Milestones Achieved Through Textura's Construction Payment Management

* Reuters is not responsible for the content in this press release.

Tue May 19, 2009 10:00am EDT

Industry adoption and commitment to Textura's construction payment processing
services drive record user levels

CHICAGO, May 19 /PRNewswire/ -- Textura Corporation announced today, during
the CFMA conference in Las Vegas, a milestone achievement as further evidence
of its leadership position in construction invoicing, lien waiver collection
and payment processing.  Last month the number of users of Textura's
construction payment application exceeded 30,000.  Patrick Allin, Textura
Chairman and CEO stated, "We are pleased with this level of adoption and
growth and the strong validation that our service offering creates real value
for our clients.  By using Textura general contractors and subcontractors
eliminate half of the manual steps associated with their monthly project draw
process."

Supporting transaction volumes are just as impressive.  Allin advised that in
the four and a half years since inception Textura has electronically generated
and processed nearly 1 million draw documents.  These include payment
applications, lien waivers and affidavits.  On these documents Textura
captured over 750,000 electronic signatures. 

Allin commented, "In 2008 we added 78 General Contractors and Developers as
clients.  Despite the current economic climate - or perhaps because of it - we
are on pace in 2009 to significantly exceed last year's market success. 
General Contractors seem to have a bit more time today to study ways to
capture savings in their businesses.  Textura typically helps a General
Contractor save between $10,000 and $20,000 per project.  That level of
savings is hard to ignore when revenues are tight for most General
Contractors."  

Allin added, "I am happy to say that our services have been well accepted
globally.  The same systems and processes used in construction in the US are
nearly identical globally.  We have offices in the Middle East and in London
and a growing client base.  Having multiple markets in which to operate allows
us to better serve our larger, global clients."  

More information about Textura is available at www.texturacorp.com.  Founded
in 2004, Textura has developed the only robust, end-to-end offering that
integrates all construction payment management process components into one
seamless work flow, helping contractors and others involved in construction
projects realize significant benefits from automation and streamlining.  






SOURCE  Textura Corporation

Geoff Gitelson, Executive Vice President of Sales, North America of Textura,
+1-847-235-8491, geoff.gitelson@texturacorp.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.