CHICAGO, Feb. 17, 2011 /PRNewswire/ -- Textura Corporation, the leading provider of collaboration solutions for the construction industry, continues to achieve high levels of client satisfaction and expanded use across Textura's growing customer base.
Textura—Construction Payment Management (CPM) application has now managed over $60 billion in construction projects with over $30 billion currently on system. Current statistics – over $1 billion per month in payments, 65,000 users and 1,000,000 web pages a week. Textura—CPM grew 100 percent again in 2010 and growth is accelerating entering 2011.
Patrick Allin, Textura Chairman and CEO stated, "To achieve this level of growth in a difficult market means we are delivering real value to our clients. Until now the focus for many of our clients has been the efficiency benefits of our applications. Cost savings of $10,000 to $20,000 per project have been well documented. With the current market challenges we are seeing more clients focus on the risk reduction benefits of our applications."
"Textura's CPM application enhances our clients' lien waiver collection and compliance tracking," continued Allin. "Our PQM application raises the rigor and standard for pre-qualification. Both combine to create a platform that truly mitigates many of the legal, payment and performance risks typically encountered on a construction project."
Many industry leading contractors are significantly increasing their use of CPM – indicating their growing satisfaction with Textura's business solution and the powerful CPM application. In 2010 Gilbane, Swinerton, PCL, Ryan Companies, Walbridge and many other Textura clients added hundreds of additional projects to the CPM system. Textura—CPM is now used by over 25 percent of the ENR 400.
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