NexusPayments Increases Job Satisfaction for Accounting Teams and Helps Attract New Talent
Nexus study finds its electronic vendor payments solution helps real estate companies increase their teams' job satisfaction because they don't have to manually issue paper checks (Source: Nexus)
FALLS CHURCH, Va., Aug. 23, 2022 /PRNewswire-PRWeb/ -- A new Nexus survey shows that NexusPayments, an automated payments solution built for the real estate industry, has evolved into more than just a critical time saver and job aid. It has become a tool to increase job satisfaction for accounting and accounts payable (AP) teams.
In a poll of CFOs, controllers, and AP managers who use NexusPayments, 87% said NexusPayments increases their team's job satisfaction because they don't have to manually cut as many paper checks and instead manage the vendor payments process online. 43% of the surveyed group also said they see NexusPayments as a tool to attract AP talent now or in the future.
"Employees are used to automation in their daily life and don't want to settle into a job where there's mundane, repetitive tasks that could be automated," said Jennifer Coolidge, president of Nexus. "With NexusPayments, companies can hire employees to work on meaningful projects that enhance their skills, while still managing the essential process of paying vendors timely and accurately."
The Nexus survey – conducted from August 8-15, 2022 – is timely because of today's tight labor market particularly for accounting roles. According to a trend study by Robert Half, there's significant demand for finance and accounting staff. The study reported that about 48% of accounting and finance managers plan to hire for new roles, and 39% plan to hire for existing roles, between July and December 2022. 87% percent in the Robert Half study said that it is challenging to find skilled professionals.
Most multifamily, mixed-use, retail, commercial, and other companies in the real estate sector have at least one full-time employee to pay 100 to 1,000s of vendors each month. When performed by hand, these check runs can require up to a full day or more to process. By using NexusPayments:
- 23% of the Nexus survey respondents say they save 1 hour per week
- 49.4% of the Nexus survey respondents say they save a few hours per week
- 10.5% of the Nexus survey respondents say they save one day a week
- 17.1% of the Nexus survey respondents say they save several days per month
With NexusPayments, Nexus debits money directly from the clients' bank accounts and then pays vendors on the client's behalf, using either a secure Nexus Virtual Card, ACH, or outsourced check. The payment info is available online – for both buyers and their suppliers - in the Nexus self-serve portal, NexusConnect.
"NexusPayments has given time back to me, my team, and my department. We're more efficient and effective in our daily, weekly, and monthly duties. The software has allowed us to reevaluate how we do other things in our department and enabled us to take on more duties and do them better," said Sue Roberts, AP manager for Habitat America.
NexusPayments also enables AP teams to work efficiently, away from their office. More than 85% of those surveyed said NexusPayments has enabled their team to do all or some of their work remotely. Flexible work is critical to keeping and attracting employees. According to a recent SHRM survey, over 48% of employees say they plan to pursue remote options in the future.
"NexusPayments can be accessed from anywhere, at any time. AP teams don't have to be sitting at their desk because automated emails will let approvers know they need to act. It's the perfect tool for today's accounting workforce," Coolidge said.
The Nexus poll was conducted through a popup in the NexusPayments software and received 87 responses.
About Nexus
Nexus is the most trusted way for real estate companies to centralize and automate their procurement, invoice processing, and vendor payments. With just clicks, AP teams can manage the entire procure-to-pay process using Nexus's highly customizable software platform. Visit http://www.Nexussystems.com.
Media Contact
Lydon Sacoff, Nexus, 1 7035249101, [email protected]
SOURCE Nexus
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