Most MSP owners started their businesses because they saw opportunities to use their knowledge and skills to provide solutions to help their customers. With the average outstanding accounts receivable for most MSPs well past 30 days, owners didn’t anticipate becoming fulltime collections agencies, too.
Collecting payment on variable billing each month consumes a lot of human effort—separately updating your CRM or PSA and accounting package, sending invoices and reminders, and making follow-up phone calls to customers—all while toeing the line between providing customer service and asking for what’s owed. When payments are manual, it’s more likely they’ll be late and burdensome to collect. How many hours of manual labor does your MSP spend each month attempting to collect payment?
As the business grows, and the MSP’s own bills pile up, the effort required to get paid becomes unsustainable, especially when collecting and reconciling payments takes time away from growth opportunities within the business. When customers are slow to pay, cash flow is inconsistent, and revenue is trapped in A/R. You can’t scale your business with A/R; you need money in the bank.
Too many MSPs resign themselves to late and arduous payments as “just the way it is.” They presume the nature of variable monthly billing agreements make it impossible to set-up truly zero-touch autopay.
With ConnectBooster, billing and collections is no longer a time-consuming chore. Thanks to dynamic autopay and two-way data syncing with tools you already use, even varying monthly agreements require virtually no effort to get paid.
ConnectBooster automatically collects the exact dollar amount generated by your CRM/PSA’s invoice from your customer’s securely stored ACH or credit card, and then updates the correct data in your accounting package.
For example, when you document in your PSA that your client added three new employees this month, ConnectBooster intelligently and automatically pulls the correct amount from your customer based on the fluctuating terms on your contract. With no extra effort, you get paid on time, every time.
Meanwhile, your customers will feel confident they’re only paying for what’s owed through complete line-item transparency in the payment portal (which can be branded to your business). The portal gives your customers control while promoting on-time payments. Your customers can add, change and securely store payment methods, schedule and manage monthly autopay, and view their itemized invoices and payments history. When you integrate ConnectBooster with your tools, you enable your customers to pay your monthly bill in the same way they pay their phone bill—set it and forget it.
ConnectBooster’s zero-touch autopay could be your new best friend so you can spend less time on collections and more time growing your business.
Schedule a demo to see how zero-touch autopay with ConnectBooster could help your MSP get paid on time, every time.