ConnectWise has 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 cutting-edge 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.

"Wise-Sync provides payment and accounting software integration for MSPs and has a track record for receiving excellent partner feedback," said Chris Timms, executive vice president of growth, ConnectWise. "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 life cycle. 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 17 times. 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.

"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, who joins ConnectWise as general manager of payments. "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.