CHICAGO, July 15, 2015 — (PRNewswire) — Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that leading West Coast general contractor Webcor Builders has selected the Textura-Construction Payment Management™ solution to optimize its subcontractor payment processes.
San Francisco-based Webcor is a full-service general contractor that uses advanced technology and processes to deliver projects from entitlements through preconstruction, construction and warranty/building services. It recently ranked No. 50 on Engineering News-Record's 2015 ENR 400 listing of top general contractors, based on 2014 total revenue of $1.16 billion.
"Before we started using Textura-CPM, we had a long, drawn-out invoice approval process that required significant oversight to manage," said Bob Kane, Vice President of Webcor. "CPM streamlines and automates our payment and compliance processes, significantly increasing productivity and reducing risk," said Kane, who noted that Webcor is working to rapidly implement CPM across its portfolio. "Our staff can now focus on work that is more valuable to the business, rather than chasing paper and performing time-consuming manual tasks," he added.
A web-based, Software-as-a-Service (SaaS) offering, Textura-CPM™ electronically integrates all construction payment management processes — including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers, compliance management and electronic payments — into a seamless online workflow.
Kane also noted that, historically, payments sometimes were slowed by simple errors that subcontractors made when submitting billings and lien waivers. "Textura-CPM eliminates these errors and has improved the entire process, allowing us to collect lien waivers electronically and speeding up approvals and payments. That, in turn, has strengthened our subcontractor relationships," he said.
Webcor, which was founded in 1971, operates out of four California offices and one in Honolulu. The general contractor has worked on numerous high-profile projects, including: the Transbay Transit Center in San Francisco; San Francisco General Hospital; California Memorial Stadium at the University of California, Berkeley; the L.A. Live special events center in Los Angeles; and the Millennium Tower, the tallest structural concrete building in San Francisco. Among other recognitions, Webcor was named ENR California's Top Contractor of the Year in 2014.
"Having a company with the reputation and stature of Webcor select CPM is a testament to the value of our technology," said David Kelly, Executive Vice President of Client Services for Textura. "We're excited that Webcor has joined the growing list of major general contractors that have chosen Textura-CPM to improve payment management outcomes for all involved."
About Webcor Builders
Webcor Builders was founded in 1971 and has operated offices continuously in California since then. Webcor is known for its innovative and collaborative, high-performance approach to construction, wide range of experience, cutting edge technology, skill in concrete construction, and expertise in building iconic and sustainable projects. The company has completed over 60 million square feet of projects to date. In 2014 Webcor became the first California-based General Contractor to earn ISO 9001: 2008 certification for its Quality Management Program.
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
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SOURCE Textura Corporation