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PAYMENTS
IN THE FUTURE
Paul MacNeillManaging Director
Virage IT
Started as PRO.INTEGRATIONS in 2003Formed Virage IT in 2012 (French n. Turn)MSP 501 2015 - #6 Small Business - #24 AANZ - #366 Global
Wise-Sync
Developed for Virage IT to move to XeroCurrently has 250 clients
Wise-Pay
Launching @ IT Nation
Plastc™Your answer to the 20 Card Wallet
How do you get Paid?
Credit Card
Automatic Payment
Direct Debit
Paid on Terms
Cheque
Really?
• Larger Players Entering Smaller Markets• Greater Efficiencies needed in back
office.• Becoming a cloud broker / order-taker
Changing MSP Landscape
• Wants it Now• Willing to accept CC Surcharges (over
the counter)• LOOOOVES Reward Points
Consumer
Willing to accept your customer payments!
Payment Flexibility
Early adopters eat the late
Innovators Early adopters Late majority LaggardsEarly majority
V’sNew Old
The MRR Model• Driving Recurring Revues• Increase Cashflow• Simplifies engagement
CASH FLOW IS KING!
2007 2008 2009 2010 2011 2012 2013 2014
Average Monthly Turnover
staff
The Real Cost of Accepting Credit CardsAnalysis from our Wise-Pay Calculator.
Current AR Balance
Percentage of Payments Processed By Credit Card
Average AR Days
Monthly Turnover / #Invoices Per Month
By reducing the time to fix data errors, reconcile books, and travel to the client
$160,000
30%
35
$95,000 (100 Invoices)
Bottom Line Impact
staff
The Real Cost of Accepting Credit CardsAnalysis from our Wise-Pay Calculator.
Reduction of Days Sales Outstanding
Repatriated Cash
Opportunity Cost (Recovery)
Direct Cost Savings
$38,145 (in your pocket)
10
$28,421
$23,448
$11,423
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