Arlington, VA (December 11, 2009) Nexus Systems, a leading provider of accounts payable automation software and services, is pleased to announce that Tanger Factory Outlet Centers, Inc. (“Tanger”) has implemented its flagship product, NexusPayables, to automate its accounts payable (“A/P”), purchase order (“PO”), and invoice process. The NexusPayables system is fully integrated with Tanger’s IRES/MRI accounting platform.
The NexusPayables complete electronic purchase to payment solution combines a full PO module, invoice imaging, and sophisticated workflow-initiated approval routing with line-item budget comparisons, general ledger cost allocations, and flexible reporting tools. NexusPayables is the best of breed application in use by companies that require the expense management control, visibility, efficiency and cost savings associated with accounts payable automation and best practices.
Tanger understands and appreciates the impact A/P automation efficiency has on its bottom line. Prior to discovering the powerful capabilities of the NexusPayables system, Tanger has been a forerunner in seeking efficiency in its A/P operations. Previously, they had implemented another A/P automation system and then went on to build their own integrated PO module. Neither of the systems entirely succeeded in providing them with the functionality and control that management desired and needed. They have now upgraded their systems by replacing them with one complete best in-class solution, NexusPayables, to satisfy all their functionality and control requirements. Specifically, Tanger is utilizing NexusPayables’ automated three-way matching functionality to best associate invoices to its related purchase orders and receipt of goods/services counterparts.
About Tanger Outlets (www.TangerOutlets.com)
Tanger Factory Outlet Centers, Inc. (NYSE:SKT), is a fully integrated, self-administered and self-managed publicly traded REIT. The Company owns and operates 33 outlet centers in 21 states coast to coast, totaling approximately 9.2 million square feet of gross leasable area. Tanger is celebrating over 28 years as a leading developer of manufacturer’s outlet centers with the nation’s premier brand name and designer outlet stores. Each store sells first quality, in-season merchandise as well as inventory overruns, slightly imperfects, and prior-season merchandise at a substantial savings to the consumer. These “manufacturer” operated centers have become tourist destinations for millions of shoppers looking for quality name-brand merchandise at good prices. In 2008, Tanger welcomed over 150 million shoppers to their centers.
About Nexus Systems, LLC.
Nexus Systems is the leading provider of electronic solutions that automate the traditionally cumbersome paper-intensive purchase to payment process resulting in the reduction of operating costs and faster invoice processing with tighter controls. Nexus Systems’ product and services greatly aid financial management by automating and centralizing systems through scanning, electronic workflow, approval routing, and budget controls of PO and invoice management. Nexus’ best-in-class solution, NexusPayables, enjoys continued success as a result of its mature in-depth functionality, intuitive interface, user friendly configurations, and overall ease of use for clients.
For Immediate Release
Contact: Jennifer Shaw