Tarrytown, NY (January 27, 2006) – Nexus Systems today announced that DLC Management Corp., one of the fastest growing private retail Real Estate Companies in the US, has completed its deployment of Nexus Systems’ e-invoicing solution, NexusPayables, for its entire portfolio. DLC decided to automate its expense invoicing process in late 2005 and proceeded to perform a thorough evaluation of the e-invoicing solutions available for large national real estate companies.
DLC’s goal was the reduction of paper and the ability to locate, access, approve and retrieve expense documentation online from anywhere at anytime to greatly simplify their AP operations. The online access and reporting of property expenses attracted them because it would relieve the traditionally cumbersome process of CAM billings. In addition, improved budget and actual information in real time on the AP side, combined with a powerful approval workflow, would allow tighter expense controls and provide insight for the budgeting process. DLC believed that, with e-invoicing, its labor efficiency will continue to improve as the company continues to grow. DLC feels strongly that NexusPayables therefore will continue to provide benefit at an exponential rate.
After extensive analysis of e-invoicing solutions, DLC selected NexusPayables because of its ease of use, its proven integration with the IRES G/L accounting system, and the breadth and power of its functionality. In addition, DLC received strong recommendations from multiple Nexus Systems clients who had used competitive products and had switched to NexusPayables. After selection in mid-November, Nexus Systems and DLC immediately proceeded with system implementation and deployment in order to get them up and running by the beginning of the new year. Nexus Systems trained DLC’s staff in regional training sessions and they started using NexusPayables shortly thereafter.
According to William Comeau, DLC’s Senior Vice-President & Chief Financial Officer, “We chose NexusPayables because of its ease of use and the depth of functionality in the product. We discussed the product with several other companies in our industry that had experience with NexusPayables, as well as competing products, and all validated our assessment. The Nexus Professional Services team went out of their way to help us through the deployment process and we strongly feel that our decision to go with Nexus Systems was the right one”.
Thomas Runyon, Nexus Systems’ Sr. Director of Sales adds “DLC’s forward thinking and understanding of e-invoicing is assuring that they stay ahead of their competition. Removing the paper trail and adding strict workflow rules and control allows for increased revenue and decreased AP processing time.”
About DLC Management Corp.
Formed in 1991, DLC is one of the nation’s preeminent owners and operators of shopping centers. Their portfolio includes ten million square feet of attractive retail space and continues to expand as we complete additional acquisitions. As a privately held company, DLC takes a long-term approach to managing shopping centers, seeking to create and deliver extraordinary value by fostering strategic relationships with our tenants, communities, partners and investors.
With over 200 years of senior management experience, DLC knows what it takes to successfully operate shopping centers through up and down cycles in real estate, credit market and retailing environments. DLC maintains expert in-house capabilities to support all critical real estate, financial, legal and reporting services, guided by a hands-on, proactive management style. For more information on the company, please visit www.dlcmgmt.com.
About Nexus Systems, LLC.
Nexus Systems, located in Arlington, Virginia, is a leading business process software company specializing in payables management solutions. Our software product, NexusPayables, automates the payables process by e-invoicing, scanning, electronic approval routing and PO & invoice management. Nexus Systems solutions are in use by companies that want the efficiency, flexibility and cost savings associated with the automation of business management processes. More information on Nexus Systems can be found at www.nexussystems.com
For Immediate Release
Contact: Thomas Runyon