CHICAGO, July 11, 2014 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today that Textura Chairman and Chief Executive Officer Patrick Allin joined executives from several other companies at the White House today to discuss SupplierPay, an initiative the Obama Administration is launching to help strengthen small businesses by increasing their working capital.
Textura was one of 26 companies invited to take part in the roundtable discussion. Companies participating in SupplierPay have committed to pay their small suppliers faster or to help small suppliers access lower-cost capital. Other participants in today's meeting included Apple, IBM, AT&T, Coca-Cola, FedEx, Johnson & Johnson, Salesforce, Intuit, and Lockheed Martin.
SupplierPay is an outgrowth of President Obama's 2011 QuickPay initiative, which requires federal agencies to expedite payments to small business contractors. QuickPay has generated over $1 billion in cost savings for small businesses, leading to greater investment and job creation, according to the White House.
"Textura's mission has always been to create technology solutions that improve performance and financial outcomes for all construction project participants. We understand that payment delays are a critical challenge for construction Subcontractors. We are honored to take part in this important effort and are encouraged that President Obama and his Administration are taking steps to address this problem for smaller suppliers generally," Allin said.
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, pre-qualification and bid management to submittals, field management, LEED® management and payment.
The Textura® 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
Lacey Faye Spang
Textura Corporation, Investor Relations
SOURCE Textura Corporation