Gilbane Building Company Announces Nationwide Adoption of the Textura Construction Payment Management (CPM) System to Improve Profitability, Reduce Risk

PROVIDENCE, R.I., Feb. 14, 2011 /PRNewswire/ -- Gilbane Building Company, one of the nation’s leading providers of Construction Management and related services, announced today that they will utilize Textura Corporation’s Construction Payment Management (Textura–CPM) system on all of their projects nationwide. Gilbane Building Company will use Textura–CPM to automate Subcontractor invoicing, collect Subcontractor lien waivers, track compliance requirements, and disburse payments electronically to Subcontractors. This will increase efficiency, reduce risk, improve profitability, and create better process management for Gilbane.

Gilbane's Chairman and CEO Thomas F. Gilbane, Jr. commented, "Textura's suite of products addresses many long-standing technology needs in the construction industry. Specifically, Textura–CPM is the only industry solution that fully automates the billing and payment process. Implementing Textura accelerates our strategy of applying leading edge technologies to strengthen our bottom line."

The decision furthers Gilbane Building Company's commitment to continuously improve Subcontractor relations through shorter pay cycles and more rapid issue resolution. Moreover, Gilbane expects to achieve improved risk mitigation, efficiency gains for both corporate and project staff, and process standardization across all regions in the US. Textura–CPM enables Gilbane's increasing focus on Green/Sustainable design and construction by reducing paper use and the transportation required to exchange paper documentation.

"Having Gilbane Building Company fully implement is a significant event in the history of our firm," according to Pat Allin, Chairman & CEO, Textura Corporation. "Gilbane is a world-class construction organization and a name that is held in the highest esteem in the industry. Their decision to fully implement Textura–CPM is a testament to the value and return on investment that our service provides."

Gilbane Building Company is using the Textura–CPM system on dozens of construction projects across the United States. The significant, measureable benefits achieved led to Gilbane's decision to adopt the Textura–CPM solution nationwide.

About Gilbane Building Company

One of the nation's oldest builders, Gilbane was founded in 1873 by William Gilbane as a family-run construction firm in Providence, Rhode Island. Today, fourth generation members of the Gilbane family lead the company. The firm, with more than $4 billion of work-in-place annually, is now one of the leading providers of CM and related services in several major construction markets.

About Textura

Founded in 2004, Textura has developed the only robust collaborative industry solutions for construction payment management, Textura–CPM, and for pre-qualification, Textura–PQM. Textura–CPM integrates all construction payment management process components into one seamless work flow, helping contractors and others involved in construction projects realize significant benefits from automation and streamlining. Textura–PQM automates the entire pre-qualification process for all parties by facilitating the electronic submission, review, approval and updating of all pre-qualification documents.

For more information about Gilbane Building Company, visit www.gilbaneco.com. For more information about Textura Corporation, visit www.texturacorp.com.

SOURCE Textura