Arlington, VA, October 29, 2010 — Nexus Systems, a provider of accounts payable automation solutions, today announced its first Asia Pacific client, Australand, to add to its long list of companies currently utilizing its NexusPayables system. Australand is one of Australia’s major diversified property groups and has selected NexusPayables to centralize accounts payable operations throughout its many dispersed office locations in Australia.
The NexusPayables web-based solution creates a centralized system for Australand to electronically streamline routing for approval and processing of all purchase orders and invoices. Australand will capitalize on the system’s comprehensive reporting to easily report across all locations; role-based dashboards to assist users in managing their system related tasks; and time and date stamp audit trail function to ensure transparency.
NexusPayables is a complete electronic purchase-to-payment solution combining PO and invoice management, invoice imaging, and sophisticated workflow-initiated approval routing with line-item budget comparisons, general ledger cost allocations, job cost accounting features, and flexible reporting tools. NexusPayables is the best of breed application in use by companies that require the expense management control, visibility, efficiency and cost savings associated with accounts payable automation and best practices.
According to Jason Stevens, General Manager of Finance for Australand’s Investment Property Division, “We selected NexusPayables to seek out a mature, robust, and proven AP system to replace our traditional paper-based AP process as part of our division’s initiatives to improve efficiency, accuracy and timeliness throughout our national business. We were impressed with its overall performance and its ease of integration with our existing accounting system, MRI Software. Furthermore, we value the product’s workflow approval capability to support Australand’s delegations of authority as well as its scalability to support the Investment Property Divisions’ national platform.”
“We are honored to be chosen by Australand to assist in optimizing its AP operations. AP is one of the busiest and error prone business processes. We’ve built NexusPayables to tackle these challenges and help companies like Australand streamline the AP process to gain efficiency and cost savings benefits,” said Thomas Runyon, Vice President of Sales for Nexus Systems
About Australand (www.australand.com.au)
Australand is one of Australia’s major diversified property groups, with activities across Australia covering development of residential land, housing and apartments, development of and investment in income producing commercial and industrial properties, and property management.
Australand has been involved in property development for more than 80 years and Australand has progressively widened the scope of its activities to satisfy the needs of an ever changing and more sophisticated client base.
Australand has three operating divisions being Commercial & Industrial, Residential and Investment Property. It employed 540 people as at 30 June 2010. Its operations are located in Sydney, Melbourne, South East Queensland, Adelaide and Perth and a sales office in Hong Kong servicing the Asian market. As at 30 June 2010, the Investment Property division had a total portfolio value of $2 billion with 69 properties, including 2 properties under development and 1 property held for sale. The portfolio had a total lettable area of 1.1 million sqm and included a total of 168 tenancies.
As at 30 June 2010, Australand had a market capitalization of approximately $1.4 billion. Its major security holder is the Singapore based property group, CapitaLand Limited, which owns approximately 59% of the issued capital.
About Nexus Systems, LLC.
Nexus Systems is the leading provider of electronic solutions that automate the traditionally cumbersome paper-intensive purchase to payment process resulting in the reduction of operating costs and faster invoice processing with tighter controls. Nexus Systems’ product and services greatly aid financial management by automating and centralizing systems through scanning, electronic workflow, approval routing, and budget controls of PO and invoice management. Nexus’ best-in-class solution, NexusPayables, enjoys continued success as a result of its mature in-depth functionality, intuitive interface, user friendly configurations, and overall ease of use for clients.
For Immediate Release
Contact: Jennifer Shaw