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| Release Date: Friday, February 13, 2009 | | | | Shorenstein Properties Chooses Nexus Systems to Automate Its Purchase-to-Pay Systems | | | Arlington, VA (February 13, 2009) Shorenstein Properties, one of the nation’s most highly respected and successful private real estate investment companies, has selected Nexus Systems’ best of breed accounts payables automation software, NexusPayables, to digitize and automate its purchase-to-pay process. After months of thorough evaluation including conversations with active clientele, Shorenstein chose Nexus Systems’ application and services to meet its business objectives. Nexus Systems believes Shorenstein’s evaluation to be one of the most detailed and thorough analyses of the marketplace and is honored to be selected by a company with such a reputation for operational efficiency. Like most progressive real estate companies, Shorenstein is actively implementing solutions that are proven to control spending and cut costs in its daily business operations and recognizes the accounts payable function as crucial in establishing and maintaining spending policies. The NexusPayables web-based A/P automation software centralizes management and control of the purchase-to-pay process. The application is built on a sophisticated workflow engine for approval routing including A/P specific modules and interfaces to the clients’ real-time accounting data. Purchase orders and invoices can be created or submitted electronically into the system and are then routed to the appropriate approvers by a wide variety of pre-defined rules. The system’s interface provides these approvers with detailed line-item information to ensure accountability and financial spending control. NexusPayables acts as an extension of Shorenstein’s general ledger accounting systems, supporting automated exchange of A/P financial and vendor data.
A key factor influencing Shorenstein’s selection of Nexus Systems is the functionality offered in the standard NexusPayables system setup, which can include electronic purchase orders, invoices and imaging modules as well as vendor and insurance management. Also, certain features of the application stand out including: ease of use and intuitive interface to incorporate GL code selection defaults, detailed and custom reporting, email notifications alerts, items on-hold functionality, duplicate item detection, property split defaults, templates for reoccurring items, user dashboard display, user delegations, user-based display settings and preferences, a comprehensive approval log, and administrative user tracking. Additionally, Shorenstein is evaluating using NexusPayables’ job costing integration features and NexusMobi, its mobile extension. About Shorenstein Properties LLC
San Francisco-based Shorenstein Properties LLC (www.shorenstein.com) is one of the oldest and most successful private real estate investment companies active throughout the United States in the acquisition, development, ownership and management of office and mixed-use properties. Since its beginning in 1924, the company has evolved from a regional real estate operating company to an active national investor and manager of commingled institutional capital. Since 1992, Shorenstein has sponsored nine closed-end real estate investment funds. Shorenstein’s substantial co-investment, integrated investment and operating strategy, and strong performance have positioned the company as an experienced leader in the value-added arena.
About Nexus Systems, Inc.
Nexus Systems, Inc. develops intuitive Web-based Software as a Service (SaaS) applications that drive business process efficiencies and business process accountability, focusing on the accounts payable realm. NexusPayables, Nexus Systems’ core product, solves a problem that affects all businesses, and represents billions in wasted costs to the U.S. industry. NexusPayables is a complete purchase to pay solution that integrates with and complements a company’s accounting GL and/or ERP system. The product automates the A/P approval process, improves cash flow visibility, manages budgets real-time, mitigates fraud, and reduces the time to process A/P transactions. Unlike document management software, NexusPayables was built to be sophisticated AP management software. Nexus Systems solutions enjoy continued success as a result of its robust functionality, scalability, user friendly configurations, and ease of use for clients.
For Immediate Release
Contact: Jennifer Shaw
jshaw@NexusSystems.com
703-524-9101 |
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