US-based general contractor McCarthy has implemented Oracle Textura, a construction payment management application, to support its payment processes.
The move is aimed at streamlining, automating, and accelerating payments to the company’s subcontractors.
Oracle Textura is designed to handle large volumes of payments and enhance process scalability.
It facilitates simplified and automated invoicing, approvals, and payment disbursement.
It also mitigates risks by implementing stricter controls and ensuring the secure management and exchange of lien waivers for automated clearing house payments.
The platform supports transparency and fosters collaboration with subcontractors.
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McCarthy has rolled out Oracle Textura across more than 200 projects, with nearly 100 of them set up within a single month.
The company has collaborated closely with Oracle Textura client services to tailor project configurations and onboard more than 1,500 users nationwide.
McCarthy applications director Ryan Moret said: “We found that only Textura offered McCarthy the ability to standardise critical payment management processes across our portfolio and enshrine best practices at scale, while also allowing for flexibility as necessary, such as for specific project needs, regional regulations, or owner requirements.”
In addition, Oracle Textura’s client services provide pre- and post-live assistance to customers at no additional cost.
McCarthy operations senior vice-president Adam Knoebel said: “With Oracle Textura supporting our payment process, inefficiencies are gone and our people can spend time on the things that they actually come to work at a construction company to do – solve problems and build.”
Oracle Textura is used by general contractors, owners, and subcontractors and has managed payments for construction projects with a combined value of more than $1tn.