New Enhancements to Nexus eInvoice Service Help Accelerate Procure-to-Pay Cycles
Press Releases
September 13, 2022
Automated Electronic Payments – Come Out Ahead
Falls Church, VA March 31, 2022 – Nexus, the leader in AP automation and payments for real estate companies, has announced new enhancements to eInvoice - its bulk invoice submission service that helps speed up procure-to-pay cycles. The enhancements make it easier and faster for national suppliers to submit large volumes of invoices to their clients who use NexusPayables for electronic invoice processing.
With Nexus’s eInvoice service, suppliers electronically transmit one or multiple file(s) containing their invoices via application programming interfaces (APIs). Invoices are automatically directed to the appropriate Nexus client account, arriving with invoice number, property code, invoice total, and other details already coded. Clients just review and route these invoices through their invoice approval workflows within the Nexus software. Should buyers require an invoice image for auditing purposes, Nexus will automatically generate the necessary document.
The new enhancements to the eInvoice service enable suppliers to:
- Use additional digital formats to send invoice files to Nexus (JSON, XML, cXML)
- Include more custom fields in their invoice files
- Get set up with eInvoice faster
- Control how tax is applied
Suppliers receive confirmation of successful invoice file transmission in near real-time and can then track the status of these invoices – approved, paid, rejected, and others - in Nexus’s self-service portal, NexusConnect.
“Our eInvoice service is extraordinarily important to the buyer-supplier relationship because it helps speed up procure-to-pay cycles for large volumes of invoices,” said Jenn Taylor, Nexus’s chief customer officer.
Per Nexus data, the time-to-process an invoice submitted through Nexus’s eInvoice service is about 3 days, far below the nationwide average of 10 days for time-to-process an invoice.
“That speed benefits both buyers and their suppliers because it helps ensure goods and services will continue flowing uninterrupted,” Taylor said. “And that’s critical in today’s competitive real estate market.”
Should a buyer want to manage even more of their procurement within the Nexus software platform, they can also enable Nexus’s catalog and electronic purchase order functionality. And, then once goods are ordered, they can receive the invoice through the eInvoice service, enjoying straight-through processing.
Nexus counts some of the largest national retailers as eInvoice users. This translates to substantial savings for Nexus customers (buyers) who work with these suppliers, since they start receiving bulk invoices from these suppliers with minimal set up, and no originating paper invoices to manage.
Nexus also has an electronic solution for smaller suppliers who don’t use the eInvoice service to submit their invoices. These suppliers can upload their invoices with just a few clicks through NexusConnect, which transmits the invoice in near real-time to the clients’ accounts in NexusPayables for review and processing.
About Nexus
Nexus is the most trusted way for real estate companies to centralize and automate their procurement, invoice processing, and vendor payments. With just clicks, AP teams can manage the entire procure-to-pay process using Nexus’s highly customizable software platform. Visit https://nexussystems.wpengine.com.
