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Bottomline acquires Nexus Systems

Wednesday 14 September 2022 14:41 CET | News

Bottomline, a provider of financial technology, has acquired Nexus Systems, a provider of accounts payable (AP) and payments automation software.
The Nexus procure-to-pay solution takes a 360-degree view of customer and supplier needs, addressing pain points in the AP process unique to real estate and property management. Nexus’ capabilities, customers and suppliers will join Bottomline’s Paymode-X business-to-business (B2B) payments network, which processes over USD 300 billion in payments annually on behalf of 500,000+ businesses.

According to the officials, capabilities including procurement, purchase order approval, invoice automation, and job costing are some of the core features Bottomline will use to deliver customer experience across the industry. Nexus also adds thousands of suppliers to the Paymode-X network who are ready to be paid digitally.

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.

Bottomline aims to make business payments simple and secure for businesses and financial institutions around 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 world of business payments and financial management.

Accounts payable trends

Technology is a major driving force that is shaping how the world does business. This push for technological innovation is impacting the landscape of multiple industries, including finance. The digitisation of companies is becoming a standard practice for brands looking to succeed in an increasingly digital world.

Bottomline, a provider of financial technology, has acquired Nexus Systems, a provider of AP and payments automation software.

AP is an integral part of business finance that works to ensure that companies are handling their financial obligations. Although traditionally performed using manual processes and physical documentation to function, the advent of digital solutions is changing that.

There has been a notable increase in AP solutions, with a growing trend of cloud-based formats. Unlike on-site solutions, cloud-based software is off-site and works through an online framework. This has a number of advantages including infrastructure cost savings and the ability to access the system from anywhere remotely. As the technology used in cloud-based solutions for AP continues to develop, more companies will integrate it into their working practices.

The rise of fintech mergers and acquisitions

The digital ecosystem has resulted in many more strategic partnerships and collaborations as well as mergers and acquisitions. Smaller startups no longer have to be absorbed by larger entities and can often just form an alliance whereby both companies benefit from each other’s products, services, and marketplaces.

The growth potential of the payments market over the past decade is the wind in the sails of the current trend for mergers and acquisitions. As consumers demand further payment innovation, merchants seek increasingly specialised service providers with deep knowledge of both payments and technology to increase their conversion rates and sales volumes. To keep up with the development and consumer demand, companies active in payments need to invest heavily or grow their capabilities through mergers and acquisitions in the payments industry.

To find more about Bottomline, check their profile in our company database.


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Keywords: acquisition, accounts payable, payments , financial institutions, digitalisation
Categories: Payments & Commerce
Companies: Bottomline, Nexus Systems
Countries: World
This article is part of category

Payments & Commerce

Bottomline

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Nexus Systems

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