Textura Payment Management—Datasheet
Customer success
Austin Commercial speeds pay application processing by more than 50% with Oracle Textura Payment Management.
Impact:
- Speeding payment cycles from five or more days to just two
- Mitigating risk by having a centralized, automated system to manage lien wavers
- Reducing human effort needed to process pay applications by two-thirds
- Cutting time to prepare and submit payment applications to the owner from four or five days to just one or two
- Saving two to three days of finance time by eliminating the joint check process
Key benefits
- Increased efficiency: Eliminate paper and gridlock by standardizing processes and providing a single source of truth to the supply chain.
- Control and risk mitigation: Enforce requirements and automate payment holds for compliance issues.
- Insights and visibility: Analyze and easily report on payments and compliance data to improve project performance.
Key features
- Streamlined workflows and automation
- Online collaboration in a shared environment
- Lien waivers and compliance documentation
- ERP/accounting system integration
- Electronic payments
- Payment accelerator (optional)
- Insights and visibility
- Dedicated client services
Owners and general contractors know that a high-performing and loyal delivery supply chain that works hard to deliver profitable projects on time deserves to be paid on time. Streamlining the billing and payment process—while ensuring effective compliance management—is what cloud-based Oracle Textura Payment Management does better than anyone.
Payment management and more
Construction projects are a team sport. Communication, collaboration, and trust are critical at every stage, including the invoicing and payment process. Too often stakeholders lack the visibility they need, are mired in endless paperwork, and open themselves and their business to unnecessary risk. Oracle Textura Payment Management is a payment management platform that increases visibility, automation, standardization, and collaboration to new levels.
It streamlines and automates the construction finance processes for billing, payment, and compliance management—including lien waiver management—with integrations with enterprise resource planning (ERP) applications, analytics and reporting, and unrivaled client services. The solution provides visibility into payments to the supply chain to head off project disruptions, delivers efficiencies to the invoice and payment processes that go straight to the bottom line, and supports compliance management to minimize risk. With everyone paid accurately and on time, project owners, general contractors, and their subcontractors can focus on high-quality project delivery.
Oracle Textura Payment Management: a comprehensive billing, payment, lien waiver, and compliance management solution
Online collaboration in a shared environment
- View the status of payment and compliance tasks, documents, and information.
- Preserve audit trails—capturing all user actions, electronic signatures, and payment documents.
- Eliminate risk of period-to-period calculation errors.
Lien waivers and compliance documentation
- Facilitate the secure digital exchange of lien waivers for automated clearing house (ACH) payments.
- Automate payment holds and notifications for lien waiver or compliance deficiencies.
- Prevent unapproved or noncompliant payment activity.
ERP/accounting system integration
Automate the transfer of financial data between the Oracle Textura Payment Management system and popular accounting systems to improve efficiency and transparency.
Electronic payment
- Expedite payments using ACH while reducing costs and administrative burden.
- Reduce payment status inquiries with system visibility and automated notifications.
Enable accelerated payment programs
Operate accelerated payment programs with Oracle Textura Payment Accelerator, a simple and convenient extension of your existing workflows and ERP integrations.
- Use your preferred funding source, either internal or external.
- Control how you fund, configure, and set up programs.
- Use familiar in-app workflows to offer your programs to your trade partners.
- Trade partners manage their own enrollment to suit their cash flow needs.
Insight and visibility
- Gain a portfoliowide view into payment and task status.
- Leverage dashboards to view and manage key metrics.
- Guard against unauthorized or fraudulent change orders and payment activity.
- Proactively monitor subcontractor and supply health to prevent negative project impacts.
- Improve visibility into materials and labor risk.
