An Integrated Payments Solution
Paying invoices is arguably the most important step in the payables process. Despite this fact, payments remain one of the most time and cost intensive elements of P2P. This is attributable to Real Estate’s reliance upon paper checks. Automating payments – this crucial final component – can give rise to many operational and financial benefits for both you and your suppliers.
Nexus provides an integrated payments solution within NexusConnect, our Real Estate specific supplier network. NexusConnect allows you to receive electronic invoices, send payments, and view real time payment data. All supplier enrollment and payment data flows seamlessly through your GL and NexusPayables systems. We also offer multiple payment methods that generate revenue, give you flexibility, and are attractive to a wide range of suppliers.
Payment methods include:
- Virtual Credit Card: secure, one-time use virtual card number
- ACH: direct payment between your bank account and the bank account of your supplier
- Outsourced check: paper checks that are printed and mailed by Nexus
Nexus allows you to outsource 100% of your AP payments, eliminate costly, inefficient manual processes, strengthen supplier relationships, and generate revenue.
With NexusConnect and Payments, Real Estate Organizations can:
- Drive operational efficiencies by eliminating paper checks and simplifying bank reconciliations
- Reduce supplier inquiries with real time payment status reporting
- Resolve unsettled supplier transactions with automatic escalations
- Strengthen supplier relationships by allowing them to better manage cash flow, receive payments faster, and access enhanced remittance data
- Improve your bottom line by eliminating manual processes and generating revenue from electronic payment methods