Product tour—Oracle Textura Payment Accelerator

Oracle Textura

Oracle Textura Payment Accelerator

Oracle Textura Payment Accelerator is an optional feature for general contractors that enables you to run an accelerated payment program using existing invoicing workflows.

In this product tour, you’ll learn how to set up programs so you can provide early payments to improve subcontractor cash flow and project outcomes.

Set up payment accounts: Overview

Start by setting up dedicated payment accounts within Oracle Textura Payment Accelerator using whichever funding source you prefer, internal or external.

You can set up multiple accounts and programs to accommodate different funding sources or program rules.

Set up payment accounts: Account details

Enter the payment account information and click Save. You can set up different payment accounts for different purposes such as internal accounts, joint venture accounts, or an external funding source.

Create or edit programs: Overview

Accelerated payment programs allow your organization to set specific conditions (funding sources, enrollment text, pricing terms, etc.) that will be offered to your subcontractors as part of their enrollment. You can add new programs or edit an existing program as needed.

Create or edit programs: Settings

Define your program settings such as the program name, display name, subcontractor fee percent, funding and maturity accounts, and so on.

Create or edit programs: Enrollment

You can also define allowed invoice types, funding cutoff, and whether subcontractors will be eligible to enroll by default.

To promote your program to trade partners, add the text you wish them to see when offered the chance to enroll.

Create or edit programs: Program promotion

Finish your program setup by uploading your terms and conditions, and any banner, FAQ document, and logo you want subcontractors to see when they receive an offer to enroll in the program. Use this section to promote your program to trade partners.

Add a program to a project

Once you’ve configured a program, it can be offered on a per-project basis. You have the flexibility to adjust settings at the project, organization, and contract level.

Subcontractor enrollment: Overview

Invite subcontractors to participate via the existing billing workflow. Once they enroll, they can receive payment as soon as you approve the invoice, which can accelerate payment by several weeks. If it’s a new project, subcontractors will see the enrollment option when they accept their contract.

Subcontractor enrollment: View program details

Once subcontractors confirm their contract, and assuming you’ve invited them to participate in your accelerated payment program, they’ll be presented with the enrollment option.

This way, enrolling in an accelerated payment program is simply another step in a familiar process.

Subcontractor enrollment: Enroll or decline

Subcontractors can either enroll or decline; it’s completely optional. If they decline now, they can enroll later as part of the usual invoicing process.

Subcontractor enrollment: Confirm

If they enroll now, they will see a confirmation on their screen.

Subcontractor enrollment: Manage status

Subcontractors can easily access and manage their enrollment via their familiar user interface, suspending or resuming it as needed.

Payments and disbursement: Overview

Manage invoices, payment approvals, and disbursement with your familiar Oracle Textura workflows.

Payments and disbursement: Authorize payment

Review all approved invoices and select which ones are ready to pay. Provided there are no pay holds, you can authorize the payment and send to your disburser.

Payments and disbursement: Disburse funds

When you’re ready to disburse, simply check off the payments and click Disburse Selected.

You always have control over the timing of payments.

Dashboards and reporting

With project dashboards, project teams gain visibility into their TPA invoices. Enterprise dashboards provide program administrators with visibility into inflight invoices, upcoming cash repayment needs, and invoices nearing cutoff dates, so they can take appropriate action to ensure continued subcontractor participation.

Integrated to familiar workflows

Payment acceleration is an extension of existing Textura Payment Management billing workflows for general contractors and subcontractors, with similar integrations to your accounting system so you can easily operate your programs at scale.

Flexible, configurable settings

You have full control over how to fund, configure, and offer programs that make financial sense for you and your trade partners.

Early, predictable payments

Subcontractors can manage their enrollment from their familiar invoicing user interface, opting in when they want to receive payments earlier and on a predictable schedule.

Oracle Textura Payment Management Cloud Service with optional Payment Accelerator

With Oracle Textura, you can benefit from increased efficiency via streamlined processes, reduced risk around compliance, and greater visibility into payments. With Payment Accelerator, you can give trade partners the option to receive accelerated payments and payment timing certainty.

Primeiros passos com o Oracle Textura Payment Management

Experimente nossa demonstração autoguiada

Veja como o Oracle Textura Payment Management pode ajudar você a simplificar os pagamentos com gestão colaborativa.

Solicite uma demonstração ao vivo

Fale conosco para agendar uma demonstração ao vivo do Oracle Textura Payment Management.

Leia nosso blog

Assine o blog do Oracle Construction and Engineering para ficar por dentro das últimas atualizações.

Assine nossa newsletter

Fique à frente com as últimas tendências e insights.