Arlington, VA (October 8, 2009) Canadian Real Estate Investment Trust (“CREIT”) has chosen Nexus Systems to streamline its complete accounts payable operations including the workflow and management of its purchase order (“PO”) processing.
Nexus Systems is a leading provider of accounts payable (“A/P”) automation software and services. The NexusPayables interface will be fully integrated with CREIT’s Oracle JD Edwards EnterpriseOne platform for a seamless exchange of all necessary A/P data elements between the two systems. The Toronto-based firm will apply the NexusPayables system to its large and diverse portfolio of retail, office, and industrial properties.
The NexusPayables complete electronic purchase to payment solution combines 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.
CREIT focused its search on a robust and complete PO and invoice workflow solution to complement its Oracle JD Edwards EnterpriseOne system. After a thorough assessment of the market’s offerings, CREIT recognized that the NexusPayables system was the choice to satisfy its business requirements. Some of the key criteria in selecting Nexus over other solutions were product ease of use, flexible technical implementation and ability to configure custom workflows.
CREIT appreciated that the NexusPayables solution was a straightforward, central A/P management solution for all its PO and invoice processing needs that seamlessly integrate with their existing Oracle JD Edwards ERP. CREIT will strategically utilize NexusPayables to provide automation, and visibility necessary to lower PO and invoice processing costs, and to maximize efficiency of approvals and accuracy of their procurement cycles.
About CREIT (www.creit.ca)
CREIT is listed on the Toronto Stock Exchange (TSX) as REF.UN. It is a real estate investment trust focused on accumulating a portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to Unitholders. CREIT owns and manages a portfolio of properties diversified in three asset classes across Canada. Diversification provides CREIT with the ability to mitigate its portfolio risk across various product types and various tenants. The primary benefit is a reliable and, over time, increasing monthly cash distribution. CREIT owns a portfolio of over 160 retail, office, and industrial properties comprising more than 18 million square feet of leasable space. Its assets have grown from CDN$84 million in December 1994 to CDN$2.2 billion in December 2008.
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