Simplify Construction Billing and Payments
Oracle Textura Payment Management increases efficiency and control in construction payment management through a collaborative subcontractor invoicing and payment software system. The cloud solution, which has been used on projects totaling more than $1 trillion in value, streamlines and automates processes to accelerate payment, mitigate risk, and improve cash flow. Contractors can rely on the exchange of e-signed lien waivers and electronic payments.
Key Business Benefits:
- Increased efficiency: Eliminate paper and gridlock by standardizing processes and providing a single source of truth to the supply chain.
- Control and risk mitigation: Enforce requirements and automate payment holds for compliance issues.
- Insights and visibility: Analyze and easily report on payments and compliance data to improve project performance.
“DPR believes their relationships in the subcontractor community, which are strengthened by Oracle Textura Payment Management, are critical to the company’s success and ability to maintain a competitive edge in the market.”
Product Features
Open all Close allStreamlined Workflows and Automation
- Increase process efficiency and productivity, saving time and costs and shifting team focus to value-added tasks
- Reduce errors, rework, and delays by automatically generating accurate invoice documents linked to schedules of values (SoV)
- Accelerate invoice review and generation of payment applications to shorten the draw cycle and improve cash flow
- Improve line of sight into task and activity status to prevent delays and enhance communication
- Centralize tracking of compliance and other critical documents as well as reporting
Online Collaboration in a Shared Environment
- Enable true stakeholder collaboration and version control of payment materials in a shared cloud workspace
- View real-time status of all lien waivers (prime and subtier) and invoices
- Ensure project teams and subcontractors have full visibility into compliance status to proactively address issues
- Preserve audit trails capturing all user actions, electronic signatures, and payment documents
Lien Waivers and Compliance Documents
- Facilitate the secure digital exchange of current, unconditional, e-signed lien waivers for automated clearing house (ACH) payments
- Automate payment holds for lien waiver or compliance deficiencies
- Enforce use of standardized forms, including lien waivers, and prevent modifications
- Prevent unauthorized or fraudulent change orders and payment activity
ERP/Accounting System Integration
- Automate seamless transfer of critical financial data between Textura and the most popular accounting solutions
- Configure timing and frequency of data transfers
- Drive efficiency by eliminating redundant data entry and errors
- Increase financial visibility and enable better decision-making
Read the datasheet: Oracle Textura Payment Management Connects with your ERP System
Electronic Payment
- Simplify and expedite payments using automated clearing house (ACH) payments
- Eliminate costs, administrative burdens, and complications related to cutting and delivering paper checks
- Pay subtiers directly if required
- Reduce subcontractor payment status inquiries with automated deposit notifications
Accelerated Payment Programs
Oracle Textura Payment Accelerator is an optional feature that enables you to create and run accelerated payment programs using existing Oracle Textura Payment Management invoicing and payment workflows.
- Operate accelerated payment programs at scale with a simple and convenient extension to your existing billing workflows and ERP integrations
- Use whichever funding source you prefer—internal or external—for optimal flexibility in how you run your programs
- Control how you fund, configure, and offer programs that make financial sense for both you and your trade partners. You can adjust settings at the project, organization, and contract level
- Encourage adoption by your trade partners by making enrollment convenient and accessible through their familiar contract and invoicing workflows. Educate your trade partners about the benefits of enrolling in your programs via in-app workflows
- Subcontractors can manage their enrollment to suit their cash flow needs, suspending and resuming participation when they want
Insights and Visibility
- Create categories and classifications to automate compliance reporting for the supply chain
- Enable on demand and configurable reporting to free teams from time- consuming data generation
- Gain portfolio-wide view into payment and task status
- Leverage dashboards and robust reporting to easily see and communicate key project metrics
Dedicated Client Services
- Enjoy full support during implementation and for as long as you continue to use Oracle Textura Payment Management
- Rely on your dedicated support team, available when you need them
- Utilize unlimited training for all users to shorten time to value
- Ensure that your subcontractors quickly receive the support they need
Customer Success Stories
Turner Construction provides transparency and faster payments to their subcontractors with Oracle Textura Payment Management
Turner Construction
Turner Construction, a large US contractor, leverages Oracle Textura Payment Management to automate subcontractor invoicing, lien waver exchanges, and construction compliance documentation to consistently process payments more efficiently and pay subcontractors faster.
Austin Commercial speeds pay application processing by over 50% with Oracle Textura Payment Management
Austin Commercial
Austin Commercial, one of the largest U.S. builders, needed a scalable solution to support their growth. The company sped subcontractor pay application processing and payment application submission to the owner by over 50% company.
DPR Construction pays contractors up to 7 days faster with Oracle Textura Payment Management
DPR Construction
DPR Construction is a $6 billion global organization ranked no. 10 on Engineering News Record’s 2019 Top 400 Contractors list. By integrating Oracle Textura Payment Management into their ERP system, DPR save 360 accounting hours per week on call sheets and pays subcontractors 7 days faster.
Blach Construction achieves 50% reduction in change order payment processing
Blach Construction
Mid-Sized General Contractor, Blach Construction, implemented Oracle Textura Payment Management to facilitate the company’s invoicing, lien waiver and subcontractor payments processes. Subcontractors receive payment an average of five to seven days faster than they did before.
Oracle Textura Payment Management Resources
Find out how three general contractors have transformed their payment management process.
Discover how builders build efficiency by simplifying construction payment management.
Streamline invoicing and payment for all construction project stakeholders.
