In part two of our educational blog series, we are going to take a deeper dive into one of the biggest questions people have about ConnectBooster…
“How is ConnectBooster different from other automated payment solutions, like Intuit, Authorize.net or Bill.com?”
You are probably familiar with the big names – Paysimple, Intuit and Authorize.net – but did you know that ConnectBooster is the only solution that is fully integrated into multiple PSA tools like ConnectWise and Autotask, as well as accounting software like QuickBooks, and Great Plains.
What does that mean?
For starters, ConnectBooster works differently in that it is intelligent with what’s happening with in your PSA and accounting software, which means it is able to determine if an invoice is a one-time or recurring billing amount.
Even Authorize.net, one of the most widely recognized payment gateways, requires you to go in and manually audit your monthly payment amounts, because it won’t automatically recognize changes to invoices inside of ConnectWise, Autotask or your accounting software.
Because ConnectBooster fully integrates with your PSA, payments are automatically driven from recurring contracts or agreements, then reconciled in your accounting package.
Once your managed service customer sets their payment data into ConnectBooster, the intelligence of the software does the rest by billing and depositing the money owed to your IT company for recurring contracts.
For example, when a ConnectWise agreement or Autotask contract is adjusted by $500, ConnectBooster automatically adjusts the client’s next automated withdrawal correctly.
This eliminates any chance the client won’t be billed correctly, and the need to create a manual process to make sure that doesn’t happen, as necessary with other automated payment systems that compete with ConnectBooster.
Another popular payments solution, Bill.com, relies upon creation of a trigger within the software in order to carry out a function. Bill.com requires you to go in and set up a recurring billing schedule.
Even then, it still won’t recognize if the monthly recurring billing amount has changed within your PSA or accounting package. You will still have to manually reconcile any changes, and do so before the billing goes out for that month in order to avoid billing mistakes.
Newton Technologies streamlines its payment processing
“ConnectBooster has simplified my accounting, reconciliation, and collections significantly. Now everything just seems to work. I recommend it to anyone.” – Mark Newton, owner of Newton Technologies.
Prior to using ConnectBooster, Newton Technologies was unable to sync data between customer billing in ConnectWise, QuickBooks and their credit card processor. There was no automation to help alleviate this pain point.
Before implementing ConnectBooster, Newton Technologies would run payments manually, and then attempt to sync information from their bookkeeping software.
Now, thanks to ConnectBooster’s integration between ConnectWise and QuickBooks, Newton has streamlined its payment processing and found unpaid invoices that were more than a year old.
Christo IT gains time and peace of mind
“Our invoicing prior to ConnectBooster was a nightmare. We would spend over eight hours per month manually processing invoices and credit card payments.” – Chris Schalleur, Partner, Christo IT Services
Before implementing ConnectBooster, Christo IT’s accounts receivable process was completely inefficient. The company typically spend more than 8 hours per month manually processing payments.
Because Christo IT Services uses ConnectWise as their PSA solution, the fact that ConnectBooster fully integrates into ConnectWise and QuickBooks was a huge win.
ConnectBooster also reconciles with invoices in QuickBooks automatically, saving customers tons of time each month. This takes manual entry away from the accountant to reconcile invoices, reducing the time spent each month from hours to minutes.
With ConnectBooster, Christo IT doesn’t have to worry about whether or not they are being paid correctly every month. Contract billing, driven by MSP contracts inside of ConnectWise, update automatically with any changes, giving Christo IT the peace of mind that they are being paid correctly.
Download our E-book now.
Now that you’ve had a glimpse of what ConnectBooster can do for your ITSP, stay tuned for the rest of the series.
And if you really want to improve your cash flow, and get educated on how to alleviate the manual tasks involved in your daily invoicing, click here and download our E-Book for Autotask users.