Commodore Builders Selects Textura-CPM to Improve Subcontractor Payment Process

Fast-Growing Construction Manager Welcomes Scalable Process Efficiencies from Textura's Online Invoicing and Payment Collaboration Solution

17 Nov, 2015, 16:01 ET from Textura Corporation

CHICAGO, Nov. 17, 2015 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that commercial construction management firm Commodore Builders is using Textura's Construction Payment Management™ (CPM®) solution to optimize its invoicing and payment processes and support business growth.

"Our organization is growing very quickly, and the process improvements and efficiencies enabled by Textura-CPM can help us pursue further growth without a corresponding increase in administrative and accounting staff," said Dave Jolin, Chief Financial Officer of Commodore. The company ranks No. 271 on Engineering News-Record's 2015 "ENR 400" list of the largest general contractors, based on 2014 revenues of $224 million.

Jolin, who joined Waltham, Mass.-based Commodore earlier this year, had worked with CPM at his previous company and recognized the value Textura's collaboration technology could bring to Commodore. "I've seen firsthand the improvements CPM brings by making payment and compliance management much more efficient and transparent for general contractors and subcontractors alike," he said.

A web-based Software-as-a-Service (SaaS) offering, Textura-CPM streamlines and automates invoicing and payment activities to boost productivity, visibility and control. CPM electronically integrates all construction payment management processes – including billing, lien waiver collection, process claims, statutory declarations, sub-tier waivers, compliance management and electronic payments – into a seamless online workflow that facilitates collaboration across project participants.

Commodore manages projects in an array of sectors, including healthcare, historic restoration, hospitality, institutional/academic, interiors, life science/technology and multi-unit housing. The company has a comprehensive project portfolio that ranges from complex new construction projects to tenant interior fit outs. The firm plans to use CPM on all future projects.   

"Commodore's decision to use CPM underscores how the scalability of our technology can benefit fast-growing organizations," said Mike Antis, Executive Vice President of Client Services at Textura. "We're thrilled that Commodore's new CFO is working to replicate his previous successful experience with CPM, and we look forward to being a partner in their continued growth and success."

About Commodore Builders    Commodore Builders provides clients with a wide range of construction management services, from project conception to pre-construction, execution, closeout and warranty service. Commodore's mission is to make the construction process easy for clients and the outcome excellence in execution. The firm is listed annually as a top place to work in Massachusetts and is a dedicated charitable contributor. For more information, please visit www.commodorebuilders.com.

About Textura Textura is a 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, pre-qualification and bid management to submittals, field management, performance management, LEED® management and payment. With award-winning technology, world-class customer support and consistent growth, Textura is leading the construction industry's technology transformation.  www.texturacorp.com   

Contact: Emily Ries, Textura Marketing emily.ries@texturacorp.com 847-457-6536 Investor contact: Annie Leschin, StreetSmart IR 415-775-1788 ir@texturacorp.com

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SOURCE Textura Corporation



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