Falls Church, VA, August 23, 2022: A new Nexus survey shows that NexusPayments, an automated payments solution built for the real estate industry, has evolved into more than just a critical time saver and job aid. It has become a tool to increase job satisfaction for accounting and accounts payable (AP) teams.
In a poll of CFOs, controllers, and AP managers who use NexusPayments, 87% said NexusPayments increases their team’s job satisfaction because they don’t have to manually cut as many paper checks and instead manage the vendor payments process online. 43% of the surveyed group also said they see NexusPayments as a tool to attract AP talent now or in the future.
“Employees are used to automation in their daily life and don’t want to settle into a job where there’s mundane, repetitive tasks that could be automated,” said Jennifer Coolidge, president of Nexus. “With NexusPayments, companies can hire employees to work on meaningful projects that enhance their skills, while still managing the essential process of paying vendors timely and accurately.”
The Nexus survey – conducted from August 8-15, 2022 – is timely because of today’s tight labor market particularly for accounting roles. According to a trend study by Robert Half, there’s significant demand for finance and accounting staff. The study reported that about 48% of accounting and finance managers plan to hire for new roles, and 39% plan to hire for existing roles, between July and December 2022. 87% percent in the Robert Half study said that it is challenging to find skilled professionals.
Most multifamily, mixed-use, retail, commercial, and other companies in the real estate sector have at least one full-time employee to pay 100 to 1,000s of vendors each month. When performed by hand, these check runs can require up to a full day or more to process.