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Revamping Payment Systems in Construction
The Oracle Textura Payment Management Cloud Service represents a significant step forward in the digital evolution of the construction industry. This cloud-based platform is engineered to optimize billing, payment processing, and compliance for both contractors and subcontractors.
For procurement teams, this innovative system revolutionizes their operations by speeding up payment cycles, lowering compliance risks, enhancing cash flow predictability, and facilitating the management of lien waivers and related compliance documents.
By simplifying these processes, the platform not only saves valuable time but also brings clarity and uniformity to payment workflows in construction. On average, it processes about $16 billion each month, underscoring its essential role in promoting efficient and secure procurement activities.
With the removal of manual tasks and the introduction of clear payment tracking, teams can concentrate on their primary responsibilities, thereby alleviating administrative pressures.
Tim Nottoli, the CIO of Walsh Group, shares his thoughts: “In my personal life, I handle all my bill payments through a banking app—gone are the days of writing checks. Oracle Textura has brought that same convenience to our project accounting teams, who can now manage subcontractor invoices, waivers, and payments seamlessly.”
“We have found Textura’s customer support to be dedicated, their platform to be adaptable, and the overall process to be straightforward and efficient. Thanks to Textura, we now enjoy a standardized payment process across all our projects that is both secure and user-friendly.”
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