Construction Financial Professionals Will Have an Opportunity to Learn About Textura's Groundbreaking Early Payment Program, CPM Solution
CHICAGO, June 10, 2015 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that it will take part in the upcoming Construction Financial Management Association (CFMA) Annual Conference & Exhibition to showcase Textura® solutions.
During the event, which provides educational and networking opportunities for construction financial professionals, Textura will exhibit solutions that benefit such professionals, including Textura-Construction Payment Management™ (CPM®) and its new Early Payment Program™ (EPP™).
A web-based Software-as-a-Service (SaaS), Textura's CPM solution integrates all construction payment management processes – including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers and compliance management – into a seamless, online workflow. General contractors can use the collaboration solution to initiate monthly draws, review compliance documents, collect signed lien waivers and make payments.
EPP is an innovative alliance between Textura and financial services company Greensill Capital that enables general contractors to offer an accelerated payment option to subcontractors. With EPP, general contractors using CPM can arrange third-party funding through Greensill Capital that is used to pay subcontractors earlier than their normal payment timing. Subcontractors benefit from improved cash flow, while general contractors can see balance sheet improvements, reduced subcontractor default risk and better relationships with their project partners, among other benefits.
"We have numerous clients who are members of CFMA, and this event is a great opportunity to educate a key industry group about our solutions," said Mike Antis, Executive Vice President of Client Services for Textura. "Construction financial professionals have long recognized the benefits of CPM, including significantly improved operational efficiency and much greater visibility into project financials. We believe that our new EPP offering will greatly enhance the value Textura can deliver to their organizations."
CFMA's Annual Conference & Exhibition will be held June 27 – July 1 in Chicago. Textura will exhibit at booth #221.
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, performance management, LEED® management and payment. 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 Corporation