Once suppliers drop an invoice in the mail – or send via email – they’re often left to just hope it reaches the right destination. That’s why your AP team hears from them (sometimes repeatedly) wanting upda- tes on where things stand. They like knowing the status of their invoices and their money just as much as you do.
And this is no way to operate since, in real estate, key suppliers can make or break you.
Thus, it’s important that suppliers can self-serve and check the real-time status of their invoices and payments. If they can check that an invoice has been submitted, approved, paid, rejected, etc., there’s no “black hole”. With NexusConnect, suppliers can view their invoice status with just a few clicks.
Suppliers also need to know AP payment status throughout the entire payment lifecycle. And this knowledge helps you too. For example, if suppliers can log in to a portal, like NexusConnect, to check whether a virtual card payment has been issued but remains unprocessed or see that it is partially unprocessed (and grab the card info they need in seconds), or that a check has been sent, they’ll be able to take action immediately. They won’t wait at their inbox, or their mailbox (similar to how you don’t want to wait by the door for your pizza).
All of this visibility not only means that suppliers will be processing their payments on time, but it also ensures that they’ll want to work for you again, even if it means getting up in the middle of the night to fix an elevator.