Connectwise Buys Wise-Sync, A ‘Good Add-On’ For MSPs

The deal is aimed at helping MSPs to automate invoicing and reduce accounts receivable costs.

ConnectWise is acquiring longtime payment processing add-on partner Wise-Sync in a deal aimed at helping MSPs to automate invoicing and reduce accounts receivable costs.

Wise-Sync is already available in both ConnectWise Manage and ConnectWise Sell as part of a fully integrated automated payment collection platform that kicks in once an MSP provides a client price quote.

CRN reached out to ConnectWise, but had not heard back at press time.

Terms of the deal were not disclosed.

[RELATED: Eaton Puts Power Into The Hands of MSPs With ConnectWise Integration]

“This is a good strategic buy for ConnectWise,” said David Stinner, CEO of US itek, a Buffalo, N.Y.-based MSP. “This is a good add-on for MSPs. This is one of the next tools that MSPs really need to be looking at to put in their stack.”

Stinner himself has been eyeing payment processing providers to add to his MSP stack and will now more than likely add Wise-Sync to his stack.

“It has been on my radar to add one of these platforms, since we are a ConnectWise partner I would use the integrated Wise Sync tool before a competing product like ConnectBooster because of the risk of APIs,” he said. “It’s much safer from a cyber-security perspective to use a fully integrated tool by the same company as your PSA (professional services automation) platform instead of using a third party add-on. I give kudos to ConnectWise for making this acquisition.”

Stinner said he sees the Wise-Sync deal as a boost for MSP bookkeepers. He said as he looks at acquiring other MSPs the payment processing functionality will be key to integrating those acquisitions.

“We expect to complete several MSP acquisitions and that burden of extra billing could be eliminated with a tool like Wise-Sync,” he said. “We will be consolidating accounting of any acquisition that we do back to headquarters. All of the additional invoicing that will be needed makes a tool like this pretty important.”