What is MSP billing software?
MSP billing software is a platform that enables automatic recurring customer billing. With this software, there’s no manual billing required — once you set up billing for a customer, invoicing and payments are automated.
What are the benefits of MSP billing software?
Let’s look at how MSPs can benefit from implementing billing software.
Efficiency
Manual billing is a time-consuming process. You have to review your technicians’ billable hours per client, reconcile that with service agreements, and check for any one-off billable services. Depending on the client, you may also have to mail a paper invoice, wait for them to process it, and then issue payment. But with MSP invoicing software, this whole process is automated.
MSP billing software charges customers for service on a specific date (typically monthly or annually) and keeps a record of every transaction. There’s no paper waste, no postage required, and most importantly – no hassle.
A better customer experience
MSPs don’t want to waste valuable time on administrative tasks — and neither do your customers. Automating payments means your customers don’t have to process invoices, get approval for payment, and submit payments. Customers also can avoid late fees with automated billing.
Reduced risk of error
With software to manage all billing, you can avoid errors like overbilling, underbilling, or late invoicing.
Predictable cash flow
Traditional invoices include a due date, but payments might occur well before or after that date. When your customers are on an automatic payment plan, your cash flow is predictable, which is helpful for long-term planning.
Annual pricing
Most types of B2B software incentivize longer engagements by offering a price break. (Syncro customers, for example, can save $120/user/year if they pay annually). Your MSP billing software tracks annual agreements and can alert customers when their renewal date is approaching.
What to look for in MSP billing software
There’s no shortage of platforms you can use for automated billing. As you compare solutions, look for the following features:
Scalable pricing
If you intend to grow your client base, you’ll want MSP billing software with flat per-user pricing. That means you can add clients and endpoints without paying additional fees.
Integrations
You may already be using QuickBooks or another accounting platform, in which case you’ll want MSP billing software that integrates with your legacy bookkeeping software. Some billing software also integrates with other tools MSPs use every day, like Acronis, Splashtop, and Webroot.
Unlimited support
Whether you have a question about running a billing report, or you want to know how to add tags to tickets, you’ll appreciate access to unlimited support. Look for software with a support portal, knowledge base, and active customer community.
Security and backups
Your MSP billing software should regularly back up data to a secure offsite server and protect customer billing information. A platform that has earned the SOC 2 compliance certification upholds the highest standards for security.
Additional features
You may not need multiple software platforms to run your business. Some platforms that automate billing also include RMM, PSA, and remote access capabilities.
Continuous improvements
Providers of MSP software should actively seek to improve their products for a better customer experience. Before entering a service agreement, take some time to review a provider’s releases, patches, and the frequency of new functionality updates.
Simplify billing with Syncro
Automate billing and manage your business with Syncro’s all-in-one solution for MSPs. With our flat-rate pricing, you can add unlimited clients and endpoints, and count on our best-in-class security to protect client data.
See how Syncro boosts efficiency, improves the client experience, and gives you actionable business intelligence. Start your free trial today.
FAQ
How does Syncro improve the client experience?
Syncro has a client portal, so clients can submit tickets within the platform and see the status of previous tickets. MSPs can communicate with clients through Syncro, as well as send broadcast messages to all clients.
You can also use Syncro’s marketing automation to set up an email newsletter, create email sequences, and automate reminder emails for clients.
Can I use Syncro to invoice clients in other countries?
Yes. You can edit the invoice template to customize it for any customer, tax rate, and country.
How do I process credit card payments in Syncro?
Syncro has a credit card processing function, but you can also integrate an external platform, like Worldpay or PayPal.