Now Is the Time to Ditch Paper Checks
Switch to Nexus’s AP Payments Automation software and shave 50% off payment processing time.
Now Is the Time to Ditch Paper Checks
Switch to Nexus’s AP Payments Automation software and shave 50% off payment processing time.
AP Payments Automation Software Trusted by Top Real Estate Companies
NexusPayments is the leading AP Payments Automation software for multifamily, CRE, and other real estate companies. With just clicks, you can manage every step of the payment process online, from approval to payment. No matter how many vendors you have.
Whenever you’re ready, simply generate a file of approved invoices in your property management system. Designated approvers review the transactions in NexusConnect and give Nexus the green light to issue payments.
Nexus will then debit your bank accounts and pay vendors using Nexus Virtual Card, NexusDirect, ACH, or Nexus outsourced check.
Pay Suppliers with the Widely Accepted Nexus Virtual Card
With AP payments automation, you can stop writing paper checks on Day One. Nexus will conduct a search of its extensive supplier network to identify every one of your suppliers who already accepts the Nexus Virtual Card and set them up to accept it from you.
We’ll also reach out to the remainder and encourage them to accept this secure payment method that generates rebates for you.
Many of your vendors already accept Nexus Virtual Card as their default payment method and can accept it from you as soon as you launch NexusPayments.
Lower Your Risk of Fraud
Nexus Virtual Cards offer exceptional fraud protection. They’re funded for a specific amount and cover a pre-designated transaction (or transactions). They also expire in 90 days. So, even if a virtual card were to fall into the wrong hands, it’s not likely to be misused.
Virtual cards made up only 3% of targeted payment fraud versus 66% of checks
*2022 AFP Payments Fraud & Control Survey
Easily Manage Bank Accounts Used for AP Payments Automation
Add New Bank Accounts
Without Hassle
Add your bank accounts to NexusConnect. We’ll verify the accounts have been set up correctly. No fees to add or change banks.
Add New Bank Accounts
Without Hassle
Add your bank accounts to NexusConnect. We’ll verify the accounts have been set up correctly. No fees to add or change banks.
Forget Set Aside Accounts
and Hidden Fees
Once you say go, we’ll processes payments immediately – and directly debit funds from your linked bank accounts. No interest charged.
Forget Set Aside Accounts
and Hidden Fees
Once you say go, we’ll processes payments immediately – and directly debit funds from your linked bank accounts. No interest charged.
Maintain Your Banking
Relationships
Nexus can debit any bank account to issue supplier payments. So, you can keep your banking relationships intact, no matter how many banks you have.
Maintain Your Banking
Relationships
Nexus can debit any bank account to issue supplier payments. So, you can keep your banking relationships intact, no matter how many banks you have.
Nexus Works Seamlessly with These GLs, Plus Many Others
Quickly Reconcile Your AP Payments
Whether Nexus pays your suppliers/vendors with virtual card, ACH, or check, it’s simple to reconcile your bank statements. Just login to NexusConnect and match debit totals with debits on your bank account statements. Drill down to see individual transaction amounts. You can cross-reference with your GL.
If Nexus issues checks on your behalf, we’ll use the same check numbers that are in your GL. No cross-referencing or extra steps needed.
Simplify AR for Your Suppliers
Faster Payments
Nexus processes payments immediately. Electronic payments reach suppliers/vendors in just a few days.
Visibility into Payment Status
Suppliers can track payment status online 24/7 using the NexusConnect online portal.
Guaranteed Payments
Nexus Virtual Cards are backed by Visa. You’re covered in the rare event that the supplier/vendor is hacked and funds are stolen.
Improved Reconciliation
Suppliers get complete remittance details in each virtual card notification email. They can also see details in NexusConnect.
There are many:
- Lowers your payments costs – By automating your vendor payments with Nexus, AP payment costs often drop by 40% because you don’t have to pay for printers, postage, ink, and many other expenses associated with getting checks out the door.
- Saves time – Nexus customers report they shaved off 50% of their time over manual payment processing because documentation and approvals are centralized and online – and any action only requires a few clicks to complete.
- Increases security – Electronic payments, such as Nexus virtual card and ACH, are far more secure than checks (see below).
- Increases visibility for both you and your suppliers – Payment status is visible online 24/7 in NexusConnect.
No. You can choose whom you pay electronically. For example, if you have a vendor that likes to stop at the boss’s office to chit chat and receive their check, you can still do so. You choose whom you pay through Nexus and whom you pay in-house. But keep in mind, the more suppliers you pay electronically, the more time and cost savings you’ll achieve (not to mention rebates you’ll earn).
Yes. You can start with automated vendor payments only. However, there’s a lot more functionality when you automate payments and invoices together, such as the ability to see the full invoice that you paid or are about to pay.
Nexus will pay suppliers on your behalf using Nexus Virtual Card, NexusDirect, ACH, or outsourced check. Virtual card and NexusDirect are the fastest of all the options and can generate rebates that can cover licensing fees. Nexus processes the payments immediately; it doesn’t use a sweep account to centralize the funds.
Moreover, suppliers trust Nexus. They can see all their payments online with NexusConnect. And whenever they need support, Nexus has a team ready to help.
Per Patrick Lambert, Owner of Haul Gone LLC, “[Nexus] customer service is Top Notch. [They’ve been] instrumental in helping us during initial set up and have been a great source of knowledge with our occasional queries. We are happy with NexusConnect and give them a 5 Star rating.”
While we’ve heard of some rare instances of suppliers raising rates, we know it’s not a widespread practice. Most simply consider any virtual card fees they incur as a normal cost of doing business.
Some Nexus customers even make electronic payments – Nexus Virtual Card and ACH – mandatory for their suppliers.
Nexus has an industry leading self-service portal, NexusConnect, where suppliers can easily check both invoice and payment details – at no cost. Nexus customers report that calls and emails from suppliers decrease by about 75%, thanks to all the information available in the self-service portal.
Nexus initiates payments to your suppliers as soon as you have approved them for disbursement. We don’t put them in set-aside accounts or charge interest. Secure electronic payments are in suppliers’ hands in just a few days. Check payments are mailed the following business day.
