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: Standardise processes and reduce manual admin to allow people to focus on productive, value-adding tasks.
- Control and risk mitigation: Enforce requirements and automate payment holds for compliance issues.
- Insights and visibility: Analyse and easily report on payments and compliance data to improve project performance, cash management and payment speed.
Key features
- Functionality built in for: Tax management, including CIS tracking and VAT management, with DRC functionality built in. Prompt Payment Code and Construction Act date tracking.
- Standardised and secure payment management workflows
- Effective compliance management
- Payments and payment acceleration
- Collaboration in a shared environment
- Comprehensive reporting and analytics
- Integration, implementation, training, and dedicated client services
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Oracle Textura Payment Management is a cloud solution for automating the construction payment management process.
Payment management and more
Applications, valuations and payments don’t have to be admin heavy. Automating your payments processes, for contractors and subcontractors alike, eliminates repetitive manual tasks and lets you focus on improving your business. Oracle Textura Payment Management brings every element of the process together on to one secure cloud platform, making your payment management hassle-free.
With a 360° view of your digitised workflows, the solution removes the chance for human error and ensures that you stay compliant with regulations. It’s a modern, digital solution that helps construction organisations move to a painless end-to-end payments process, with full visibility and easy reporting for all relevant project stakeholders. Whether it is CIS deductions, VAT calculations or contracts and variations, you’ll be able to develop more efficient and effective application and approval processes across the organisation.
With Oracle Textura Payment Management, everyone involved in Construction payments gets a helping hand.
Oracle Textura Payment Management: comprehensive payment application and compliance management solution
Online collaboration in a shared environment
- View status of payment and compliance tasks, documents, and information
- Preserve audit trails by capturing all user actions, electronic signatures, and payment applications
- Eliminate risk of month-to-month calculation errors
- Track dates against key deadlines, ensuring you never miss a deadline
- Set approval rules, including back up approvers if an approver is out of the office
Variation management and compliance documentation
- Give subcontractors visibility into the status and value of their variations to reduce back-and-forward discussions
- Link subcontractor requests to approval records to track the history of each variation
- Automate payment holds and notifications for 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.
Integration with Oracle Aconex
- Project teams save hours with the exclusive out-of-the box integration connecting Oracle Aconex and Oracle Textura Payment Management.
- Easy, one-time setup ensures key payment documents are stored appropriately in Oracle Aconex, your indelible project system of record.
- Subcontractor claims approved in Oracle Textura are automatically added to your document register in Oracle Aconex, retaining an auditable accurate record as a single source of truth.
- Oracle Aconex also sends Payment Schedules to subcontractors using transmittals, creating certainty and transparency on changes, variations, cash flow and budget.
- The integration is fully maintained by Oracle to ensure smooth operation―no customer IT support is needed.
Support for accelerated payment programmes
Operate accelerated payment programmes 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 programmes.
- Use familiar in-app workflows to offer your programmes to your trade partners.Trade partners manage their own enrollment to suit their cash flow needs.
Insight and visibility
- Gain a portfolio-wide view into payment and task status.
- Leverage dashboards to view and manage key metrics.
- Proactively monitor subcontractor and supply health to prevent negative project impacts.
- Improve visibility into materials and labour risk.
- Gain insight into payment terms, helping seek ways these metrics can be improved.
