For Suppliers Now’s the Time to Ditch Paper Checks Use Nexus’s automated business payments software to pay suppliers/vendors: Reduce AP payments time by 50% Reduce AP payments costs by 40% Earn rebates from your business spend Issue AP Payments Quickly & Easily Use NexusPayments software to pay your suppliers/vendors with just a few keystrokes. It’s simple to use, secure, and designed specifically for multifamily and CRE companies. Whenever you’re ready, simply generate a file of approved invoices in your property management system and submit it to Nexus. Your designated approvers can then review/approve the transactions for immediate payment, using Nexus Virtual Card, ACH or Nexus outsourced check. You’ll shave 50% off your time paying suppliers/vendors because there’s no envelopes to stuff. You’ll also reduce business payments cost by 40% – no printer ink, postage, and envelopes needed. Nexus Gets Your Suppliers on Board With a Payment Method Nexus will tap its large supplier community to find all your vendors who already accept Nexus Virtual Card. We’ll also reach out to the remainder and encourage them to accept this secure payment method that also generates rebates. Any suppliers/vendors that can’t accept virtual card will be offered another type of e-payment, so you can stop cutting checks. Thousands of suppliers/vendors working for real estate companies use Nexus payments. Additionally, many of your vendors already accept Nexus Virtual Card as their default payment method and can accept it from you on Day 1 Forget Set Aside Accounts and Hidden Fees Nexus processes payments immediately – and directly debits funds from your bank accounts. There’s no interest charged before money is sent to vendors. Add New Bank Accounts Without Hassle Just add your bank details in NexusConnect. We’ll verify the account has been set up correctly and is ready to fund your business payments. Pay Any Supplier Invoice – Even if Processed Outside of Nexus Use NexusPayments to pay any vendor invoice, even if a particular invoice wasn’t processed/approved through Nexus AP automation. Reconcile Your AP Payments with Ease Whether Nexus pays your suppliers/vendors with virtual card, ACH, or check, it’s simple to reconcile your bank statements. Just login to NexusConnect and match debit totals with debits on your bank account statements. Drill down to see individual transaction amounts. You can cross-reference with your GL. If Nexus issues checks on your behalf, we’ll use the same check numbers that are in your GL. No cross-referencing or extra steps needed. Just log in to NexusConnect and click the Bank History page. Easily filter by Bank ID, Debit Type, or Status (A). Match Debit Total (B) with debits on your bank account statement, drilling down to see individual transaction amounts (C). Cross-reference transactions with your GL. Lower Your Risk of Fraud Nexus Virtual Cards offer exceptional fraud protection. They’re funded for a specific amount and cover a pre-designated transaction (or transactions). They also expire in 90 days. So, even if a virtual card were to fall into the wrong hands, it’s not likely to be misused. Virtual cards made up only 3% of targeted payment fraud versus 74% of checks *2020 AFP Payments Fraud & Control Survey – Companion Webinar. Make AR Easier for Your Suppliers Faster Payments Nexus processes payments immediately. Electronic payments reach suppliers/vendors in just a few days. Visibility into Payment Status Suppliers can track payment status online 24/7 using the NexusConnect online portal. Guaranteed Payments Nexus virtual cards are backed by Visa. You’re covered in the rare event that the supplier/vendor is hacked and funds are stolen. Improved Reconciliation Suppliers get complete remittance details in each virtual card notification email. They can also see details in NexusConnect. CASE STUDY Shaving Payments Time From 12 Hours to 1 Hour Per Week Tanger Factory Outlet Centers, Inc., one of the nation’s top outlet center developers and operators, had to cut 1,500 checks each month to pay all the vendors associated with its 38 outlet centers across 20 states. This was an enormous undertaking, especially for a lean 2.5-person AP team. Read how Tanger: Reduced its time to cut checks and reconcile payments from 12 hours a week to under an hour Provided suppliers with easy tracking Tanger Outlets turned to NexusPayments AP Payments FAQ What are the benefits of automating my supplier/vendor payments? How does Nexus pay suppliers/vendors? Will my suppliers/vendors accept automated electronic payments, like Nexus virtual cards? Will suppliers/vendors increase the rates they charge me if they accept virtual card as a payment method? Do I have to automate all my supplier/vendor payments? Will I have to spend more time on reconciliation? What visibility into payments – and their details – will my suppliers/vendors have? How quickly will my suppliers/vendors get paid? Are electronic business payments, like virtual card and ACH, safe? Can I automate just my supplier/vendor payments, without automating invoice processing too? QUICK LINKS Platform Overview Request a Live Demo Contact Us ABOUT US About Us News Blog SUPPLIERS Supplier Self-Service Sign Up for NexusConnect Copyright © 2020 Nexus Systems, LLC | All Rights Reserved Contact Us | Sitemap | Privacy Policy LinkedIn Contact Us