CHICAGO, Aug. 22, 2013 /PRNewswire/ -- Textura Corporation, the leading provider of collaboration solutions for the construction industry, is announcing that ICON Builders has been utilizing the selected Textura—CPM system to improve their construction payment management process and enhance their document compliance tracking capabilities. ICON specializes in the renovation and new construction of multi-family and senior apartment projects throughout the Western United States.
"Our previous system lacked the level of controls and automation that we desired," said Marianne Laupp, CFO, ICON Builders. "We had to manage the payment process manually, which meant a lot of time and resources spent chasing paper. With Textura, we have more control over the process, so now the President receives an automatic notification to authorize payments before subcontractors are paid, allowing us to proactively place holds, if necessary. We also have the ability now to pull real-time financial data reports, for example to see the status of a payment, which has been very beneficial."
Textura—CPM streamlines the construction payment process by eliminating the stacks of paper associated with a construction project and automating communications between stakeholders by placing the entire process online. Contractors, such as ICON Builders, have access to project information in real-time and can track documents electronically, rather than sorting through paper.
"Textura allows our third-party insurance administrator to update the insurance directly into the system so subcontractors can see their current compliance status," said Laupp. "This has increased visibility and lowered our risk. Textura—CPM also interfaces smoothly with our accounting system, streamlining the project initiation process and eliminating the need for us to enter subcontractor invoice data."
"ICON Builders has experienced how our solutions can improve the payment process as well as improve document compliance," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "An organization that operates over a large geographic area as ICON Builders does needs to have a firm grip over the flow of documents, and our solutions provide them with that ability. We look forward to helping them with their continued success."
ICON Builders specializes in the renovation and new construction of multi-family and senior apartment projects. Our projects range from government assisted affordable housing properties through luxury apartments. ICON Builders has been in continuous operation as a general contractor since 1984. We specialize in the renovation of tax credit, bond and HUD properties which all have inherent year end deadlines that we have always met, on time and on budget.
We have a passion for excellence, an eye for detail and over 60 years of building experience that has produced more than 17,000 residential units in California, Arizona, Nevada, New Mexico and Washington State. For more information, please visit www.iconbuilders.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 and pre-qualification to bid management, submittals, 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