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In this product tour, learn how Oracle Textura simplifies construction payment processes with
Screenshots of AIA G702 sample
Automatically generate accurate invoice documents—such as G702 or G703 forms—that are linked to each contract’s schedule of values.
Each document is signed electronically using an integration with DocuSign, which is provided at no additional cost.
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Collect electronically signed invoices, lien waivers, sworn statements, and unconditional lien waivers.
Configure additional compliance documents and compliance requirements to ensure all project requirements are met. You and the extended project team can centrally track everything from one place.
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Accelerate invoice review and the generation of payment applications with highly configurable and secure approval workflows and automated notifications. Oracle Textura provides everyone with visibility and insight into the status of tasks and activities related to payment workflows.
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Quickly roll up subcontractor invoices into the general contractor’s owner billing, eliminating dual data entry.
Generate or print all the owner billing documents with the "print draw documents" functionality, making a tedious task easy to accomplish in seconds.
Quote from Andrea Barney, Senior Construction Accountant, Digital Realty: “The signature workflow makes it seamless to know when an invoice is ready to be reviewed and to track what signatures are pending. This makes for quicker approvals and faster payments. Gone is all the manual entry into spreadsheets.”
Digital Realty has built a large global platform with multitenant data center capacity. To maintain pace with their rapid expansion, Digital Realty manages multiple construction projects around the world. The entire construction supply chain works together to build their vision.
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Collect and track conditional and unconditional subcontractor and sub-tier lien waivers as well as any compliance document or requirement, such as standard compliance, periodic or recurring, or rules-based compliance.
Screenshots of project supplier tracking page
Set up supplier tracking programs at the enterprise level to support diversity initiatives or at the individual project level to track per-project attainment.
You can also create categories and classifications to automate compliance reporting.
Screenshots of document status page for both the general contractor and subcontractor
Check the compliance status of each requirement and automatically send relevant notifications. All parties get visibility into lien waiver and compliance status and any related payment holds resulting from noncompliance so issues can be quickly addressed.
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Enforce the use of standardized forms, including lien waivers and invoices. Prevent unauthorized or fraudulent payment activity from occurring.
Quote from Adam Nickerson, Chief Financial Officer, Alston Construction: “The way Oracle Textura manages compliance docs and lien waivers protects the company, and it protects the owner. My project accountants might have 15 projects with 20 subcontractors each, plus all the lower tiers. It sometimes feels like stacks of lien waivers are flying at your desk. With Oracle Textura, we don’t worry—everything is accurate and where it needs to be.”
Alston Construction provides general contracting, construction management, and design-build services for an array of industries and projects. In the last decade, they’ve grown from roughly US$200 million in revenue to more than US$2 billion today, and Textura has been supporting their growth through the years.
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Set up the secure digital exchange of current, unconditional, and e-signed lien waivers for payments made through the automated clearing house (ACH) network.
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Stop cutting and delivering paper checks. Simplify and expedite payments using ACH payments. You also have the ability to pay sub-tiers directly if required.
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Track invoicing and disbursements and notify all stakeholders at every stage in the process. Automated deposit notifications help reduce in-house and subcontractor payment status inquiries.
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Automate payment holds for lien waiver or compliance deficiencies. Ensure the general contractor never pays a subcontractor unless all the required documents are accounted for.
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Help subcontractors overcome working capital challenges by offering early payment programs integrated with your payment workflows.
Oracle Textura Payment Accelerator is an optional feature that enables a general contractor to create and run accelerated payment programs that they can offer to their subcontractors.
Quote from Sarah Murray, Vice President, Wood Partners: “With Textura, we appreciate the fact that we could pay subcontractors electronically without our company being responsible for maintaining their banking information. Subcontractors are responsible for their own banking information, and that avoids a potential security issue for us.”
Wood Partners is one of the largest multifamily real estate developers in the US. As an owner-developer, they deal with several hundred subcontractor invoices each month as well as all the related contracts, compliance documents, compliance requirements, lien waiver collection, and payments.
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Work efficiently with all stakeholders (owners, general contractors, and subcontractors) in a shared environment.
Easily communicate about missing or out-of-date documentation, errors, compliance requirements, payment holds, or payment statuses.
Screenshots of document status owner and general contractor view, and subcontractor view
View the real-time status of all lien waivers and invoices. Whether you are an owner, general contractor, or subcontractor, you will see the right data for your role. This ensures project teams and subcontractors have full visibility into compliance status to proactively address issues.
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Use the logs for version control of payment materials in a shared cloud workspace. All user actions, electronic signatures, and payment documents are preserved for auditing purposes.
Hosted on Oracle Cloud Infrastructure, you have secure access, SSL encryption, two-factor authentication, single sign-on, and so on.
Quote from Dave Jolin, Chief Financial Officer, Commodore Builders: “No one wants disputes. Oracle Textura gives us the capacity to work together and anticipate and fix issues before they even become issues.”
Commodore Builders, a midsize general contractor based in the Boston, Massachusetts, area, fiercely focuses on their clients’ needs. From the smallest fit-out to the most challenging out-of-the-ground construction project, this award-winning builder can do it all.
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Enable on-demand and configurable reporting. Track status and performance with more than 90 predefined general contractor, subcontractor, audit, and draw reports, including supplier and sub-tier diversity tracking.
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Analyze projects, subcontractors, draw budgets, invoices, payments, and subcontractor status. Track performance with dashboards and analytics to easily see and communicate key project and portfolio metrics. Data services allow you to access data with your own analytics applications.
Quote from Emily McFarlin, BI Analyst, Evans: “I estimate that because of the easy access to the data that our BI tool has through Oracle Textura data services, I’m saving about five hours a week by no longer having to manually blend and scrub data in Excel.”
As a national and international design-build, general contracting, and construction management firm, Evans General Contractors provides cost-effective solutions and comprehensive project development to clients across a broad spectrum of markets. They implemented Oracle Textura Payment Management in 2015.
Business process mapping, accounting system integration, training and enablement, support
Textura is committed to providing an exceptional customer experience through tailored, relevant services for the entire duration of the customer journey.
Quote from Jason Humphries, CEO, Four Peaks Building Group: “I’m a big proponent of customer service, and hands down, you provide the best customer service I’ve seen in any market, industry, or personal business. You guys nailed it.”
Newly launched, Four Peaks Building Group is on a rocket-like trajectory as a respected commercial general contractor in Phoenix, Arizona. With a combined 78 years of deep industry experience among the founders, they understand that building a winning construction company takes more than hammers and nails.
Boost efficiency in construction payment management with streamlined and accurate billing, timely payments, and effective compliance controls. Prevent errors and delays with process automation and gain visibility into downstream payments to lessen the risk of disruption.
Want to learn more?
Découvrez comment Oracle Textura Payment Management peut vous aider à rationaliser vos paiements grâce à la gestion collaborative des paiements.
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