The Pike Company Selects Textura-CPM to Streamline Construction Payment Management Process

CHICAGO, Sept. 10, 2014 /PRNewswire/-- Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today that The Pike Company, a commercial General Contractor / Construction Manager based in upstate New York with offices across the country, has selected the Textura-CPM™ solution to help the growing company optimize the construction payment management process.

"We were re-introduced to Textura-CPM when we merged with LECESSE Construction Services, LLC," said William Tehan, CPA, EVP, CFO and Secretary, The Pike Company. "LECESSE has been using the Textura-CPM since 2010, and we were very impressed by how efficient the billing process was, so we decided to move forward with the solution as well." The Pike Company, which was founded in 1873, merged with LECESSE December 31, 2012.

Textura-CPM helps General Contractors improve the billing process by electronically integrating billing, lien waiver collection, sub-tier waivers, compliance management and payments into one continuous workflow online. A Software-as-a-Service (SaaS) solution, Textura-CPM replaces unproductive, paper-heavy manual processes with more efficient, automatic online processes that increase productivity and collaboration.

"Before we started using Textura, our invoicing and payment processes were very manual. For example, we received subcontractor invoices in many methods, often with errors.  We also struggled to manage compliance holds effectively and track lien waivers, which can vary per client or project," said Tehan. "With Textura-CPM, we are now paying our subcontractors much quicker electronically rather than by check, and we've automated our lien waiver collection process to seamlessly track customized lien waivers per project. The entire billing process has become more efficient, and our staff can now focus on tasks more valuable to the business rather than chasing paper."

Another advantage that Textura offers The Pike Company is the ability to integrate with their current accounting system. Textura integrates with a variety of job cost, accounting, imaging and document management systems, reducing data entry points and eliminating data-entry errors.

"We are very pleased that a company with the reputation and the history of The Pike Company has started to use our solutions to improve efficiency and enhance productivity," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "As the adoption of our solutions grows, more and more General Contractors are recognizing the value that our software brings. We look forward to supporting The Pike Company and LECESSE Construction in their continued success."

About The Pike Company
Established in 1873, The Pike Company has maintained its standing as one of the Northeast's leading Builders with a rigorous focus on project management, work quality, and client satisfaction. Pike's long list of projects and repeat customers demonstrates our success at maintaining long-term relationships, exceeding expectations, and completing an array of challenging jobs, large and small, on schedule and within budget. For more information, please visit www.pikeco.com.

About LECESSE Construction
LECESSE Construction is an innovative construction management firm with offices and affiliates in Albany, NY, Altamonte Springs, FL, Charlotte, NC, Cleveland, OH, Hartford, CT, New York, NY, Richmond, VA and Rochester, NY. We concentrate our work in New York, New England, the Mid-Atlantic, Mid-West and Southeastern states. For more than 60 years, we have constructed or renovated a multitude of public and private buildings specializing in senior housing, healthcare facilities, and higher education centers. We continue to set the standard for quality, professionalism, and innovation as a trusted consultant to create value and provide productive solutions to our clients. Understanding today's business climate allows us to combine our professional skills, diversity, and relentless pursuit of excellence to meet and exceed our clients' expectations.

LECESSE takes pride in our professional affiliations and community contributions. We encourage our people to be leaders in their professional organizations and in their communities. As an organization we value honesty, integrity, good work, continuous learning and the respectful treatment of our extended company family and associates.  Our Mission: From concept to completion we build it as if it's our own.
www.lecesseconstruction.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 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

Contacts:
Lacey Faye Spang
Textura Corporation, Investor Relations
[email protected]  
847-943-3547

Emily Ries
Textura Corporation, CPM Marketing
[email protected]
847-457-6536

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SOURCE Textura Corporation