Leading design-build company deploys Oracle
Textura to improve collaboration with subcontractors and better
manage lien waivers
AUSTIN,
Texas, Dec. 11, 2024 /PRNewswire/ -- ARCO, a
leading national design-build construction firm, has implemented
Oracle Textura Payment Management to streamline and automate
its construction payment processes. With Textura, ARCO has
transformed the speed and efficiency of its invoicing, improved the
secure management of lien waivers and compliance, and enhanced its
collaboration with subcontractors.
"Following a comprehensive year-long evaluation process, we
selected Oracle Textura due to its exceptional capability to
efficiently and securely manage high volumes of payments," said
Austin Moore, chief financial
officer, ARCO. "With Textura, we have fortified our relationships
with subcontractors, which has had a positive ripple effect on our
connections with owners and our overall standing in the industry.
We are confident that Textura will continue to deliver increased
time and cost efficiencies, especially in project accounting, along
with enhanced risk management through streamlined lien waiver
processes."
Oracle Textura is a construction payment management application
used by thousands of general contractors, owners, and
subcontractors to simplify and automate processes for invoicing,
approvals, lien waiver and compliance management, and disbursement.
The system has managed payments for construction projects
collectively valued at over $1.5
trillion.
Onboarding and lien transformation
A key factor in ARCO's decision to implement
Oracle Textura was the platform's ability to integrate
with and provide a single sign-on environment with its existing
Vista Construction Accounting Software. In the three months since
deploying Textura, ARCO has already
on-boarded 700 in-house employees, including 100 accounting staff,
600 project managers, and 10,000 subcontractors.
"A significant part of our success is due to the outstanding
training, implementation, and account management guidance we've
received from Oracle," added Moore. "Its training, implementation
expertise, and continued support, have kept us on track at every
step, ensuring a smooth transition to Textura."
In particular, Textura has significantly helped ARCO improve its
lien waiver management systems, providing a complete audit trail
and ensuring that waivers are no longer lost or misplaced. It has
also given its subcontractors greater visibility into the status of
their invoices and payments, improving collaboration.
"Subcontractor payments are a notoriously slow and difficult
process, which can cause financial management headaches for
construction firms and erode trust with subcontractors," said
Mike Antis, global vice president,
Oracle Textura. "ARCO was committed to streamlining this process
and ensuring that subcontractors can benefit from a clear
understanding of where their payments are in the process. In
tandem, moving their payment management process to the cloud has
enabled ARCO to better manage lien waivers in a secure, centralized
environment to help them improve efficiency, mitigate risks, and
support better project outcomes."
About ARCO
ARCO is widely recognized as a construction industry
leader for various industrial project types, including cold storage
warehouses, light industrial distribution, and manufacturing. As a
national design-build firm, ARCO offers turn-key
design-build services that provide a direct relationship with a
single point of contact, resulting in cost savings and clear lines
of communication. ARCO's capabilities span from
project feasibility studies, site selection, and complete design to
value engineering, code consulting, and full general contracting.
Additionally, ARCO is 100% associate owned as
an ESOP. With integrated partners for architectural
services and structural engineering, ARCO provides
clients with a streamlined and efficient process, ensuring
exceptional results.
About Oracle
Oracle offers integrated suites of applications plus secure,
autonomous infrastructure in the Oracle Cloud. For more information
about Oracle (NYSE: ORCL), please visit us at
www.oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of
Oracle Corporation. NetSuite was the first cloud company—ushering
in the new era of cloud computing.
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SOURCE Oracle