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Owners and general contractors know that a high-performing and loyal delivery supply chain that works hard to deliver profitable projects on time deserves to be paid on time. Streamlining the billing and payment process, while ensuring effective 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.
Construction projects are a team sport. Communication, collaboration, and trust are critical at every stage, including the invoicing and payment process. Too often stakeholders lack the visibility they need, are mired in endless paperwork, and open themselves and their business to unnecessary risk. Oracle Textura Payment Management is a payment management platform that increases visibility, automation, standardization, and collaboration to new levels.
It streamlines and automates the construction finance processes for billing, payment, and compliance management, including lien waiver management, with integrations to Enterprise Resource Planning (ERP) applications, analytics and reporting, and unrivaled client services. The solution provides visibility into payments to the supply chain to head off project disruptions, delivers efficiencies to the invoice and payment processes which go straight to the bottom line, and supports compliance management to minimize risk. With everyone paid accurately and on time, project owners, general contractors, and their subcontractors can focus on high quality project delivery.
Automating transfer of financial data between the Oracle Textura Payment Management system and popular accounting systems improves efficiency and transparency.