Sundt Construction, Inc. Uses Textura®-CPM to Manage Sub-Tier Payments and Lien Waivers

TEMPE, Ariz., Feb. 14, 2012 /PRNewswire/ -- Sundt Construction, Inc., one of the country's largest and most respected general contractors known nationally for its innovative approach to construction services, announces that they have extended their use of Textura's Construction Payment Management™ (CPM) system to help manage invoicing and payment to their second tier subcontractors.  Sundt was one of Textura's first customers to use CPM with their prime subcontractors in 2006. 

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Kevin Burnett CPA CCIFP CRIS, Senior Vice President, The Sundt Companies, Inc., explained, "In the current economic climate, the risk of default by contractors and material suppliers is very real.  As a general contractor it only makes sense to mitigate that risk to the extent possible through direct payment to sub-tier organizations.  This is especially important when working on Federal projects where the full onus for managing lien risk falls on the general contractor.  CPM makes the process seamless."

Patrick Allin, Textura Chairman and CEO, stated "Risk mitigation is a cornerstone of Textura's systems.  In designing the CPM application we spent a good deal of time researching the current joint check process and the inefficiencies of today's manual activities.  Leveraging our collaborative technology we are able to automate and streamline the entire process while providing benefits to the general contractor, prime subcontractor and sub-tier contractor.  Everybody wins." 

"Textura allows the prime subcontractor to retain full control over the approval of their subcontractors' invoices," clarified Allin.  "Electronic collection of invoices and lien waivers reduces their costs over the manual process and speeds delivery of their pay application to the general contractor.  Sub-tiers can be confident that the general contractor has knowledge of their involvement on the project and that they will be paid in a timely manner through a direct electronic payment.  This simplifies the entire invoicing and payment process." 

Barbara Terry, Senior Project Administrator, Sundt Construction, further explained "By paying the second tier subcontractors through the Textura system we receive current signed unconditional lien waivers directly from the sub-tiers without waiting on the prime sub to manually provide them.  It saves us and them hours every month tracking down lien waivers.  CPM also can track compliance documents for sub-tiers and automatically notify them of impending expirations and non-compliance, just as the system does for prime subcontractors." 

"We're pleased to see Sundt use the full capabilities of CPM in such a robust manner. They are an innovator in the industry and their insights have helped us develop our functionality to better meet the complex needs of today's contractors.  Sundt has been a key client since we launched CPM in the Phoenix market and we are very proud to have them as a client," commented Patrick Allin.

Kevin Burnett concluded, "Direct payment of sub-tiers is an importance piece of our risk mitigation plan and Textura makes it easy.  Being able to see that our sub-tiers have been paid gives us the confidence to know that we are protected."

About Sundt Construction, Inc. 
Sundt Construction, Inc. is one of the country's largest and most respected general contractors. Known nationally for its innovative approach to construction services, the firm is currently ranked the 45th largest construction company in the United States by ENR, the industry's principal trade magazine. www.sundt.com 

About Textura
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 design and pre-qualification to bid management, submittals 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