Streetlights Residential Uses Textura-CPM to Standardize Construction Payment Management
CHICAGO, Dec. 5, 2013 /PRNewswire/ -- Textura® Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced that Streetlights Residential, one of the premier developers of urban multifamily and mixed-use communities in the country, incorporated Textura CPM—Enterprise™ into their business processes from the first day the company was founded in 2012.
"We recognized that in order for our new company to be successful, we needed structure and standardization for the construction payment management process, and that Textura—CPM™ was the best solution to achieve this," said Rob De Bruin, President of Construction, Streetlights Residential. "We were familiar with the struggles of managing subcontractor payments through a manual process, such as the physical exchange of documents, the increased potential for errors, collecting trailing lien waivers and the lack of clarity and visibility. CPM has helped us avoid all these issues."
By eliminating the stacks of paper typically involved in the payment process, Textura—CPM also reduces costs and enhances productivity and efficiency. "Textura is supporting our growth in the Texas market by allowing us to expand with minimal administrative and accounting overhead," said De Bruin. Based in Dallas, Streetlights Residential performs work across Texas.
"Using Textura—CPM as the foundation of their payment management process, Streetlights Residential has gained a significant competitive advantage," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "As they continue to grow, our collaboration solutions will continue to provide them with the tools to increase efficiency and enhance productivity."
About Streetlights Residential
Streetlights Residential is a development company focused on luxury urban multifamily and mixed-use projects. The team has worked on premier developments in Texas, managing the process from acquisition and financing, design, construction and marketing. Streetlights Residential expands traditional development with thoughtful consideration of a project's positioning, design, and quality construction. For more information, please visit www.streetlightsres.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