Urban Oaks Builders LLC Selects Textura to Manage Construction Payment Management Process
CHICAGO, Nov. 25, 2013 /PRNewswire/ -- Textura® Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today that Urban Oaks Builders LLC, a general contractor formed in 2011 to manage multifamily construction for Hines, has selected Textura—CPM™ to enhance efficiency and improve cash flow in the construction payment management process.
"Textura—CPM offers a more efficient way to collect billings, track compliance and collect lien waivers," said Keith Borchardt, Controller of Urban Oaks Builders. "Since it is an online solution, we can eliminate the need for paper and automate processes that we had been previously performing manually, which will lead to productivity gains and cost savings."
Textura—CPM replaces the stacks of paper invoices and lien waivers with electronic documents that are easier to approve, track and store. By automating processes, CPM™ reduces the time associated with payments and lien waiver collection from days to mere minutes, improving efficiency across an organization.
"The cost savings and efficiencies of scale that Textura—CPM offers us will be important as we continue to grow," said Borchardt. Urban Oaks Builders works across the United States with regional offices in Atlanta and Houston.
"In a short time, Urban Oaks Builders has created a solid reputation in the multifamily sector," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "We're very pleased that they have chosen our solutions to help improve efficiencies and lower costs in the construction management payment process."
Urban Oaks Builders has nearly 1318 units in 5 projects in various stages of construction for Hines' Multifamily Division. They are located in 4 cities across the United States, including Atlanta, Denver, Houston, and St. Petersburg, FL.
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