Prevent Spend Creep
At large multifamily companies, with hundreds or thousands of properties, there are many people who can order supplies, from maintenance teams to property managers to procurement employees at headquarters.
While AP/procurement may have negotiated special rates with suppliers, some staff may not know about these lower rates. Others may think it’s easier to stop by the retail store to make their purchase or to just order online.
But those are surefire ways to spend lots of money on non-preferred brands, and on duplicate purchases.
With Nexus’s catalog feature, multifamily companies can centralize and consolidate their spend and limit it to their preferred brands and SKUs. Plus, they can make it easy – and fast – for every employee to leverage their pre-negotiated prices. These factors all work together to reduce cost in procurement.
Nexus can embed the catalogs of 30 national retailers, as well as catalogs from specialty and regional suppliers, into a buyer’s NexusPayables account.
Authorized users just select items from multiple catalogs and place them in one master shopping cart for easy check out. They can generate an electronic PO for approval – and also see if the purchases are within budget (for both the line item and property). If they’re not, they can add an over-budget note to the PO, before it’s approved.
After the purchase is complete, the invoice and purchase order are linked automatically. This saves keystrokes and time because vendors don’t always include PO numbers on their invoices.