Article | June 11, 2023

A Single Or Multiple Vendor Payment Platform Approach For MSPs: Which Is Better?

Source: ConnectBooster
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The Pros and Cons of Each Approach for IT Services Firms

One of the age-old challenges for managed services professionals involves tool strategies. Whether assembling their portfolio of client-oriented solutions or designing internal technology systems (or both), many MSPs tend to transition their approaches over time and adopt whichever option makes the most sense at that particular point. A lot of variables come into play.

From the availability of integrations and features that support an MSP business as well as support options and affordable pricing, providers must assess each piece based on their own business needs. Every component needs to make sense from an operational and financial perspective, providing the organization with the necessary functionality with few, if any compromises.

Those factors are especially critical when it comes to the payment side of an MSP business. Concessions in this critical area can be costly. Can providers effectively use a single vendor platform to manage invoices and accounts receivables, or should they assemble a specific collection of solutions from different suppliers to handle those responsibilities?

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