NexusConnect is an AP supplier portal and one of the most valuable features of the Nexus AP automation platform. It helps both buyers and their suppliers eliminate a lot of time, frustration, and back and forth.
It functions sort of like an online café where AP teams and AR teams can meet up and transact. But, unlike its real-life counterpart, there are no lattes to spill nor baristas who get your order wrong. It’s all self-service.
NexusConnect Serves Two Audiences
- AP managers who often work for multifamily, CRE and other real estate companies (buyers).
- AR managers, or other employees, at companies that provide goods and services to those buyers’ properties (suppliers).
The suppliers upload their invoices into NexusConnect, which then transmits invoices directly to the buyers’ accounts in NexusPayables. At that point, the buyers can review and process these invoices.
Suppliers can also use the NexusConnect AP supplier portal to view their payments from Nexus buyers who use NexusPayments.
Buyers, meanwhile, use NexusConnect to view their connected suppliers, receive their invoices, and pay them.
Shared View of Data
All NexusConnect users – buyers and suppliers – have a shared view of data. So, at any point day or night, everyone can see where everything is in the AP/AR process. This includes everything from invoice status to payment status.
Participation is seamless too. Buyers can invite all their suppliers to use the AP supplier portal by simply providing them with an invite code. Or, a supplier can send a buyer a request to connect (similar to LinkedIn) for buyer approval. There’s no fee for supplier participation.
Thus, the portal makes AP and AR more streamlined and visible. Here are some additional benefits: