CHICAGO, May 25, 2016 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that commercial builder Exxel Pacific is using Textura's Construction Payment Management™ (CPM®) solution to streamline its invoicing and payment processes and support the company's growth.
"Using CPM has standardized our payment management activities and improved productivity by making the entire process much more efficient and transparent. With a centralized system for all invoices and payments, the draw process is much faster, and we can be confident everything is accurate," said Molly Zimmerman, Chief Financial Officer at Exxel Pacific.
A web-based Software-as-a-Service (SaaS) solution, Textura-CPM integrates key construction payment management processes - including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers, compliance management and payments - into a seamless, online workflow that facilitates collaboration across project participants. By providing automation and standardization of document generation, routing and approval, CPM gives construction companies such as Exxel Pacific more control, improves accuracy, enhances visibility and helps mitigate risk.
Founded in 1989, Bellingham, Wash.-based Exxel Pacific is a leader in multi-family and commercial development across the West Coast. The company ranks No. 265 on Engineering News-Record's 2016 ENR 400 list of the largest general contractors, up from No. 310 in the previous year's ranking. Revenues rose to $263.0 million in 2015, according to ENR's rankings.
Subcontractors' favorable view of Textura-CPM also played a role in Exxel Pacific's decision to embrace the solution. "We wanted to be sure any change would also benefit our subcontractor partners," Zimmerman said. "When we asked, we heard about many positive experiences, so we felt very comfortable moving forward knowing our subcontractors would be happy with the move to CPM," she said, noting that the company also welcomes the paperless benefits of online invoicing and payment.
"CPM offers fast-growing organizations such as Exxel Pacific the ability to handle increasing workloads by boosting efficiency and productivity, while also providing the same benefits for their project partners," said David Kelly, Executive Vice President of Client Services for Textura. "The support of Exxel Pacific's subcontractor community is a terrific validation of our efforts to provide value to all CPM users working to achieve superior project outcomes," Kelly said.
About Exxel Pacific
Founded in 1989 by Sid Baron, Chairman of the Board, and Kevin DeVries, Chief Executive Officer, Exxel Pacific Inc. grew out of the development activities of Exxel Development Group, an active multi-family and commercial development company in northwest Washington. Exxel Pacific provides valuable pre-construction services to many clients and believes the time spent early in development provides for a higher quality project. Exxel Pacific has continued to grow and has become a leader in commercial construction throughout the West Coast. www.exxelpacific.com
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, 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
Annie Leschin, StreetSmart IR
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SOURCE Textura Corporation