can boost your process efficiency and never chase a payment again. 

Human capital is crucial, but it’s also one of the biggest costs for providers. 

Doubling down on process efficiency is the solution. 

By automating bank statement reconciliations and payment allocations, you optimize your people to refocus on driving legitimate business outcomes. 

Your company shouldn’t make money by chasing after payments. 

You should make money by getting out there and selling. 


Process efficiency 101: MSP+OS' guide to toolkit optimization

Process efficiency isn’t just about collecting the right toolkit. 

It’s also about optimizing each tool and building streamlined processes around them. 

Luckily, MSP+OS' calling card is customizing tools to work for your teams, your schedules, and (most importantly) your clients. For instance, MSP+OS provides upgrades like: 

  1. Setting up triggers to automate the payment process

  2. Ensuring each tool is optimized, including negotiating for the lowest rate

Even if you choose to not work with MSP+OS (or any consultant for that matter), you should still take a long, hard look at the tools your company has chosen to pay for. Question their ROI. 

More often than not, your stack winds up sitting there, eating money, and collecting dust. 

Choose to optimize your tools — or get rid of them. 


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