Digitize Your Paper Transactions with Suppliers
With NexusConnect, an online platform used by thousands of real estate-focused suppliers, you can manage and transact using clicks – not calls or paper.
You’ll be able to:
- Receive invoices into NexusPayables from NexusConnect
- Send electronic POs and payments
- Automatically vet new suppliers
- Validate if suppliers meet your insurance requirements
Reduce Manual Invoice Entry and Increase Efficiency
Bypass the Office: Receive Invoices Directly into Your NexusPayables
Free your teams from opening envelopes, scanning invoices, and manually entering data.
Using NexusConnect, suppliers can upload their invoices, add a few details (invoice amount, invoice number, location, and notes) and send them directly to your NexusPayables account. The invoice(s) is transferred in near real-time and delivery is guaranteed.
Your team can then accept or reject the invoice, and also update any inaccurate data entered by the supplier.
Eliminate the Back and Forth Phone Calls
Instead of picking up the phone, suppliers can log in to NexusConnect to view whether their invoice is approved, paid, rejected, or on hold. They’ll have access to answers they need, when they need them.
Enhance Security and Controls
Control Who Connects
Before suppliers can send you invoices or transact with you on NexusConnect, they must first get your approval. They can:
- Send a connection request, using NexusConnect
- Input an invite code, which you provide
Enjoy Automatic Vetting
For greater security, Nexus will automatically check suppliers’ data against the Office of Foreign Assets Control (OFAC) list to verify that suppliers aren’t on a terrorist watch list. This check occurs when suppliers are setting up the account.
NexusConnect will also automatically validate a supplier’s contact information – and if the data doesn’t match up, a warning message pops up on the screen.
Pay Suppliers Remotely and Electronically
With NexusConnect and NexusPayments, you can pay your suppliers without ever going into the office – or sending your suppliers there.
Nexus will handle all your supplier payments – and debit the money directly from your bank accounts.
You’ll save lots of time and money – because you’ll greatly reduce material costs like paper stock, ink, envelopes, and postage associated with paper checks as well as the time to cut and send those checks.
Suppliers can view their payment statuses in NexusConnect for any payments made through NexusPayments.
Manage Different Types of Transactions
Send Purchase Orders for Approval
Send electronic POs to your suppliers – who can approve or reject them in NexusConnect. Then, they can send it back to your NexusPayables account. All with a complete audit trail.
Mange Supplier Insurance Documentation
Enable suppliers to submit insurance policies in NexusConnect and send them directly to your NexusPayables account. You can then approve or deny them.
Suppliers will receive automated warnings when their policy is about to expire, and NexusPayables will alert you if a supplier’s policy has lapsed.
Improve Supplier Relationships
Suppliers will thank you for enabling NexusConnect because it reduces their manual processes, lets them work remotely, and even helps them get paid faster.
Enjoy Quick Adoption
Since Nexus is focused primarily on real estate, a lot of your suppliers may already use NexusConnect to transact.
Plus, getting their buy-in is easy. In a recent Nexus survey, suppliers reported there were many benefits to using a portal, including faster payment and guaranteed invoice delivery.
|Benefits of Using an Online Portal|
|Speed of payment||31.8%|
|Acknowledge receipt of invoice||19.9%|
|Knowing the status of invoices in your customer’s system||17.1%|
|Connecting to multiple customers in one place||9.4%|
|Elimination of paper||7.3%|
|Access from anywhere||6.3%|
|Better customer relationships (awkward calls avoided)||4.9%|
|Storage of ancillary documents required for doing business||2.4%|
|Better insights and controls (forecasting and budgeting)||0.7%|