Business Payments Firm Bottomline Acquires Nexus Systems

Bottomline, a provider of financial technology that makes business payments simple, smart, and secure, recently announced its acquisition of Nexus Systems, a 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.”

Craig Saks, CEO, Bottomline, said:

“We are on a mission to drive better business payments for businesses and financial institutions around the world. 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.”

Tom Dolan, General Manager for Paymode-X at Bottomline, remarked:

“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. 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.”

Tom Coolidge, CEO, Nexus Systems, added:

“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. 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.”

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