Textura Payment Management—Datasheet
Customer success
Austin Commercial reduces pay application processing times by more than 50% with Oracle Textura Payment Management
Impact:
- Shortening payment cycles from five or more days to just two
- Mitigating risk by having a centralised, automated system to manage legal compliance
- Reducing manpower needed to process pay applications by two-thirds
- Cutting time to prepare and submit payment applications to the owner—from four to five days to just one or two
- Saving two to three days of finance time by eliminating manual entry
Key benefits
- Increased efficiency: Standardise processes and provide a single source of truth to your supply chain.
- Control and risk mitigation: Enforce requirements and automate payment holds for compliance issues.
- Insights and visibility: Analyse and easily report on payments and compliance data to improve project performance.
Key features
- SoP/CC Act compliance built-in
- Streamlined workflows and automation
- Online collaboration in a shared environment
- Clear view of all variations and their status
- Oracle Aconex and ERP integration
- Insights and visibility
- Dedicated client services
Learn more
Join the Conversation
Owners and head contractors know that a high-performing and loyal delivery supply chain deserves to be paid on time. Streamlining the claims and payment process, while ensuring effective Security of Payments and compliance management, is what cloud-based Oracle Textura Payment Management does better than anyone—on projects totaling more than $1 trillion in value to date.
Payment management and more
Construction projects are a team sport. Communication, collaboration, and trust are critical at every stage, including the claims and payment process. Too often stakeholders lack the visibility they need to comply with Security of Payments (SoP) or Construction Contracts (CC) Acts, and open themselves and their business to unnecessary risk. Oracle Textura Payment Management:
- Streamlines and automates processes for progress claims and payment schedules, variations, payment, and compliance management,
- Integrates to enterprise resource planning (ERP) applications
- Provides comprehensive analytics and reporting, and
- Supports your implementation and beyond with dedicated client services.
Oracle Textura provides visibility into dates and timeframes to make it easy to comply with SoP and CC Acts, delivers efficiencies to the claims and payment processes which go straight to the bottom line, and supports compliance management to minimise risk. With everyone paid accurately and on time, project owners, builders, and their subcontractors can focus on high quality project delivery.
Oracle Textura Payment Management: Comprehensive claims, payment, variation, and compliance management solution
Online collaboration in a shared environment
- View status of payment and compliance tasks, documents, and information
- Preserve audit trails by capturing all user actions, electronic signatures, and progress claims and payment schedules
- Eliminate risk of month-to-month calculation errors
Variation management and compliance documentation
- Give subcontractors visibility into the status and value of their variations to reduce back-and-forward discussions
- Link subcontractor requests to approval records to track the history of each variation
- Automate payment holds and notifications for compliance deficiencies
- Prevent unapproved or noncompliant payment activity
Integration with Oracle Aconex
Project teams save hours with the exclusive out-of-the box integration connecting Oracle Aconex and Oracle Textura Payment Management.
- Easy, one-time setup ensures key payment documents are stored appropriately in Oracle Aconex, your indelible project system of record.
- Subcontractor claims approved in Oracle Textura are automatically added to your document register in Oracle Aconex, retaining an auditable accurate record as a single source of truth.
- Oracle Aconex also sends Payment Schedules to subcontractors using transmittals, creating certainty and transparency on changes, variations, cash flow, and budget.
- The integration is fully maintained by Oracle to ensure smooth operation―no customer IT support is needed.
Integration with ERP/accounting systems
Automating transfer of financial data between the Oracle Textura Payment Management system and popular accounting systems improves efficiency and transparency.
Ease of use for subcontractors
- Subcontractors have a single login to view all their projects on Oracle Textura
- Simple, guided process for entering new variations and progress claims
- Unlimited support included for the life of the project
Insight and visibility
- Gain portfolio-wide view into payment and task status
- Leverage dashboards to view and manage key metrics
- Proactively monitor business-level adherence to SoP/CC Act timeframes and view which regions, projects, or contracts are not meeting their obligations
- Improve visibility into materials and labour risk
Enable accelerated payment programs
Operate accelerated payment programs with Oracle Textura Payment Accelerator, a simple and convenient extension of your existing workflows and ERP integrations.
- Use your preferred funding source, either internal or external.
- Control how you fund, configure, and set up programs.
- Use familiar in-app workflows to offer your programs to your trade partners.
- Trade partners manage their own enrollment to suit their cash flow needs
