Extending Paymode-X Capabilities in Real Estate Vertical
PORTSMOUTH, N.H., Sept. 13, 2022 (GLOBE NEWSWIRE) -- Bottomline, a leading provider of financial technology that makes business payments simple, smart, and secure, today announced its acquisition of Nexus Systems, a leading provider of accounts payable (AP) and payments automation software for the real estate and property management industries.
The Nexus procure-to-pay (P2P) solution takes a 360-degree view of customer and supplier needs, addressing pain points in the accounts payable process unique to real estate and property management. Nexus' capabilities, customers and suppliers will join Bottomline's Paymode-X B2B payments network, which processes over $300 billion in payments annually on behalf of 500,000+ businesses. Paymode-X also has been named a "Market Leader" in the Ardent Partners annual ePayables Technology Advisor report.
"We are on a mission to drive better business payments for businesses and financial institutions around the world," said Craig Saks, CEO, Bottomline. "We continue to proactively invest in a world class platform of businesses paying and getting paid digitally as the industry-leading expertise and capabilities in commercial real estate of Nexus are combined with the expertise, scale and distribution power of the Paymode-X network. It is also an honor to welcome the Nexus team to Bottomline-and to our shared cause of winning for customers."
"The Nexus combination deepens what we can deliver to customers across real estate and property management, bringing to Paymode-X vertical depth and expertise through an incredibly talented team that has developed rich feature-functionality," said Tom Dolan, General Manager for Paymode-X at Bottomline. "Capabilities including procurement, purchase order approval, invoice automation and job costing are some of the core features we will use to deliver customer delight across the industry. Nexus also adds thousands of suppliers to the Paymode-X network who are ready to be paid digitally. We welcome Nexus customers to Paymode-X where they can benefit from layers of security which help us operate our payments network fraud-free on the industry's largest Premium ACH network."
"Nexus and Paymode-X share a vision to automate the entire real estate and property management AP process, across procure-to-pay, with one solution," said Tom Coolidge, CEO, Nexus Systems. "Our teams mirror each other as passionate builders who take pride in the ownership of customer success. We strengthen that commitment to customers by accelerating the NexusPayables roadmap, providing immediate access to Bottomline's extensive capabilities including Premium ACH, and giving them the power to pay more than 500,000 vendors across the Paymode-X network."
Terms of the deal were not disclosed. Mainsail Partners was the only private equity investor in Nexus Systems prior to the transaction. Raymond James served as the exclusive financial advisor to Nexus Systems.
About Bottomline
Bottomline makes business payments simple, smart and secure for businesses and financial institutions, of all sizes, all over the world. More than 10,000 corporate customers, 1,400 commercial and business banks, including 15 of the top 25 global banks, rely on our industry-recognized payment and software platforms to accelerate digital transformation in a complex world of business payments and financial management. Bottomline solutions touch customers and payments in 92 countries across six continents. Our teams serve the world from primary locations in the United States, the United Kingdom, Switzerland, Israel, India, Australia and Singapore. Bottomline is a portfolio company of Thoma Bravo, a highly respected software-centric private equity firm with over $122 billion in assets under management. For more information visit www.bottomline.com.
About Nexus Systems
Nexus provides the fastest way for real estate companies to ditch paper checks and send secure payments to their suppliers. With its roots in AP automation, the 21-year-old software company has built the largest, validated community of suppliers serving multifamily, CRE and other real estate segments. Using just clicks, real estate companies can connect to their suppliers and send them payment.
Media Contacts
John Stevens or Jacqueline Powell
Bottomline
pr@bottomline.com
