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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/oracle-textura-surpasses-1-trillion-in-construction-payments-processed-302344933.html
SOURCE Oracle
