MSP+OS & Wise-Sync Automate the End-to-End Billing Lifecycle

  • MSP+OS Team
    close button

    MSP+OS Team

  • February 21, 2023
  • 4 minute read

We’re all looking to shorten the cash flow gap and never chase a payment again – which is why MSP+OS work closely with Wise-Sync.

Wise-Sync, recently acquired by ConnectWise, is a Melbourne-based tech company (born from an MSP much like MSP+OS) that has helped almost 1,000 global IT service providers automate their invoice lifecycles from end to end. Together, SPG and Wise-Sync collaborate to deliver payment automation and efficiencies to MSPs and TSPs. 

The SPG team met up with Paul MacNeill, Founder & CEO of Wise-Sync, to dive deep on: 

  1. Why cash flow is the most critical asset of a business

  2. How MSP+OS and Wise-Sync teamed up to supercharge MSP efficiency

  3. The combined benefits of leveraging Wise-Sync x MSP+OS

“The efficiencies of Wise-Sync products only come from efficient use. If you’re only utilizing 5% of the software, you’re not getting the maximum value of the product. That’s where businesses like Sierra Pacific Group come in and provide invaluable guidance.” 

Wise-Sync: A better Integration 

While running an MSP in the late 2000s, Paul discovered a buildup of inefficiencies (manual steps and processes) between his ConnectWise Manage system and accounting integration. 

He took matters into his own hands and built an integration for automation between ConnectWise Manage and Xero — an early version of one of Wise-Sync’s current core products. 

By doubling down on automatic payment processing and accepting credit cards, he reduced their 48 days in receivables to just 2 days, drastically improving cash flow. 

Fast forward to a decade later, and Wise-Sync was acquired by ConnectWise in late 2022. That integration is now used by nearly 1,000 MSPs worldwide.

 

What exactly does the Wise-Sync product do?


Fundamentally, Wise-Sync helps businesses streamline and automate the invoice lifecycle from end to end, which enables efficient cash flow. Wise-Sync products can: 

  1. Integrate with ConnectWise Manage and Datto's Autotask PSA to stream valuable accounting data from systems that are built for billing but not accounting

  2. Put manual accounting tasks on autopilot, such as validating and departmentalizing records as soon as they’re transacted, thus eliminating manual errors

  3. Automate payment collections via ACH, credit cards, direct debit, etc. for an entirely hands-off invoice lifecycle

Ultimately, this high level of invoice and payment sync helps MSPs: 

  1. Shorten their cash flow gap

  2. Never chase after a payment again

This is fitting for Wise-Sync’s mantra as a company: Cash flow is your oxygen. Without it, you won’t be in business for much longer. 

This reality is exacerbated by current market conditions. As your clients have less cash to move around, they’ll be paying you later, which then impacts your ability to pay your bills on time. 

It’s hard enough running a business. You don’t need the additional pressure of badgering customers (during recession-like conditions) to pay up. 

That’s where Wise-Sync comes in to simplify billing and cash flow management — and help you get paid faster. 

“Wise-Sync helps MSPs get paid. That is a principal tenant for us: Cash flow is critical. You could theoretically have all the revenue in the world, but if you’re not actually getting paid, your business will not survive.” 

MSP+OS and Wise-Sync teamed up to supercharge MSP efficiency

Before Wise-Sync, MSP+OS utilized a different automated billing and collections tool that was suddenly acquired by Kaseya, and recently announced a large increase in premium. Adam Bielanski, our Founder & CEO at MSP+OS, took to the channel for a new solution and soon discovered Wise-Sync. 

As Paul recounts, Adam reached out to say, “I can’t believe I’ve had my head in the sand for so long. You guys at Wise-Sync do it all — and do it better than any other product.” 

In the end, MSP+OS chose to work with Wise-Sync due to three green flags: 

  1. Reputation — MSP+OS and Wise-Sync had come up in the same market at the same time. Word of mouth established Wise-Sync as one of the best products of its kind. 

  2. Delivery — The Wise-Sync product suite delivers on its core promises: all of the financial efficiency with little-to-none of the manual lift. 

  3. Acquired by ConnectWise — One of SPG’s key services is ConnectWise consulting, while Adam sits on the ConnectWise Advisory Council. “It felt like Adam had chosen the right product,” explains Paul, “and on top of that, little did he know at the time that ConnectWise had just acquired Wise-Sync.” 

 

Partnerships are effortless when you share the same goal for customers

From there, it was an easy transition to create a mutually beneficial partnership because SPG and Wise-Sync, as both are fully dedicated to one goal for their customers. 

Rather than placing a sole emphasis on revenue, both teams are committed to helping businesses achieve greater efficiency and sustainable growth. 

In Paul’s words, MSP+OS' ideal outcome isn’t more billable consulting hours — it’s the enhanced productivity and downstream success of the MSP. 

“If you look at the MSP+OS team, they’re all highly skilled professional athletes of the PSA world. They’re the dream team when it comes to third-party consultants. Adam is able to attract and retain that team because of the culture they’ve built.” 

The combined benefits of leveraging Wise-Sync x MSP+OS

MSP+OS and Wise-Sync often overlap when servicing a specific type of MSP: the company that’s been running on antiquated accounting systems for years (or sometimes decades). 

Paul still remembers when the shift toward cloud accounting and automation began in the early 2010s, when products like Xero first hit the market. 

Today, these forces are everywhere — and MSPs are clamoring for upgrades to stay competitive. 

Of course, a company like Wise-Sync could sell you an integration for cloud accounting to automate your pain points away. 

But your business needs to be set up for cloud accounting in the first place. 

That’s where the MSP+OS/Wise-Sync duo comes into play. 

  1. The setup — Consultancies like MSP+OS fulfill the fundamental, practical needs of a company that must, for instance, transition their workflows to cloud accounting. 

  2. The product — Wise-Sync is the product that then joins those interfaces together. They get vital data from Point A to Point B while providing automation capabilities for easier invoicing and cash flow management. 

  3. The optimization — From there, MSP+OS supports the MSP with migration, training and product education, and general consulting services to help the client maximize ROI from tools like Wise-Sync. 

“Together is better. Fundamentally, Wise-Sync cannot fully automate the invoice lifecycle without the efficient setup, structuring, and use of the PSA and cloud accounting products. This is where Wise-Sync and SPG work well in tandem.”

 

Ned Help Implementing Wise-Sync?

Schedule a call with our sales team to see a proposal for our Manage to QuickBooks Integration Project!
LET'S TALK!