City and County of Denver Adopts Textura-CPM to Speed Payments and Improve Efficiency One of the Nation's Most Prominent Building Programs to Speed Payments and Improve Efficiency with Textura.
CHICAGO, June 27, 2013 /PRNewswire/ -- Textura Corporation (NYSE: TXTR) , the leading provider of collaboration solutions for the construction industry, announced today that the City and County of Denver, one of America's favorite cities and known as the "Mile High City," is using Textura-Construction Payment Management (CPM) to automate construction project invoicing and to speed payment to contractors on all Denver Public Works construction projects.
The City and County of Denver will use CPM to achieve a paperless billing process. All Public Works construction projects will utilize CPM to electronically collect invoices and lien waivers for all project participants. Subcontractors will be paid via direct electronic payments into their bank accounts.
Terri Goodwin, Contracts Manager for Denver Public Works, stated "We've made the decision to implement Textura-CPM on city projects to improve the efficiency of our internal processes and to get our Prime Contractors paid faster. Knowing that we have complete and accurate data and all current lien waivers for every invoice allows us to process each pay application in a matter of days rather than weeks."
The 1,100 men and women of Denver Department of Public Works (DPW) deliver the services that help to define the quality of life in Denver. DPW construction project responsibilities include design and construction management of streets, bridges, and public buildings; transportation planning, engineering and operations offices; and, protection of the urban environment.
Textura Chairman and Chief Executive Officer, Patrick Allin, commented, "We are very excited that a major government entity like the City and County of Denver has chosen to implement Textura-CPM. CPM is a scalable, flexible solution and for all types of construction projects and we are confident that Denver and its contractors will quickly realize its productivity and risk mitigation benefits. Colorado has always been on the forefront of sustainable technology solutions, and we are proud to provide Denver with an efficient, green solution for invoice processing and payment management."
About Denver Department of Public Works – City and County of Denver
The Department of Public Works, through its employees, provides for the delivery of high quality, cost effective, efficient, safe services involving public infrastructure and facilities to enhance the quality of life in Denver. Denver Public Works improves the quality of life in Denver by managing and maintaining streets, alleys, drainage ways, sewers, bridges, traffic signals, street markings and signage, parking, trash and recycling collection, and public infrastructure.
Textura is the leading provider of collaboration and productivity tools for the construction industry. Our solutions serve all construction industry professionals across the project lifecycle - from takeoff, estimating, design and pre-qualification to bid management, submittals, LEED® management and payment - on a single, integrated platform.
Textura's collaboration platform and online product suite represent the first time the industry has all the tools needed to manage their business in an integrated fashion to save time and money and reduce exposure to risks. With award winning technology, world-class customer support and consistent growth, Textura is leading the construction industry's technology transformation.
SOURCE Textura Corporation