Crescent Communities Adopts Textura to Create Payment Synergy for all Construction Project Participants
CHICAGO, Aug. 29, 2013 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced that Crescent Communities, a leading real estate investment, development and operations company, has selected Textura—CPM to improve collaboration between all participants involved in multifamily construction projects.
"The main benefit of Textura for us is the standardization for all of our multifamily projects," said Jared Ford, Senior Vice President of Construction for Crescent Communities Multifamily Group. "Textura provides us with standardized process and documents, so we can perform the same process the same way across our organization."
For Owners such as Crescent Communities, Textura—CPM consolidates and streamlines project finance management, financial reporting and account reconciliation. With Textura—CPM, subcontractor costs are automatically rolled-up into the general contractor pay applications, which eliminates the need to verify and compare Subcontractor costs on the general contractor form. With the information stored in a centralized database, all project participants can access real-time information, which streamlines the draw process and enhances collaboration.
"Textura has enabled us to automate a lot of processes that we were performing manually," said Ford. "This means we can have our staff focus on more valuable tasks than chasing paperwork. We also have more timely disbursements, which has increased our partnership with our contractors and subcontractors."
"As one of the premier real estate development companies, we're very proud that Crescent Communities has chosen our solutions to enhance collaboration," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "We're confident that they will see immediate benefits and be able to reduce risk while strengthening the relationships they have with their contractors."
About Crescent Communities
Founded in 1969 in Charlotte, Crescent Communities is a diversified real estate investment, development and operations company dedicated to enhancing the quality of life for people through sustainable multifamily, residential and commercial communities and responsible land management. Crescent's portfolio today includes 27 master-planned communities, including its signature Palmetto Bluff, as well as 16 multifamily projects with 4,600 units under construction or in planning/pre-development. The company owns and manages approximately 72,000 acres, including 1,400 acres zoned for commercial use. For more information, please visit www.crescentcommunities.com.
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 design and pre-qualification to bid management, submittals and payment.
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. www.texturacorp.com
SOURCE Textura Corporation