New NexusOne Solution Helps Real Estate Companies Save Time, Give Up Paper & Come Out Ahead
FALLS CHURCH, VA, April 12, 2021 – Nexus, the leader in Accounts Payable automation and payments for real estate, has launched a new AP software bundle to make it easier for multifamily, commercial, and other real estate companies to process invoices, give up paper checks, and transition to fast, secure electronic payments.
The NexusOne solution is designed for real estate firms that write 100 or more checks a month and want to shave days off their invoice and payments processing time. Startup is fast and requires minimal effort from the accounting team. Best of all, customers can add functionality as their needs grow.
“No one wants to be held back by paper, especially now that we are coming out of a pandemic and real estate is heating up,” said Thomas Coolidge, Nexus CEO. “We wanted to give AP teams the quickest way to transition to Nexus – and transform their AP.”
With the NexusOne, customers receive:
- Free and easy invoice ingestion
- Electronic invoice routing
- Automatic sync with system of record
- Easy vendor payments
With NexusOne, customers don’t have to open envelopes, scan invoices, or do data entry. They just have their suppliers submit invoices through Nexus’s self-service portal. Not only does this save customers time - about 8 hours or more a month - it also provides suppliers with peace of mind because invoice delivery is guaranteed, and status is always visible.
Customers can also reduce time on invoice review and approvals - often by as much as 50% - because everything happens online and automatically within the Nexus platform.
When invoices are ready for payment, all the customer has to do is batch and send them electronically to Nexus, which will pay their vendors through Nexus Virtual Card, ACH, or outsourced Nexus check. This can cut payment processing time by as much as 65%.
“Because Nexus has the largest network of real-estate connected suppliers, we can pay many suppliers with Nexus Virtual Card on Day One. That’s a big win for customers because virtual cards are the most secure payment method. They are also among the fastest,” Coolidge added.
Nexus has a track record for innovation in the real estate AP market. Just last month, it launched NexusDirect powered by Chase, which enables small suppliers and sole proprietors to get paid with Nexus Virtual Card (instead of paper checks). No POS equipment is needed because Nexus does the processing behind the scenes, on behalf of the supplier.
“Like NexusDirect, we see NexusOne as a win for both buyers and their suppliers. Everyone can enjoy the benefits of electronic payments, improve their productivity, and free themselves from paper,” Coolidge said.
While the NexusOne plan offers competitive pricing, customers can enjoy even greater discounts if they deploy electronic invoicing and payments within 30 days of signing, as part of Nexus’s FastStart promotion.
Nexus provides the fastest way for real estate companies to ditch paper checks and send secure payments to their suppliers. With its roots in AP automation, the 21-year-old software company has built the largest, validated community of suppliers serving multifamily, CRE, and other real estate segments. Using just clicks, real estate companies can connect to their suppliers and send them payment electronically. In addition to vendor payments, Nexus also offers a full procure-to-pay solution, designed for real estate.