B2B Payments

Procure-To-Pay Software Provider Nexus Rolls Out NexusConnect

B2B supplier payments

To make it simpler for fully vetted suppliers to transact digitally as well as securely with connected buyers, procure-to-pay software company Nexus announced that it rolled out its NexusConnect enhanced online supplier platform.

Nexus President and Chief Innovation Officer Jennifer Coolidge said in the announcement, “We built the enhanced NexusConnect platform with feedback from both our buyers and suppliers, keeping everything they liked, while improving overall usability and increasing security and vetting.” Coolidge added, “More features and functionality are coming shortly, too.”

Suppliers can send invoices to clients of Nexus via the NexusConnect platform. They can also manage purchase orders as well as insurance documentation in addition to tracking payments from buyers who tap into NexusPayments. According to the company, “Buyers, meanwhile, gain peace of mind knowing that suppliers are fully vetted — and are who they say they are — before they are allowed to connect and transact through the platform.”

NexusConnect validates the company name, address, contact information and TIN of a supplier prior to the time that they are allowed to link up with buyers and send invoices to them. A warning message is displayed on the screen if a supplier’s data does not match up. Suppliers’ data is also checked automation against the list of the Office of Foreign Assets Control (OFAC).

In separate news, Nexus was growing its partnership with MRI Software to integrate supplier payment functionality within the real estate solutions of MRI per news in December. The accounts payable (AP) solution provider revealed plans to connect MRI Software customers to AP functionality, letting users to pay their suppliers via check, ACH or Nexus Virtual Card while supporting custom payment terms.

The payment functionality is an expansion upon an existing integration in which MRI clients tap into the AP technology of Nexus to procure products digitally. Nexus CEO Thomas Coolidge said at the time, “This is a huge advantage for our joint customers.”

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