Oracle Textura Payment Management

Applications, change orders, and payments don’t have to be admin heavy. Boost efficiency with a construction payment management application that helps builders, owners, and subcontractors simplify the monthly draw process. Reduce risk by securely managing compliance. Increase visibility to downstream payments to ensure the supply chain is paid on time for work completed

Builders and owners have trusted Oracle Textura on more than USD$1T of projects.

Simplify construction payment management

Increase productivity and mitigate risk with streamlined and accurate applications, timely payments and effective compliance controls. Prevent errors with process automation and gain visibility into downstream payments to lessen the risk of disruption.

Streamlined workflows and automation

Improve productivity and accuracy by eliminating the inefficiencies and potential human error from manual application calculations, change orders and related reviews, approvals and compliance processes.

Compliance

Reduce risk with automated compliance workflows, secure document collection and strong governance and controls around one of your core financial functions.

Payments

Comply with timeframes required by U.K. legislation, including the Prompt Payment Code and Construction Act, while managing documents and compliance. Offer early payment programmes. Automatically calculate, hold, release retention.

Collaboration

With everyone using a single collaboration platform, owners, builders and subcontractors have full visibility into change orders, compliance and payment statuses and can identify and fix potential issues before they become problems.

Reporting and analytics

Augment your enterprise analytics by adding payment data from Oracle Textura Payment Management to your data warehouse. Support your decisions with reports, dashboards, and analytics delivered to you when and how you want them.

Integration with Oracle Aconex

Save time with the exclusive out-of-the box integration connecting Oracle Aconex and Oracle Textura. Eliminate manual steps by automating the transfer of approved application documents to your Oracle Aconex document register.

Accounting system integration

Eliminate redundant double data entry and automate the transfer of critical financial data between Oracle Textura and the most popular accounting solutions. Oracle sets up these integrations at no extra charge.

Dedicated client services

You and your subcontractors enjoy dedicated support at no extra cost during implementation and for as long as you use the application. Access unlimited training for all users, including subcontractors, to shorten time to value.


Application documents

Automatically generate accurate payment applications, including change orders and retention, which are linked to each contract’s work breakdown, as well as payment certificates, pay less notices, VAT invoices and other documents.

Prompt payment and tax management

Automatically generated applications help you adhere to the Construction Act, tax management (including VAT, CIS and DRC functionality), and include date tracking reminders to help with Prompt Payment Code obligations.

Compliance

Collect electronically signed documents, such as insurance and warranty, or signed contracts from subcontractors. Collect additional compliance documents and confirm compliance requirements are met. Centrally track everything.

Reviews and approvals

Accelerate payment application review and generation of payment certificates, with secure approval workflows, tracking, and automated notifications. Provide everyone with visibility and reports into task and activity statuses.

Owner billing

Roll up subcontractor applications for main contractor’s billing to the owner/client in a single click.


Collection and tracking

Collect and track VAT invoices, as well as any compliance document requirements, such as insurance or government-mandated documentation.

Diversity, green initiative tracking

Set up supplier tracking programmes at the enterprise level to support diversity or green initiatives or at the project level to track per-project attainment. Create categories and classifications to automate compliance reporting.

Notifications and reporting

Automatically receive notifications as Prompt Payment or Construction Act deadlines approach. Provide all parties with visibility into application and compliance status and any related payment holds resulting from noncompliance.

Enforcement

Enforce use of standardised forms, including VAT invoices, and prevent modifications. Prevent unauthorised or fraudulent change orders and payment activity.


Construction Act and Prompt Payment Code

Set up application due dates to comply with Construction Act and Prompt Payment Code requirements. Automatically send emails and notifications before deadlines. Track and report on key metrics for period performance.

Built-in payment

Simplify payments with electronic funds transfer from Oracle Textura, with amounts linked to requests and approvals, or send payment information directly to your accounting system for processing. Pay subtiers directly if needed.

Track payments and notify

Track applications and payments and notify all stakeholders at every stage in the process. Reduce subcontractor payment status inquiries with automated deposit notifications.

Payment holds

Automate payment holds for compliance deficiencies.

Payment acceleration

Oracle Textura Payment Accelerator is an optional feature that enables you to create and run accelerated payment programmes using existing Oracle Textura Payment Management applications and payment workflows.


Working together

Owners, main contractors and subcontractors gain efficiency by working together in a shared environment and can communicate about missing or out-of-date documentation, errors, compliance requirements, payment holds or status.

Status reports

View the real-time status of all compliance documents and requirements, change orders and applications. Ensure project teams and subcontractors have full visibility into compliance status to proactively address issues.

Version control and auditing

Enable version control of payment materials in a shared cloud workspace. All user actions, electronic signatures, and payment documents are preserved for auditing purposes.


Predefined reports

Enable on-demand and configurable reporting. Track status and performance with more than 90 predefined main contractor, subcontractor, audit, and payment period reports, including supplier and sub-tier tracking.

Project dashboards and analytics

Analyse projects, subcontractors, budgets, applications, payments and subcontractor status. Track performance with dashboards and analytics to easily see and communicate key project metrics.

Portfolio dashboards and analytics

Portfolio dashboards for both owners and main contractors provide summaries across all vendors, payments, task statuses and projects.

Data services

Data services allows you to access data with your own analytics applications.


Business process mapping

Oracle works with each customer to map their business processes and implement Oracle Textura and accounting system integrations that are optimised for each customer, minimising business disruptions.

Integration with Oracle Aconex

Subcontractor claims approved in Oracle Textura are automatically added to your Oracle Aconex document register, retaining an auditable accurate record. Oracle Aconex transmittals send payment schedules to subcontractors.

Accounting system integration

Eliminate redundant double data entry and automate the transfer of critical financial data between Oracle Textura and the most popular accounting solutions. Oracle sets up these integrations at no extra charge.

Training

Oracle provides unlimited training to all project partners—owners, main contractors and subcontractors—during implementation and for as long as you use the application at no extra cost.

Support

Customers can access support by telephone, e-mail or by using our chat functionality and create support requests, which are then tracked, logged and monitored by our dedicated support team.

Security, performance, scalability

Manage security, availability, performance, and scalability with Oracle Cloud Infrastructure technology. Ensure secure application access SSL encryption, user permission, two-factor authentication, single sign-on, and more.

How Bond Brothers relied on Oracle Textura Payment Management for a smooth upgrade to a new ERP system
How Oracle Textura helps Commodore Builders anticipate and manage payment risks
McShane Construction boosts efficiency and reduces risk with Oracle Textura Payment Management
MW Builders cuts lien waiver management time with Oracle Textura Payment Management
Oracle Textura provides Suffolk secure construction payment management solutions

Key benefits of construction payment management

01Improve efficiency to boost productivity

Improve efficiency through standardisation of the payment application process for the supply chain that can be rolled up into the owner’s billing.

Read how Alston Construction keeps payments smooth amid supersonic growth

02Control risk and reduce errors

Mitigate risk by reducing human error and securely managing the payment application and compliance process.

Read how Commodore Builders manages payment risks

03Minimise payment delays and project disruptions

Increase visibility into downstream payments to minimise the risk of disruption and ensure that your entire supply chain gets paid on time for work completed.

Read how subcontractor AMC gets faster payments

04Find savings and improvements from greater insights

Identify cost savings and improvement opportunities with analysis and reporting aggregated across project portfolios.

Read how Digital Realty standardizes across projects

Why now is the time to digitise UK subcontractor payments

Corie Cheeseman, senior content marketing manager

Late subcontractor payments waste time, create legal disputes and lead to significant sums that are either lost or written off. How can an industry with already thin margins avoid these pitfalls? New report indicates why now is the time to digitise payments in the UK.

Read the complete post

Additional construction payment management resources

Resources for subcontractors

Click this link for first time subcontractor users to enroll and get started with Oracle Textura. As well, existing customers and first-time users can find links and phone numbers, information about live training, and our support portal to open new requests and track existing issues.

Already an Oracle Textura Payment Management user?

Log in to your Oracle Textura Payment Management account here.

Construction Buzz: changing payment practices

In this webinar, hear how implementing one specific back office item can stabilise the commercial models and supply chain relationships to safeguard and help deliver projects on time and on budget.

The Payment Management Playbook

Learn the strategies to overcome payment process challenges that limit productivity and present risk. Builders get tips on how to work more efficiently. Owners get visibility into payments and compliance. Subcontractors eliminate manual errors.

Oracle Textura Payment Management by the numbers

Learn why the construction industry trusts Oracle Textura to keep payments—and projects—moving forward.

Get started with Oracle Textura Payment Management


Try our self-guided demo

See how Oracle Textura Payment Management can help you streamline payments with collaborative payment management.


Ask for a live demo

Contact us to set up a live demo for Oracle Textura Payment Management.


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