Nexus, a leader in real estate accounts payable automation, today announced its payables and payments platform automatically integrates with Entrata property management software.
Nexus, a leader in real estate accounts payable automation, today announced its payables and payments platform automatically integrates with Entrata property management software. The two-way, fully automated integration provides customers of both companies with the data they need to manage their real estate spend expertly, while reducing time and money processing invoices and payments.
With data seamlessly synced, Entrata users can view up-to-date vendor data, budgets, and actuals from the Entrata platform, while using the Nexus AP automation platform to approve invoices, review statuses, issue electronic POs, generate payables reports, and even purchase goods and services from embedded supplier catalogs.
They can also use Nexus to send automated, electronic payments – directly from the Entrata platform. The payments data from Nexus then flows back to Entrata automatically.
“This is a huge advantage for our joint customers,” said Tom Coolidge, CEO of Nexus. “Entrata users will be able to make AP decisions with all the right data at their fingertips, using an AP automation system built exclusively for real estate.”
Both Nexus and Entrata serve multi-family, student housing, commercial real estate, mixed retail, senior housing, and other real-estate segments that receive thousands of invoices a month, all of which must be ingested, compared to budget, approved, and processed for payment.
Nexus supports multiple forms of invoice ingestion and can enable simple to complicated approval workflows, based on invoice amounts, required approvers, job code, and/or other factors. It adjusts quickly to the technology needs of its customers, using its 20-years of experience serving the real-estate space.
“Entrata’s platform is designed to provide customers with advanced, easy-to-use technology, with the flexibility to integrate third-party solutions,” said Chase Harrington, president and chief operating officer at Entrata. “We want to ensure they have the best possible options for running their businesses, which is why we’re pleased to integrate with Nexus, a well-recognized leader in the accounts payable space.”
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Indeed, many AP teams reduce invoice processing time by 65% when they deploy Nexus to automate their invoices. That’s because they no longer have to manually collate supporting documents, check budgets on spreadsheets, or walk invoices from desk-to-desk to get approvals. The process is all automated and visible.
At the same time, Nexus customers also reduce the risk of fraud by using the software’s audit trails and other digital safeguards that prevent duplicate and fraudulent vendor payments.
By adding NexusPayments, Entrata customers can just toggle a drop-down and send their payment batches to Nexus for automated, electronic payment. They can pay their suppliers with virtual card, ACH, or outsourced Nexus check. Payment will be issued almost immediately and will use the customers’ bank accounts to cover the payments and ease reconciliation. No interest or holds incurred.
The payments data is sent back to the Entrata platform. It’s also available in the Nexus portal for easy reconciliation.
Suppliers have said they prefer NexusPayments over other automated payment programs because Nexus provides a portal where they can easily check the status of their payments, view comprehensive reconciliation data, and get acknowledgement of invoice receipt.
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