MINNEAPOLIS, April 28, 2011 /PRNewswire/ -- Adolfson & Peterson Construction, one of the nation's premier general contractors providing construction management, design/build and general contracting services for a wide variety of public and private market segments, announced today that its wholly owned subsidiary, Rushforth Construction, headquartered in Tacoma, Washington, has fully adopted Textura Corporation's Construction Payment Management (Textura–CPM) system on all of their projects.
Rushforth, like Adolfson & Peterson (A&P), is utilizing Textura—CPM to provide on-line subcontractor invoicing, collection of lien waivers, automated tracking of compliance documents and electronic payments. This is delivering significant efficiencies and improved risk management, resulting in better process management, lower costs and improved profitability.
Adolfson & Peterson's CFO, Mark Pederson, explained, "The acquisition of Rushforth established A&P as a coast-to-coast construction company. Both companies had formal processes designed to ensure our clients achieve long-term value and performance from their projects. However, it was also important that both companies have aligned processes for invoicing and payment with our subcontractors."
"When we showed Rushforth staff how we use CPM in Minneapolis with our subcontractors," added Pederson, "they readily saw the benefits. Since CPM automates many of the current manual tasks we reallocated some of the responsibilities between project accounting and project management to better align roles with tasks. Once we did everyone quickly adjusted to their new responsibilities. Until now A&P has grown organically. With the acquisition of Rushforth it was important that we quickly and seamlessly embrace their activities. CPM allowed us to do that; it was the foundation for establishing a company-wide payment application process."
Patrick Allin, Textura Chairman and CEO, said "A&P has a reputation for client service, a strong safety record and their innovative use of technology. Their understanding of our technology allowed A&P to see the benefits of CPM as one of the enablers for their rapid integration with Rushforth. This is not too different than how A&P and other general contractors use CPM in joint venture situations. CPM facilitates everyone getting together electronically and acts as an enabler of process standardization. This drives a maximum ROI in the shortest timeframe."
When asked to comment on the integration process, Lorie Eaker, A&P Accounting Manager, stated, "Rushforth immediately loved CPM's ACH payments to subcontractors, compliance tracking and lien waiver tracking. But one of their concerns was the training and support that is required for subcontractors. Given staffing levels they could not handle a ton of phone calls. Our experience with Textura was that they take responsibility for on-boarding and supporting all subcontractors so I called one of our Textura support team members. Textura was responsible for everything from communication and initial set up to on-going support of all subcontractors."
CPM helped establish a single, standard process across A&P and Rushforth with improved controls, such as compliance tracking, and assured lien waiver collection and tracking, including sub-tiers, for improved risk reduction.
A&P is one of the top 50 construction companies in the U.S., providing construction management, design/build and general contracting services to public and private clients. A&P serves the K-12 school, energy, healthcare, higher education, municipal, multi-family, retail, and senior living market segments from its offices in Arizona, Colorado, Minnesota, North Carolina, Texas and Washington.
Founded in 2004, Textura has developed the only robust collaborative industry solutions for construction payment management, Textura—CPM, and for pre-qualification management, Textura—PQM.
Textura—CPM electronically integrates all construction payment management process components – billing, lien waiver collection, statutory declaration collection, sub-tier waivers, compliance management, and payments – into one seamless work flow. CPM helps contractors and others involved in construction projects realize significant efficiency benefits from automation and streamlining; and, risk reduction from improved control and visibility.
Textura—PQM automates the entire pre-qualification process for everyone by facilitating the electronic submission, review, approval and updating of all pre-qualification documents. PQM's online data management system speeds the pre-qualification process by allowing subcontractors to enter their information one-time into a database which can then produce tailored pre-qualification forms that provide specific information required by individual general contractors. PQM provides contractors with dramatic efficiency benefits and a foundation for better information and decision-making. PQM supports MWBE programs. Please visit our website at www.texturacorp.com
SOURCE Textura Corporation