IDC Construction Implements Textura Construction Payment Management System for Hospitality Construction Projects
WOODSTOCK, Ga., Feb. 25, 2013 /PRNewswire/ -- IDC Construction, a general contractor specializing in hotel renovation and hotel construction, announced the implementation of Textura® – Construction Payment Management (CPM) across its entire portfolio of projects.
IDC is using the Textura CPM system to streamline the entire payment application process, including standardizing invoice and lien waiver collection across projects, increasing the efficiency in its collection of draw documents from subcontractors, and facilitating a faster, secure method of paying subcontractors through the ACH network.
Steve Henshaw, CFO of IDC Construction, said "IDC has grown dramatically over the past eighteen months, expanding its service across a broad range of hospitality projects. Textura CPM has allowed us to provide our clients with the peace of mind of consistent, accurate draw documents, and also to facilitate paying our subcontractors quickly."
The CPM application allows IDC to facilitate the management of multiple projects for owners, such as Extended Stay America, Marriott, and Holiday Inn, in a secure, centralized way. This affords IDC a competitive advantage in providing these owners with access to real-time project data, billing information, and documents.
Patrick Allin, Textura CEO, stated "CPM has provided IDC executives with a clear view into the financial status of multiple projects, allowing the team to view aggregate subcontract exposure, change orders, and billed amounts. Textura CPM has given IDC a way to expand its business without adding substantial cost to its operation."
Henshaw added, "Process standardization is an added benefit of using CPM beyond the efficiencies and risk reduction that are inherent in the application. We like the ability to electronically pay our contractors and suppliers without having to courier checks."
IDC Construction delivers a complete range of services to our clients who include premier leaders in the industry such as InterContinental Hotels, Marriott, Hilton and LXR Resorts. We specialize in hotel renovations and understand the unique demands of working in an operating hotel. Founded in 1995 as Impac Design & Construction, we established ourselves as a national leader in the hospitality industry. In 1999 the principals of IDC formed IDC CONSTRUCTION, LLC. an independent General Contracting firm.
IDC's team has completed over $600 million in hotel renovations of all types, quickly and cost effectively. With our previous track record as the renovation arm of one of the largest owner / operators of hotels in the country, IDC has the owner's perspective and expertise to meet your requirements and exceed your expectations.
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 – on a single, integrated platform.
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
More by this Source
Ryder Construction Optimizes Payment Process with Textura
Dec 10, 2013, 07:30 ET
Streetlights Residential Uses Textura-CPM to Standardize Construction Payment Management
Dec 05, 2013, 16:01 ET
LATISTA™ Brings BIM to the iPad for Optimum Project Collaboration
Dec 03, 2013, 07:30 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.