SAN FRANCISCO, March 1, 2011 /PRNewswire/ -- The Swinerton Family of Companies, one of the leading providers of commercial construction and construction management services throughout the Western United States, announced today that they have fully adopted Textura Corporation's Construction Payment Management (Textura–CPM) system on all of their projects. They are utilizing Textura—CPM to provide on-line subcontractor invoicing, collection of lien waivers, automated tracking of compliance documents and electronic payments. This is delivering significant efficiencies and improved risk management, resulting in lower costs, better process management and improved profitability.
Swinerton Incorporated's Senior VP and CFO, Linda Schowalter explained, "Swinerton Incorporated and subsidiary companies have established a corporate-wide initiative to 'Go Green' and become paperless while also improving communication within the company and with our business partners, including our subcontractors. After reviewing multiple options on the market, Swinerton made the decision to use Textura which assists us with both of these initiatives."
Textura—CPM creates electronic invoice documents which are reviewed and approved on-line or marked up and returned to the subcontractor for re-submission. The system automatically creates matching electronic lien waivers which are electronically signed and notarized. Compliance tracking supports electronic submission of required compliance documents. Payments are made electronically via ACH. CPM's robust functionality eliminates the need for paper documents while dramatically improving the communication among project participants.
When asked to comment on the implementation process, Phyllis Smith, Vice President and Treasury Manager, Swinerton Incorporated, stated, "Following the initial use of Textura on three projects during a 'Proof of Concept' stage, Swinerton planned a phased implementation by region. As expected there was an initial learning curve as all stages of implementation were initially met with challenges related to the technical and cultural change. A top notch [Textura] Client Service team was assigned to Swinerton who diligently worked side-by-side with Swinerton at each stage. Their commitment to client service facilitated success with Project Team learning, resulting from behavioral and procedural change."
The Proof of Concept allowed Swinerton to fully develop their desired process and to confidently roll it out across the organization. Five regions were implemented in three months. The Project Team assumed that all new and existing projects were good projects to put on Textura—CPM and that exceptions for existing projects would be handled on a one-off basis. As it turned out there were very few exceptions. The rapid implementation allowed Swinerton to attain a single, standard process across the organization with improved controls, such as subcontractor invoice deadlines to manage accounting closes, and assured lien waiver collection for improved risk reduction.
Patrick Allin, Textura Chairman and CEO, said, "Swinerton's has a reputation for being technology savvy. They are a leader in LEED, Green, BIM, Design-Build, IPD, and Lean construction technologies. We are delighted to have them as a client and were not surprised that they clearly understood the benefits of a quick implementation. That approach allows ROI objectives to be more rapidly achieved and allows them to deliver best value and process to their owners and subcontractors."
After four months of introduction, training, and in-process project conversion, Swinerton has well over a hundred projects on Textura—CPM. Allin continued, "The leadership provided by the Swinerton team created a very successful implementation of CPM. Textura is very pleased to partner with the Swinerton Family of Companies to provide collaborative services to them, their owners and subcontractors throughout the Western United States."
The Swinerton Family of Companies provides commercial construction and construction management services throughout the Western United States and is consistently ranked among Engineering News-Record's (ENR) Top 50 General Contractors in the U.S. Established in 1888, Swinerton formally incorporated in the State of California in 1908 and holds California Contractor License No. 92. Today, Swinerton offices are located throughout California, in Colorado, Hawaii, Texas, Oregon, New Mexico and Washington.
Swinerton's family spirit and values have been the foundation of the Company's success for more than 120 years. These values are evident today, deeply embedded in the culture of the Company, and provide the foundation for successive generations of leadership. As a 100% employee-owned company, everyone at Swinerton has a vested interest in the successful delivery of superb services.
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