Nexus User Conference 2018: 5 Messages We’re Still Thinking About
Our 2018 Nexus User Conference was one for the books! We had such a great time interacting with our customers, learning how they’re leveraging Nexus to optimize business and discovering how it’s helping them deliver measurable results. We also heard from speakers who left us with key takeaways - both for our professional and personal lives. Here’s a look at some moments we’re still thinking about.
1. Our keynote speaker on day one, Brad Montgomery, got us energized for two days of best practice workshops, sessions, speakers, panels, and events with an enlightening talk on Embracing our Awesomeness. He discussed how we all have hard exterior shells in business - this is how we survive. But we also have a soft chewy center buried beneath. He reminded us that - to engage that soft center - everybody needs to be told they're awesome. We need to pull people in and let them know how much we appreciate them. When we encourage someone and imbue them with some confidence, it serves as a little confidence dart. We often don’t throw these darts because we forget we have them, we don’t have time to do so, or because we forget how powerful they are. But we need to throw them because ‘we’re hitting the bulls eye even when we aren't.’
2. At our Navigating the Payments Landscape panel moderated by Nexus President & Founder, Jennifer Coolidge, Dave Frieder, SVP/General Manager of Commercial Payments at U.S. Bank, let us in on a tip regarding supplier payments. He said that organizations often don’t make a conscious decision about what payment mix or strategy is best for business; rather, they simply opt to use the same methodology that has traditionally been in place. What they should really do, he said, is to stop and think about what really works the best. It’s easy to convince oneself that these are just bills and they don't add up to something to worry about or pay much attention to. However, there are a host of efficiencies to be gained by optimizing payments. He recommended finding someone who can help you determine just what this means - reach out to industry consultants, peers, or Nexus. He suggested really taking the time to stop and consider the payments question by analyzing your data, looking at the facts, and speaking with your supplier base. Laying out what your priorities are can help you answer what approach will work optimally for you.
3. During The Value of Virtual Cards to Suppliers session, Anne Marie Louie and Mike Sahuto from Visa shared some supplier acceptance strategies with the audience. These included identifying your strategic suppliers first, and then targeting and engaging them. Supplier education and incentivization was another approach, as was formalizing the outreach process. The one takeaway they shared that’s still resonating with us is that a ‘no’ from a supplier on accepting Virtual Cards today doesn't necessarily equate to a ‘no’ tomorrow. When convincing suppliers to move to this alternative form of payment, persistence and repetition are key.
4. Day two’s keynote speaker, Manley Feinberg, spoke to us about the lessons he has taken away from adventuring through 25 countries and climbing innumerable challenging mountains and summits. He taught us about belaying which, in the climbing world, means using a rope system to protect a climber in the event of a fall. A belayer masterfully handles the rope and can be relied upon to catch a climber if need be. Manley spoke about how a belayer has to encourage you and ensure they don't give you too much slack because you could go too far and hurt yourself. At the same time, they cannot have the rope so tight that it prevents you from moving. Manley encouraged us to ‘Get on Belay’ and ask, ‘Who do I need on belay today?’ and ‘Who will I belay today?’ In other words, he urged us to make a meaningful, intentional connection with someone each day. You can pick the person - but make it outbound and specific - then reach out and let them know you’re thinking of them. By developing stronger relationships, we’re able to realize more of our own potential.
5. During our Product & Technology Road Map and Executive Panel, executives Tom Coolidge, Jennifer Coolidge, Julio Palacio, Lisa Williams, and Sud Luthra spoke about our company direction. As reflected in our new slogan - when people connect, technology works - Nexus is no longer just about automating a business process or an individual transaction or task. Rather, it’s about the common denominator - your suppliers, your business partners, all the people you’re interacting with to run your business. We’re making sure we’re delivering even greater value through allowing you to connect seamlessly with those people critical to your operations.
Schedule a demo today to learn how we’re going beyond automating invoices and payments and making it easier to create, maintain, and fortify the relationships at the heart of your real estate business.
*One bonus we’re still relishing - the amazing dancers at this year’s Thursday Night Party at NUC!