Milestones Achieved Through Textura's Construction Payment Management
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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
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