Textura
Oracle Textura Payment Management Cloud Service is a cloud-based, collaborative financial solution for the construction industry, designed to help companies manage areas including invoicing, payments, compliance management, and lien waivers.[1][2] Oracle Corporation has developed the product since acquiring Textura Corporation in 2016 for $663M.[3] Textura Corporation was founded in 2004 in the Greater Chicago Area, United States, and went public in June 2013.[4]
Features[edit]
Oracle Textura Payment Management Cloud Service is designed to enable construction companies to streamline invoicing, payment, and compliance workflows using automation, helping them to reduce errors and delays, generate accurate payment documentation automatically, and review invoices faster. In addition, it allows general contractors to pay subcontractors electronically via an automated clearing house (ACH).[5] In the US, it facilitates the secure digital exchange of current, unconditional, e-signed lien waivers for payments. Online collaboration provides digital audit trails and full visibility into compliance status. Integration with ERP systems streamlines financial processes and improves visibility.[6]
Reception[edit]
Oracle Textura Payment Management Cloud Service is used by construction companies worldwide.
DPR Construction, a $6bn global organization, has reported experiencing streamlined and automated invoicing and payment processes, and increased billing efficiency, for faster payments to contractors.[7]
Austin Commercial, which ranked number 29 on the Engineering News-Record 2019 Top 100 CM-at-Risk Firms, reported benefiting from more timely and accurate lien waivers, with automation eliminating clerical errors and the need for follow-up and issue resolution. Centralized compliance has reduced the time spent manually tracking and administering lien releases for projects and sending reports to subcontractors.[8]
Blach Construction has reported benefits including better change order payment processing, real-time invoice and payment information availability, and elimination of paper-based routing and tracking.[9]
Other organizations that use Oracle Textura Payment Management Cloud Service include Turner Construction, Kitchell Contractors, Mass General Brigham, and Ryder Construction.[10][11][12][13]
See also[edit]
References[edit]
- ↑ "Oracle Textura - Payment Management Cloud Service - hydeparksolutions". Unknown parameter
|url-status=ignored (help) - ↑ "Data sheet: Oracle Textura Payment Management" (PDF). Unknown parameter
|url-status=ignored (help) - ↑ "Oracle buys Textura for $663M to build up its construction IT business | TechCrunch". Unknown parameter
|url-status=ignored (help) - ↑ "Textura - Crunchbase Company Profile & Funding". Unknown parameter
|url-status=ignored (help) - ↑ "Textura Payment Management - Datasheet | Oracle". Unknown parameter
|url-status=ignored (help) - ↑ "Construction Payment Management Software | Oracle". Unknown parameter
|url-status=ignored (help) - ↑ "How DPR Construction drives billing efficiency and pays subcontractors up to seven days faster". Unknown parameter
|url-status=ignored (help) - ↑ "How Austin Commercial Speeds Subcontractor Payment Cycles by Over 60%". Unknown parameter
|url-status=ignored (help) - ↑ "How a Mid-Size General Contractor Improved Payment and Compliance Processes to Support Growth". Unknown parameter
|url-status=ignored (help) - ↑ "Turner Uses Textura Payment Management to Pay Subcontractors Efficiently". Unknown parameter
|url-status=ignored (help) - ↑ "Kitchell Contractors digitizes subcontractor payment processes with Oracle Textura". Unknown parameter
|url-status=ignored (help) - ↑ "Mass General Brigham on optimizing payment processes for capital projects". Unknown parameter
|url-status=ignored (help) - ↑ "How General Contractor Ryder Speeds Subcontractor Payments, Strengthens Relationships". Unknown parameter
|url-status=ignored (help)
New page for Textura[edit]
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