Commercial real estate accounts payable platform seller Nexus and property management software producer Entrata have integrated their services, the companies announced Tuesday (Oct. 13).
“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,” the companies stated in a news release.
By linking the two services, the companies said, customers 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.”
The announcement also states that pairing the offerings also will let customers “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,” Tom Coolidge, chief executive of Nexus, said in a prepared statement. “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.”
“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 of 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.”
Nexus and Entrata both serve multi-family, student housing, commercial real estate, mixed retail and senior housing, according to the companies.
On Sept. 14, Nexus unveiled a more robust payments infrastructure so clients could more easily implement automated-payments systems. The system is called NexusPayments.
In March, Nexus rolled out a new system to make it easier for companies to connect with their suppliers and streamline purchase orders.
Nexus is among a number of companies that seek to offer solutions to businesses wrestling with unstandardized data. The problem is particularly acute in accounts payable operations, which often must contend with a broad array of vendors that use a variety of invoicing systems and standards.
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