Hunt Companies Selects Textura--CPM to Automate the Billing Process and Manage Lien Waiver Tracking
CHICAGO, Feb. 27, 2014 /PRNewswire/ -- Textura® Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced that Hunt Companies, a national developer, investor and manager of real assets, replaced a customized solution designed to generate lien waivers with Textura CPM—Enterprise™ during a recent ERP upgrade.
"Without Textura—CPM, we would have had to prepare and track lien waivers manually with the new version of our ERP solution," said Kathy Manship, Vice President, Hunt Companies. "We had a custom program built in the previous version of our ERP system that automated the issuance and tracking of lien waivers, but we could not justify the cost to upgrade and maintain in the new version. We looked for a solution to collect and manage both prime and sub-tier lien waivers, and we found that CPM™ exceeded our requirements."
Textura—CPM™ is an award-winning Software as a Service (SaaS) solution that electronically integrates all construction payment management process components including billing, lien waiver collection, compliance and payments, into one seamless workflow. Designed for the construction industry, CPM has the flexibility to integrate with a variety of job cost, accounting, scheduling, planroom, imaging and document management systems. Textura—CPM revolutionizes the construction payment management process by placing it online, eliminating manual, inefficient processes and enhances productivity.
"Another key benefit is that CPM provides automated data entry of Subcontractor billings into our ERP system," said Manship. "Our project team previously entered billing data at the full schedule of values detail level into the system, but that's all done automatically now. We've also automated compliance tracking and payments, all of which have made us more efficient." Hunt's operations span the continental U.S. and Hawaii, with over 90,000 multifamily units built, more than 70,000 housing units in public/private partnerships, 1.3 million square feet of commercial space, over $6.4 billion in total development and more than $8.2 billion in construction costs.
"Hunt Companies joins our growing roster of over 300 major General Contractors and 45,000 Subcontracting organizations to use Textura—CPM," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "We are pleased that an organization with the stature of Hunt Companies is using our collaboration solutions to lower costs and increase efficiency."
About Hunt Companies Inc.
Hunt Companies, Inc. is a national developer, investor and manager of real assets. Founded in 1947 and headquartered in El Paso, Texas, Hunt has more than 1,200 employees across the United States. Together, Hunt and its affiliates have $24.8 billion in assets under management, including 278,408 multifamily units and 5.7 million square feet of office, retail and industrial properties. Hunt has also developed 90,000 housing units, over 1.3 million square feet of commercial space and thousands of acres of land.
Hunt has offices throughout the United States, including in Atlanta, Boston, Chicago, Columbia (SC), Dallas, Denver, El Paso, Honolulu, Los Angeles, Memphis, Miami, New York, Philadelphia, Sacramento, San Francisco and Washington D.C., and international offices in Abu Dhabi, London and Mexico City. To learn more about Hunt, please visit www.huntcompanies.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 takeoff, estimating, design, pre-qualification and bid management to submittals, field management, LEED® management 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