ConnectWise recently hosted a webinar on accounting automation, featuring certified integrators
Avalara, Dean Dorton, and Zynk. The content focused on how accounting automation can help MSPs to reduce costs, comply with tax obligations, and improve cash flow. If you’d like to watch the recording yourself,you can check it out here.
Here are some of the key takeaways:
Accounting pain points for MSPs: Some common challenges that MSPs face in accounting are tax complexity, manual invoicing, cash collection, and data accuracy. Our presenters showcased how their integrations can help MSPs automate and streamline these processes, as well as provide insights and reports to improve profitability and growth.
Importance of certified integrations: The webinar also highlighted the importance of Invent, ConnectWise’s integration certification program,which involves collaboration with third-party vendors to deliver secure, supported, and best-in-class integrations to partners. Certified integrators go through an in-depth security process and work closely to innovate and improve their solutions.
Benefits of tax automation: One of the most interesting statistics shared during the webinar was that 88% of best-in-class companies feel confident to comply with tax obligations after implementing a tax automation system, compared to only 21% of others. This highlights the importance of automating tax compliance to reduce the risk of errors and penalties.
Cost of manual invoicing: Another startling statistic shared during the webinar was that without an invoicing automation solution, it can cost up to $11.50 USD to generate a single invoice. This can add up quickly and impact the bottom line. Automation solutions can bring this cost down to just $0.71 USD per invoice, resulting in significant savings for MSPs
By automating processes such as tax compliance and invoicing, MSPs can reduce costs, improve accuracy, and focus on growing their business.
Want to Learn more about Automation?
We hope that you join us for our next webinar premiering on Wednesday, April 24th, featuring GlassHive, Gong and TimeZest, where we’ll discover how automation can transform your MSP by improving client satisfaction as well as operational efficiencies and driving sustainable growth. You can now register here!
