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August 31, 2022 |

ConnectWise Buys Accounting Integration and Payments Processing Vendor Wise-Sync

The deal marks ConnectWise’s first entry into the market for automated end user payment collection and reconciliation for MSPs.

ConnectWise has acquired Wise-Sync, a maker of accounting integration and payment processing software for MSPs.

Terms of the transaction, which ConnectWise announced during the Australian edition of its IT Nation Connect partner event, were not disclosed. 

Headquartered in Melbourne, Wise-Sync makes a solution designed to streamline financial management for MSPs by automatically synchronizing invoices in their ConnectWise Manage or Autotask PSA environment with corresponding records in their accounting application. The system supports both Intuit’s QuickBooks Online and the Xero accounting package. 

ConnectWise partners can view real-time sync status information from inside ConnectWise Manage as well via a built-in Wise-Sync dashboard that highlights anomalies and errors and offers instructions for fixing them.

An associated service called Wise-Pay automates the receipt of customer payments via credit cards and ACH, and then reconciles them in the MSP’s accounting platform.

In conjunction with the acquisition announcement today, ConnectWise also rolled out an integration between Wise-Pay and the ConnectWise Sell quoting solution. Wise-Pay integrates with software from CloudRadial, DeskDirector, Invarosoft, iSell, and QuoteWerks as well.

Wise-Sync software has long been sold online through the ConnectWise Marketplace, and will remain available there as a standalone product going forward.

“Wise-Sync provides payment and accounting software integration for MSPs and has a track record for receiving excellent partner feedback,” said Chris Timms, ConnectWise’s executive vice president of growth, in a media statement. “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.”

Paul MacNeill, Wise-Sync’s CEO and founder, and a former MSP, will remain with ConnectWise as the company’s new general manager of payments.

“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,” said MacNeill in prepared remarks. “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.”

Other recent ConnectWise acquisitions include managed security vendors Perch Security and StratoZen in 2020 and managed services consultancy Service Leadership last year.

Wise-Sync’s best-known competitor in payments processing for MSPs is ConnectBooster. That company has been the subject for months of acquisition rumors potentially involving ConnectWise competitor Kaseya.

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