ConnectWise, which claims to be the world’s leading software company dedicated to the success of IT solution providers, announced it has acquired Wise-Sync, an integrated payment automation platform and “long-term” partner in the ConnectWise ecosystem.
The acquisition will pair ConnectWise’s IT solution provider (TSP) software and services platform with payment processing and invoicing automation functionality.
Designed originally when founder, Paul MacNeill, saw a need to ease the challenge of automating the collection of payments, Wise-Sync is “an integration that allows TSPs to improve cash flow, remove painful errors, and allow businesses to scale.”
In addition to this integration being available in ConnectWise Manage, both groups also announce that partners using ConnectWise Sell now also “have access to Wise-Pay as a payment processor, enabling them to fully automate payment collection as their customer approves a quote.”
Chris Timms, EVP of growth, ConnectWise, said:
“Wise-Sync provides payment and accounting software integration for MSPs and has a track record for receiving excellent partner feedback. The long-time relationship with Wise-Sync as a trusted integration to ConnectWise APIs makes them a natural choice for onboarding more formally into the ConnectWise family. We are eager to take our first step into the payments processing space – ConnectWise products to date have not had this functionality. Expanding this part of our portfolio is an exciting move for us and our partners.”
Wise-Pay is “an integrated payment processing platform that seamlessly couples with Wise-Sync for an entirely automated invoice lifecycle.”
According to analysts, 90% of manual invoice processing costs “stem from labor; by streamlining the process with accounts receivable automation, costs can be reduced by 17x.”
Beyond the automation benefits Wise-Pay offers, Wise-Sync has “an established relationship with some of the world’s largest payment providers.” As a result, Wise-Pay is “the preferred choice for reducing the cash gap across hundreds of MSPs.”
MacNeill, who joins ConnectWise as General Manager, Payments, said:
“As part of ConnectWise, Wise-Sync will be able to leverage ConnectWise’s expertise to further improve our unique ability to bring payment automation experiences to MSPs globally. Expanding MSPs’ ability to build greater financial efficiency in their business is our top priority. ConnectWise opens doors for us to do so at scale.”
Wise-Sync, which already has deep integration with ConnectWise Manage, and now ConnectWise Sell, will continue “to be available for purchase as a standalone product via the ConnectWise Marketplace.”
For nearly 40 years, ConnectWise has been “committed to enabling and empowering partners to realize their vision of success.”
