Managed Service Providers (MSPs) need efficient payment solutions to thrive. With the global managed services market expected to reach $731.08 billion by 2030, growing at a CAGR of 13.6% from 2023 to 2030, choosing the right payment platform is crucial. Let’s compare Alternative Payments and ConnectBooster across seven key areas to see why Alternative Payments is the better choice for forward-thinking MSPs.
1. Innovation and Development
ConnectBooster, since Kaseya acquired it, has shown little innovation. The platform has remained largely static, potentially hindering MSPs’ ability to capitalize on the projected market growth to $731.08 billion by 2030.
Alternative Payments takes a different approach. We release new features weekly and maintain an aggressive development roadmap. This constant evolution ensures MSPs are well-equipped to capture their share of the rapidly expanding managed services market. Our roadmap is completely public and we prefer to build in the “public eye” and showcase our work for the entire community to see.
2. Billing Structure
ConnectBooster splits billing into multiple components: software, payment gateway, and merchant processing. This results in several invoices from different vendors, complicating financial management.
Alternative Payments simplifies this with a single, comprehensive bill covering all platform and processing fees. Given that 60% of businesses spend 14 hours weekly on payment-related admin tasks, our streamlined approach saves MSPs significant time and effort. Reconciling payment processing fees is extremely simple and easy as all invoices reconcile 1:1 based on the invoice amount.
3. Integration and Flexibility
ConnectBooster offers integrations with several MSP-focused tools, including ConnectWise Manage and QuickBooks. They also have some unique integrations with niche platforms like Datagate (for telecom billing) and GreatAmerica. However, users have reported that some of these integrations can be complex to set up and manage, potentially requiring additional time and resources to fully implement.
Alternative Payments integrates with more accounting solutions than any other payment platform in the MSP space, including ConnectBooster. We seamlessly connect with all major accounting systems used by MSPs, such as QuickBooks, FreshBooks, Xero, NetSuite ERP, Microsoft Dynamics, and Sage Intacct. This flexibility is crucial in a market where ACH credits make up 37% of B2B payments in North America. Whether you are moving to an ERP solution or switching accounting packages, we have you covered!
Our extensive integration capability significantly reduces manual data entry, minimizes errors, and streamlines financial operations. Additionally, our large development team maintains an aggressive roadmap for new integrations, constantly expanding our offerings to meet evolving MSP needs. This commitment ensures that Alternative Payments remains at the forefront of integration capabilities in the industry, providing MSPs with a future-proof solution for their payment processing needs.
4. Customer Support
ConnectBooster users report waiting one to two days for responses to service requests. In the fast-paced MSP world, this delay can significantly impact operations and cash flow and leave your clients holding the bag.
Alternative Payments prioritizes responsive support and smooth onboarding. We understand that 68% of small businesses now prefer electronic payments over cash and checks. Our quick, knowledgeable support helps MSPs meet these changing client expectations efficiently. On average, Alternative Payments responds in less than 10 minutes, enabling you to quickly solve problems. If you ever need to reach the CEO & Founder, Baxter, he’s available: baxter@alternativepayments.io or his direct cell phone is (917) 744-6597. (Try it!)
5. Pricing and Fees
ConnectBooster’s pricing structure is complex and expensive. MSPs receive three separate bills:
- A platform / software fee from Kaseya under the ConnectBooster name
- Credit card processing fees, typically from Clearent, following the interchange fee schedule plus additional percentage and transaction fees
- ACH fees from BNG Payments on a per transaction basis
This fragmented billing structure complicates financial management and can lead to unexpected costs.
Alternative Payments offers a streamlined, transparent pricing model:
- A single monthly bill covers all platform fees
- Credit card processing fees are 2.9% for Visa/MasterCard and 3.5% for American Express
- ACH transactions are free
We recommend that MSPs pass credit card processing fees to end-customers. When this option is selected, the fee is added to the invoice, collected by Alternative Payments, and never enters the MSP’s bank account. This approach simplifies accounting, as MSPs see the full invoice amount deposited and don’t need to reconcile processing fees.
Whether MSPs choose to absorb the fee or pass it on, our system ensures correct auto-reconciliation in their accounting solution. This transparent, single-bill approach aligns with the industry trend of streamlining operations, as over 60% of businesses spend 14 hours weekly on payment-related administrative tasks.
6. Unique Features
ConnectBooster focuses on basic accounts receivable automation and customizable payment plans. While useful, these features may not fully address the needs of growing MSPs.
Alternative Payments goes further:
- Collections Assist helps manage overdue invoices while maintaining positive client relationships.
- Teams allows customization for multiple locations or business units.
- Insights provides real-time financial data for informed decision-making.
- Financing options help MSPs offer payment plans to clients without financial strain.
These features help MSPs adapt to diverse client needs and scale their businesses effectively.
7. User Experience and Continuous Improvement
ConnectBooster’s interface, while functional, can be complex to navigate, especially for end-clients. As part of a larger corporate structure, improvements to the platform can be slow, potentially leaving MSPs with outdated tools.
Alternative Payments prioritizes user experience for both MSPs and their clients. Our intuitive interface reduces payment-related support issues. We’re committed to continuous improvement, quickly implementing user feedback and adapting to market trends. This agility ensures our platform evolves with your business, consistently providing value and keeping you ahead of industry changes.
Conclusion
As digital payments become the norm, MSPs need a payment solution that can keep pace. Alternative Payments offers clear billing, extensive integrations, responsive support, and innovative features that streamline operations and improve cash flow.
Ready to see how Alternative Payments can transform your payment processes? Let’s talk. Your future self (and your accountant) will thank you.
