CHICAGO, May 20, 2015 /PRNewswire/ -- Textura® Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that it has launched PerformanceTracker™, an online collaboration solution that transforms the performance evaluation process for general contractors to yield data-driven, actionable insights and full visibility into the performance of subcontractors and other project partners.
A cloud-based solution, Textura's PerformanceTracker streamlines and automates subcontractor performance evaluation, eliminating the inefficient and cumbersome manual processes that have long hindered general contractors' efforts to collect and leverage critical performance data. The highly customizable solution uses configurable online evaluation forms, workflows and notifications to reduce administrative tasks and to drive completion of all performance evaluation activities.
PerformanceTracker seamlessly integrates with the Textura-Construction Payment Management® (CPM®) solution, enabling general contractors to easily import subcontractor and project information from Textura's invoicing and payment solution. In addition, PerformanceTracker can be configured to automatically initiate evaluations when certain events are recorded in CPM, such as invoice submission or approval, or the completion of a contract.
The PerformanceTracker solution provides robust reporting functionality to enable more informed decision making. By synthesizing vendor performance data to show key metrics at a glance, the tool lets general contractors see how a vendor is performing on some or all projects. In addition, PerformanceTracker compares the performance of all vendors on a particular project, as well as allowing general contractors to measure and compare the overall performance of their construction projects.
To enhance risk management, PerformanceTracker generates alerts to flag safety incidents or critical performance issues to program managers and executives, enabling them to take corrective action before problems worsen. In addition, archiving of evaluation data makes it easy for organizations to access and audit that information if necessary.
"Like all of our solutions, PerformanceTracker arose out of a key business challenge for our clients. We heard from numerous general contractors that they've struggled with subcontractor performance evaluations, due to unwieldy processes, significant administrative burdens, and difficulties managing and analyzing the information. This new solution addresses those challenges and gives general contractors a powerful new data-driven tool to mitigate risks, improve performance and make more informed decisions about vendor selection," said Jason Barnes, Product Manager at Textura Corporation.
"PerformanceTracker represents a key step in the realization of our vision of an integrated platform of collaboration solutions that improve outcomes across the construction project lifecycle," said Mike Antis, Executive Vice President of Client Services for Textura. "By integrating PerformanceTracker and CPM, we have enabled a flow of project data across key activities. This link unlocks additional value in both solutions, enabling general contractors to better manage their subcontractor relationships in a holistic and strategic way."
More information is available at www.performancetracker.com.
Textura is a 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
Annie Leschin, StreetSmart IR
Emily Ries, Textura Marketing
SOURCE Textura Corporation