Paper-based AP processesare long and labor-intensive. They involve a lot of paper shuffling to manually receiv eand processes invoices, get approvals, cut checks, and communicate with vendors. They alsohaveblind spots along the way that canlead to over-budget spend.
Hobson & Company, a leading return on investment (ROI) research firm, explored the time and cost savings realized by automating those paper processes with Nexus. It interviewed across a range of Nexus’s current retail, CRE, and multifamily clients, including those who had also used other automation solutions.
Based on its analysis, Hobson found that investing in Nexus software has a substantial payoff. By automating with Nexus, an average decentralized multifamily management company with100,000 invoices per year, 200 FTEs who participate in the AP process (whether it be submitting invoices, coding them, or processing them),and $7m in annual purchase orders would see a payback in 4.8months and generate an ROI of 201%.
This ROI was realized through the following 8 benefits:
Overall, the value of each benefit changed depending on the volume of invoices, the number of FTEs, the number of purchases (if applicable), and the use of NexusPayments for paying vendors (if applicable).