Arlington, VA (January 8, 2010) After a thorough evaluation of the market’s offerings, Rappaport has chosen Nexus Systems to streamline their accounts payable operations. Rappaport will strategically utilize the NexusPayables product to provide the automation and visibility necessary to lower invoice processing costs, and to maximize efficiency of approvals and accuracy of their procurement cycles. Steven Pugh, COO of Rappaport said “We were looking for a system that would support distributed invoice processing, allow regional offices to process A/P remotely, and produce large efficiencies achieved by not requiring PMs to drive to HQ to approve invoices…Nexus fit the bill.”
Nexus Systems is a leading provider of accounts payable (“A/P”) automation software and services. The NexusPayables complete electronic purchase to payment solution combines PO and invoice management, invoice imaging, and sophisticated workflow-initiated approval routing with line-item budget comparisons, general ledger cost allocations, job cost accounting features, 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.
The NexusPayables interface will be fully integrated with Rappaport’s MRI Software general ledger accounting/property management system for a seamless and completely automatic exchange of all necessary A/P data elements between the two systems. Rappaport, specializing in real estate ownership, property management, leasing and development, will apply the NexusPayables system to their large portfolio of retail space in shopping centers and mixed-use properties throughout the Washington, D.C. area. Some of the key criteria Rappaport used in selecting Nexus over other solutions was the product’s extremely user friendly interface design, tight integration with their MRI Software, and its ability to enforce spending control down to the line item level by displaying allocated budget vs. actual comparisons.
About The Rappaport Companies (www.Rappaportco.com)
The Rappaport Companies is a real estate company that owns and develops shopping centers and provides retail leasing, tenant representation, property management, construction management, development and consulting services for retail space in shopping centers and mixed-use properties throughout the Washington, D.C. Headquartered in McLean, Va., The Rappaport Companies’ portfolio totals more than 12 million square feet of existing and future retail space in urban and suburban locations owned by affiliates of Rappaport and by many local and institutional clients.
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