Cloud payment management system helps
construction companies accelerate payments while mitigating risk
and improving productivity and cash flow
AUSTIN,
Texas, Jan. 8, 2025 /PRNewswire/ -- Oracle
Textura Payment Management Cloud Service has now processed
over $1 trillion in construction
payments to subcontractors. This milestone represents work on more
than 120,000 projects from over 800 general contractors and project
owners, and over 200,000 subcontractors since Textura first
launched in 2006.
"Oracle Textura greatly modernized the process by which we pay
our subcontractor invoices," said Tim
Nottoli, CIO, Walsh Group. "In my personal life, I pay my
bills all through a banking app, there are no more checks.
Oracle Textura has done the same for our project accounting
teams as they accept subcontractor invoices and waivers and issue
payments. We found Textura's customer success team to be
committed, their platform to be flexible, and the process to be
easy and efficient. With Textura, we now have a standardized
payment process, across our projects that is secure and
enjoyable."
Transforming construction payment
processing
Oracle Textura Payment Management is a
cloud application that helps general contractors, owners, and
subcontractors of all sizes to simplify the billing and payments
process. With the collaboration solution, project participants can
accelerate payments, mitigate compliance risk, improve lien waiver
and compliance management, and make cash flow more predictable. The
system processes, on average $16
billion in payments each month.
"We want to thank our customers for their trust in Oracle
Textura to help them manage such a vital aspect of their
operation," said Mike Antis, global
vice president, Oracle Textura. "By implementing a collaborative
payment management solution, construction companies are not just
streamlining their payment processes, but also contributing to the
overall health and growth of their companies and the industry
overall. We are optimistic that our clients will continue to thrive
and expand in the next 12 months and beyond."
Learn how Oracle Textura Payment Management can increase
productivity and improve cash flow by reducing errors, and
mitigating financial, legal, and reputational risk.
About Oracle Construction and Engineering
Asset owners
and project leaders rely on Oracle Construction and Engineering
solutions for the visibility and control, connected supply chain,
and data security needed to drive performance and mitigate risk
across their processes, projects, and organization. Our scalable
cloud construction management software solutions enable digital
transformation for teams that plan, build, and operate critical
assets, improving efficiency, collaboration, and change control
across the project lifecycle.
www.oracle.com/construction-and-engineering.
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
