Oracle Textura Payment Management Cloud Service
Oracle Textura Payment Management Cloud Service enables you to increase efficiency and control in construction payment management. It streamlines and automates processes, mitigating risk, reducing cost, and improving cash flow.
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Create a standard platform for managing invoices and payments across projects, business units, and geographies.
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Track outstanding tasks to resolve delays in invoice processing and monitor project and employee performance.
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Streamline billing to expedite invoice approvals and payments, improve accuracy, and boost visibilities for all parties into their payment status.
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Easily collect and manage all lien waivers for every project and ensure that deficiencies are resolved before payments are made.
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Enhance visibility into the status of compliance materials and automate notifications and payment holds when issues arise.
- Overview
- Features and Benefits
Oracle Textura Payment Management Cloud Service enables you to boost efficiency, enhance visibility, and increase control of payment management. By transforming processes, Oracle Textura Payment Management increases productivity, mitigates risk, improves cash flow, and enables organizations to scale operations for growth.
Features
Benefits
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Streamlined 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
- 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 improve communication
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Online collaboration in 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 sub-tier) 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
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Lien waiver exchange and risk controls
- Facilitate the secure digital exchange of current, unconditional e-signed lien waivers for Automatic Clearing House (ACH) payments
- Automate payment holds for lien waiver or compliance deficiencies
- Enforce subcontractor use of standardized forms, including lien waivers, and prevent modifications
- Prevent unauthorized or fraudulent change orders or payment activity
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ERP/accounting system integration
- Automate seamless transfer of critical financial data between TPM and most popular ERP solutions
- Configure timing and frequency of data transfers based on need
- Drive efficiency by eliminating redundant data entry and errors
- Increase financial visibility and enable better decision making
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Electronic payment by ACH
- Simplify and expedite payments to subcontractors using ACH payments
- Eliminate costs, administrative burdens, and complications related to cutting and delivering paper checks
- Pay sub-tiers directly if needed
- Reduce subcontractor payment status inquiries with automated deposit notifications
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Payment financing program option
- Offer optional early payment to subcontractors
- Enable subcontractors to receive payment earlier and on known date, in exchange for service fee
- Help subcontractors improve cash flow, strengthen balance sheets, and position for growth
- Strengthen subcontractor relationships to gain competitive advantages
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Dedicated client services
- Benefit from full support during implementation and for as long as you continue to use Oracle Textura Payment Management
- Access your dedicated support team when you need them
- Enjoy unlimited training for all users to shorten time to value
- Count on our client services team to ensure that your subcontractors quickly receive the support they need
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