Oracle Textura Payment Management

Streamlined workflows and automation

Improve productivity and accuracy by eliminating the inefficiencies and potential human errors from manual progress claim calculations, variations, 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 dates and times required by Security of Payments (SoP) or Construction Contracts (CC) Acts while managing documents and compliance. Offer early payment programs. Automatically calculate, hold, and release retention.

Collaboration

With everyone using a single collaboration platform, owners, builders, and subcontractors have full visibility into variation, compliance, and payment status 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 claim 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.

Claims documents

Automatically generate accurate progress claims, including details of all variations and retention, that are linked to each contract’s work breakdown, as well as payment schedules and subcontractor statement documents.

Compliance

Collect electronically signed claims, statutory declarations, and subcontractor statements. Collect additional compliance documents and confirm compliance requirements are met. Centrally track everything.

Reviews and approvals

Accelerate claims review and generation of payment schedules with highly configurable and secure approval workflows, tracking, and automated notifications. Provide everyone with visibility and reports into task and activity status.

Owner billing

Roll up subcontractor claims for head contractor’s owner billing in a single click.

Collection and tracking

Collect and track witnessed statutory declarations, as well as any compliance document or requirement, such as insurance or Government-mandated documentation.

Supplier diversity tracking

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

Notifications and reporting

Automatically receive notifications as SoP or CC Act claim assessment deadlines approach. Provide all parties with visibility into progress claim and compliance status and any related payment holds resulting from noncompliance.

Enforcement

Enforce use of standardised forms, including statutory declarations, and prevent modifications. Prevent unauthorised or fraudulent variations and payment activity.

Security of Payments and Construction Contracts Acts

Set up claims period due dates to comply with Security of Payments and Construction Contracts Acts requirements. Automatically send emails and notifications before deadlines. Track and report on key metrics for period performance.

Built-in payment

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

Track payments and notify

Track claims 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 programs using existing Oracle Textura Payment Management claims and payment workflows.

Working together

Owners, head contractors, and subcontractors gain efficiency by working together in a shared environment and can communicate about documentation, errors, compliance requirements, payment holds, or payment status.

Status reports

View the real-time status of all compliance documents and requirements, variations, and claims. 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 head contractor, subcontractor, audit, and period reports, including supplier and sub-tier diversity tracking.

Project dashboards and analytics

Analyse projects, subcontractors, period budgets, claims, 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 head contractors provide summaries across all vendors, payments, task status, and projects.

Data services

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