Nexus Pulls AP Tech Into Real Estate

Nexus Systems is partnering with a real estate technology company to help the industry adapt to more sophisticated accounts payable and procurement processes.

Reports Thursday (Nov. 17) said Nexus is teaming up with MRI Software to develop an AP and procure-to-pay solution fit for the real estate sector. To be dubbed MRI AP Automation, the new solution can automate and digitize the accounts payable process for MRI clients across Canada, South America, EMEA, Asia and New Zealand.

Accounting teams in real estate firms can use the tool to automate procurement. The firms said the solution supports multiple points in the procurement process, including on-site purchasing, purchase order and invoice management, data capture, vendor compliance and reporting.

“This new product extends our promise of innovation and investment to our clients operating outside the United States,” explained MRI Software Chief Executive Officer Patrick Ghilani in a statement. “MRI AP Automation Powered by Nexus Systems leverages the flexibility and openness of MRI’s flagship Version X property management platform to deliver true interoperability and a unified user experience across two enterprise software platforms.”

Nexus’ partnership with MRI Software follows just weeks after the company secured $28 million in funding from Mainsail Partners.

In an interview with PYMNTS following that funding, Nexus Chief Executive Officer Tom Coolidge said that procurement can be a challenge, describing the space as like “those old westerns where people ride out with their horses and flags to a spot of land and stake their claims.”