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Making Payment Management Easier Across the Supply Chain
Applications, valuations and payments don’t have to be admin heavy. Oracle Textura Payment Management is a market-leading cloud service, designed to bring every element of the process together into one secure and stress-free platform. By streamlining and automating your payments, for contractors and subcontractors alike, the platform enables you to cut out repetitive manual tasks and focus on improving your business.
Oracle Textura users benefit from improved applications, payment scheduling, compliance management and disbursement. That means better control, efficiency and reduced risk for all project stakeholders.
The Hidden Costs of Late Payments
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.
Learn About Oracle Textura Payment Management
A helping hand for construction
Oracle Textura gives you a 360° view of your digitised workflows, removing the chance for human error and ensuring compliance with regulations. It’s a modern, digital solution that offers construction organisations a painless end-to-end payments process, with full visibility and easy reporting for all relevant project stakeholders.
Whether it’s CIS deductions, VAT calculations or contracts and variations, you’ll be able to develop more efficient and effective processes across the organisation. Oracle Textura allows you to:
- Improve efficiency and visibility for all stakeholders
- Adhere to all UK construction legislation, including the Construction Act
- Prevent errors and rework by generating accurate and standardised documents
- Automate notifications and payment holds for compliance deficiencies
- Reduce payment periods and accelerate payments to subcontractors
- Integrate end-to-end payment management with any major ERP system
A market-leading solution
Oracle Textura is trusted by over 400,000 users worldwide, for 65,000 projects and over £6 billion of supplier invoices per month. The platform was built and tailored for the UK market and legislation, and has been tried and tested over 15 years to ensure it offers the best possible payments solution for construction businesses.
Product Features
Open all Close allStreamlined Workflows and Automation
- Enhanced efficiency and productivity, saving resources and letting your team focus on value-added tasks
- Reduction in errors, rework, and delays
- Automatically generated, accurate payment applications and certificate documents linked to work breakdown
- Accelerated invoice review and generation of payment applications to shorten the payment period and improve cashflow
- Improved line of sight into task and activity status to prevent delays and improve communication
Online Collaboration in a Shared Environment
- True stakeholder collaboration and version control of payment materials in a shared cloud workspace
- Full visibility into compliance status for project teams and subcontractors to proactively address issues
- Digital audit trails capturing all user actions, electronic signatures, and payment documents
Seamless ERP/Accounting System Integration
- Automated, secure transfer of financial data with all popular ERP solutions
- Ability to configure timing and frequency of data transfers based on need
- Elimination of redundant data entry and errors
- Increased financial visibility to inform better decision making
Insights and Visibility
- Categories and classifications to automate compliance reporting for the supply chain
- On demand and configurable reporting to free teams from time- consuming data generation
- Portfolio-wide view into payment and task status
Dedicated Client Services
- Full support during implementation and for as long as you continue to use the platform
- Dedicated support team available whenever you need them
- Unlimited training for all users to shorten time to value
- Fast support for subcontractors from the Oracle Textura client services team
Oracle Textura Payment Management
Pay subs faster with #1 in construction payment management
Oracle Textura Payment Management Resources
Everything you need to know about Oracle Textura Payment Management in a nutshell.
Digitising your subcontractor payments - why now is the time.
Late payments and the impact on construction industry.
Modern payment management – optimising processes to drive efficiency and reduce risk.
Customer Success Stories
Austin Commercial speeds pay application processing by over 50% with Oracle Textura Payment Management
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 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
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.