Oracle Textura Payment Management

Oracle Textura Payment Accelerator

Oracle Textura Payment Accelerator is an optional feature for general contractors that enables you to run an accelerated payment program using existing invoicing workflows.

In this product tour, you’ll learn how to set up programs so you can provide early payments to improve subcontractor cash flow and project outcomes.

Set up payment accounts: Overview

Start by setting up dedicated payment accounts within Oracle Textura Payment Accelerator using whichever funding source you prefer, internal or external.

You can set up multiple accounts and programs to accommodate different funding sources or program rules.

Set up payment accounts: Account details

Enter the payment account information and click Save. You can set up different payment accounts for different purposes such as internal accounts, joint venture accounts, or an external funding source.

Create or edit programs: Overview

Accelerated payment programs allow your organization to set specific conditions (funding sources, enrollment text, pricing terms, etc.) that will be offered to your subcontractors as part of their enrollment. You can add new programs or edit an existing program as needed.

Create or edit programs: Settings

Define your program settings such as the program name, display name, subcontractor fee percent, funding and maturity accounts, and so on.

Create or edit programs: Enrollment

You can also define allowed invoice types, funding cutoff, and whether subcontractors will be eligible to enroll by default.

To promote your program to trade partners, add the text you wish them to see when offered the chance to enroll.

Create or edit programs: Program promotion

Finish your program setup by uploading your terms and conditions, and any banner, FAQ document, and logo you want subcontractors to see when they receive an offer to enroll in the program. Use this section to promote your program to trade partners.

Add a program to a project

Once you’ve configured a program, it can be offered on a per-project basis. You have the flexibility to adjust settings at the project, organization, and contract level.

Subcontractor enrollment: Overview

Invite subcontractors to participate via the existing billing workflow. Once they enroll, they can receive payment as soon as you approve the invoice, which can accelerate payment by several weeks. If it’s a new project, subcontractors will see the enrollment option when they accept their contract.

Subcontractor enrollment: View program details

Once subcontractors confirm their contract, and assuming you’ve invited them to participate in your accelerated payment program, they’ll be presented with the enrollment option.

This way, enrolling in an accelerated payment program is simply another step in a familiar process.

Subcontractor enrollment: Enroll or decline

Subcontractors can either enroll or decline; it’s completely optional. If they decline now, they can enroll later as part of the usual invoicing process.

Subcontractor enrollment: Confirm

If they enroll now, they will see a confirmation on their screen.

Subcontractor enrollment: Manage status

Subcontractors can easily access and manage their enrollment via their familiar user interface, suspending or resuming it as needed.

Payments and disbursement: Overview

Manage invoices, payment approvals, and disbursement with your familiar Oracle Textura workflows.

Payments and disbursement: Authorize payment

Review all approved invoices and select which ones are ready to pay. Provided there are no pay holds, you can authorize the payment and send to your disburser.

Payments and disbursement: Disburse funds

When you’re ready to disburse, simply check off the payments and click Disburse Selected.

You always have control over the timing of payments.

Dashboards and reporting

With project dashboards, project teams gain visibility into their TPA invoices. Enterprise dashboards provide program administrators with visibility into inflight invoices, upcoming cash repayment needs, and invoices nearing cutoff dates, so they can take appropriate action to ensure continued subcontractor participation.

Integrated to familiar workflows

Payment acceleration is an extension of existing Textura Payment Management billing workflows for general contractors and subcontractors, with similar integrations to your accounting system so you can easily operate your programs at scale.

Flexible, configurable settings

You have full control over how to fund, configure, and offer programs that make financial sense for you and your trade partners.

Early, predictable payments

Subcontractors can manage their enrollment from their familiar invoicing user interface, opting in when they want to receive payments earlier and on a predictable schedule.

Oracle Textura Payment Management Cloud Service with optional Payment Accelerator

With Oracle Textura, you can benefit from increased efficiency via streamlined processes, reduced risk around compliance, and greater visibility into payments. With Payment Accelerator, you can give trade partners the option to receive accelerated payments and payment timing certainty.

Oracle Textura Payment Management

In this product tour, learn how Oracle Textura simplifies construction payment processes with

• Streamlined workflows and automation
• Compliance and lien waiver management
• Payments
• Collaboration tools
• Reporting and analytics
• Accounting system integration
• Dedicated client services

Standardized and secure payment management workflows: invoicing

Automatically generate accurate invoice documents—such as G702 or G703 forms—that are linked to each contract’s schedule of values.

Each document is signed electronically using an integration with DocuSign, which is provided at no additional cost.

Standardized and secure payment management workflows: compliance

Collect electronically signed invoices, lien waivers, sworn statements, and unconditional lien waivers.

Configure additional compliance documents and compliance requirements to ensure all project requirements are met. You and the extended project team can centrally track everything from one place.

Standardized and secure payment management workflows: approvals

Accelerate invoice review and the generation of payment applications with highly configurable and secure approval workflows and automated notifications. Oracle Textura provides everyone with visibility and insight into the status of tasks and activities related to payment workflows.

Standardized and secure payment management workflows: owner billing

Quickly roll up subcontractor invoices into the general contractor’s owner billing, eliminating dual data entry.

Generate or print all the owner billing documents with the "print draw documents" functionality, making a tedious task easy to accomplish in seconds.

Engineering work package

When the systems are integrated, relationship management is automated in terms of documentation, status and access, drawings, and specifications that support the scope of work within the context of the engineering work package (EWP). The EWP digitally informs the status of engineering readiness to the CWP, as well as the Primavera P6 schedule, so that project managers can transparently see what work has been completed thus far and how much work is remaining.

Effective compliance and lien waiver management: tracking

Collect and track conditional and unconditional subcontractor and sub-tier lien waivers as well as any compliance document or requirement, such as standard compliance, periodic or recurring, or rules-based compliance.

Effective compliance and lien waiver management: supplier tracking

Set up supplier tracking programs at the enterprise level to support diversity initiatives or at the individual project level to track per-project attainment.

You can also create categories and classifications to automate compliance reporting.

Effective compliance and lien waiver management: notifications

Check the compliance status of each requirement and automatically send relevant notifications. All parties get visibility into lien waiver and compliance status and any related payment holds resulting from noncompliance so issues can be quickly addressed.

Effective compliance and lien waiver management: enforcement

Enforce the use of standardized forms, including lien waivers and invoices. Prevent unauthorized or fraudulent payment activity from occurring.

What customers are saying about compliance and lien waiver management

Alston Construction provides general contracting, construction management, and design-build services for an array of industries and projects. In the last decade, they’ve grown from roughly US$200 million in revenue to more than US$2 billion today, and Textura has been supporting their growth through the years.

Timely electronic payment: lien waiver exchanged for payment

Set up the secure digital exchange of current, unconditional, and e-signed lien waivers for payments made through the automated clearing house (ACH) network.

Timely electronic payments

Stop cutting and delivering paper checks. Simplify and expedite payments using ACH payments. You also have the ability to pay sub-tiers directly if required.

Timely electronic payments: disbursement tracking and notifications

Track invoicing and disbursements and notify all stakeholders at every stage in the process. Automated deposit notifications help reduce in-house and subcontractor payment status inquiries.

Timely electronic payments: payment holds

Automate payment holds for lien waiver or compliance deficiencies. Ensure the general contractor never pays a subcontractor unless all the required documents are accounted for.

Timely electronic payments: payment acceleration

Help subcontractors overcome working capital challenges by offering early payment programs integrated with your payment workflows.

Oracle Textura Payment Accelerator is an optional feature that enables a general contractor to create and run accelerated payment programs that they can offer to their subcontractors.

What customers are saying about timely electronic payments

Wood Partners is one of the largest multifamily real estate developers in the US. As an owner-developer, they deal with several hundred subcontractor invoices each month as well as all the related contracts, compliance documents, compliance requirements, lien waiver collection, and payments.

Collaboration in a shared environment

Work efficiently with all stakeholders (owners, general contractors, and subcontractors) in a shared environment.

Easily communicate about missing or out-of-date documentation, errors, compliance requirements, payment holds, or payment statuses.

Collaboration in a shared environment: status reports

View the real-time status of all lien waivers and invoices. Whether you are an owner, general contractor, or subcontractor, you will see the right data for your role. This ensures project teams and subcontractors have full visibility into compliance status to proactively address issues.

Collaboration in a shared environment: auditing and security

Use the logs for version control of payment materials in a shared cloud workspace. All user actions, electronic signatures, and payment documents are preserved for auditing purposes.

Hosted on Oracle Cloud Infrastructure, you have secure access, SSL encryption, two-factor authentication, single sign-on, and so on.

What customers are saying about collaboration

Commodore Builders, a midsize general contractor based in the Boston, Massachusetts, area, fiercely focuses on their clients’ needs. From the smallest fit-out to the most challenging out-of-the-ground construction project, this award-winning builder can do it all.

Comprehensive reporting and analytics: reporting

Enable on-demand and configurable reporting. Track status and performance with more than 90 predefined general contractor, subcontractor, audit, and draw reports, including supplier and sub-tier diversity tracking.

Comprehensive reporting and analytics: analytics

Analyze projects, subcontractors, draw budgets, invoices, payments, and subcontractor status. Track performance with dashboards and analytics to easily see and communicate key project and portfolio metrics. Data services allow you to access data with your own analytics applications.

What customers are saying about reporting and analytics

As a national and international design-build, general contracting, and construction management firm, Evans General Contractors provides cost-effective solutions and comprehensive project development to clients across a broad spectrum of markets. They implemented Oracle Textura Payment Management in 2015.

Integration, implementation, training, and client services

Textura is committed to providing an exceptional customer experience through tailored, relevant services for the entire duration of the customer journey.

What customers are saying about client services

Newly launched, Four Peaks Building Group is on a rocket-like trajectory as a respected commercial general contractor in Phoenix, Arizona. With a combined 78 years of deep industry experience among the founders, they understand that building a winning construction company takes more than hammers and nails.

Oracle Textura Payment Management

Boost efficiency in construction payment management with streamlined and accurate billing, timely payments, and effective compliance controls. Prevent errors and delays with process automation and gain visibility into downstream payments to lessen the risk of disruption.

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