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Collaboration software that improves cash flow and reduces late payment issues

Textura-Construction Payment Management™ (CPM™), a leading global solution, is an innovative platform for automating and standardising the supply chain payment workflow. Supporting compliance with the Construction Act, it integrates with existing systems to drive-out costly errors, increase visibility and reduce risk.

By eliminating and automating manual processes, CPM will strengthen control, reduce costs and boost cash flow for your business.

The cloud-based solution brings all project participants and financial data together in one collaborative platform – and provides the information necessary to make critical business decisions.

Superior value to all project participants for sustained business relationships

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 Keep the project within budget

  • Visibility of the project’s financial status across all key metrics
  • Payment performance tracking across the entire supply chain
  • Mitigating risk factors and strengthening budget control
  • Financially intact, legally correct project documentation

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Win a competitive edge & improve cash flow

  • Enhance margin and working capital through the early payment of subcontractors
  • Increase efficiency and productivity by automating subcontractor payment processes
  • Reduce risk through increased visibility into project financial status
  • Ensure compliance with the UK Construction Act
  • Simplify collection of Authenticated Reciepts and management of subcontractor CIS status
  • Solidify subcontractor relationships through insight into payment status

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Be paid on time & leverage business growth

  • Streamlined, standardised payment processes reducing the risk of delays
  • Visibility into valuation status, certified value and expected payment amount
  • Access to Early Payment, if and when required
  • Integrated compliance management

The current payment process is heavily reliant on manual processes, often rife with errors, culminating in a lack of visibility of liabilities and cash flow at the executive level.

Textura Construction Payment Management is an innovative cloud-based system for automating and standardising this workflow. Supporting all common forms of contract and compliance with the Construction Act, it integrates with existing back-office systems to drive-out costly errors and reduce risk by:

  • Automating payment processes – removing manual data entry, flagging key dates, tracking documents and notifying any pending actions to ensure successful completion
  • Ensuring compliance with the requirements of the Construction Act and the Directive 2011/7/EU of the European Parliament and of the Council, upcoming reporting requirements and open book forms of contract
  • Automating subcontractor payment holds for missing or expired compliance items
  • A shared portal ensures that all project participants understand their financial position, minimising the opportunity for disputes

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The many challenges of supply chain payment can be solved by moving the process online, acting as a single repository for the disparate ‘islands’ of financial data related to the project. ‘Islands’ of data exist in accounting systems, document management systems, project management software, the numerous documents relating to the project and the untracked communication between all the project participants.

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CPM brings all stakeholders and financial data together in one collaborative platform, providing clarity, consistency and collaboration to the construction payment process, enabling:

  • Better visibility into project financial position
  • Tighter auditing, reporting and risk controls
  • Better integration between project and finance teams
  • Financially intact, legally correct information – better collaboration with the supply chain
  • Improved control of costs through insight into the data behind applications, certifications and variations
  • Improved accuracy of accruals, CVR and cashflow forecasts whilst gaining insight into any unsurfaced liabilities

Textura-CPM™ is uniquely designed to complement and add value to your existing accounting or document management systems by extending real-time project financial data to and from our systems – resulting in dramatically reduced processing costs through the elimination of manual processes.

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The process model connects your existing technology, your supply chain and all project participants to improve visibility, accuracy, and efficiency of your payment processes, allowing:

  • Simplified and standardised Application for Payment process ensuring consistency throughout your commercial team and the supply chain
  • Automated processes eliminates manual steps, data entry and paper which drives significant cost savings – and allows the commercial team to focus on driving value
  • Automatic creation of required payment documents, calculating progress amounts and quantities with retention plus any applicable VAT

With the addition of integrated supply chain finance, CPM can provide early payment options for subcontractors, plus project finance for main contractors. With Textura’s Early Payment Program, an integrated supply chain finance, subcontractors have access to third-party funding and to low-cost, non-recourse cash.

  • Eligible subcontractors benefit from an option to have early payment via the optional Early Payment Program (EPP)
  • The accelerated payment is discounted and creates addition margin for main contractors
  • Combining our financing partner, Greensill Capital’s expertise in Supply Chain Finance with Textura CPM addresses the major limitations of bank-led schemes
  • Simple administration and streamlined payment process is critical to serve the ‘long tail’ of the construction supply chain
  • We provide the financial ability to scale to support any project portfolio through Greensill Bank and capital market funds from the likes of Morgan Stanley

In the long term, by building better working relationships, making prompt payments and working with integrity – the industry must focus on building a better and more sustainable future, based on honourable business practices and fewer late payments.

  • Be recognised as a ‘contractor of choice’ and attract, retain and monitor a strong supply chain – by addressing their issues; lack of visibility, weak cash flow and late payment
  • Textura support the entire supply chain – reinforcing subcontractor relationships and lowering your administrative costs
  • Collaborative working underpins our entire operation
  • The supply chain benefit from collaboration, transparency and payment certainty – subcontractors can see where they are in the process
  • Training and support for all project participants included

Learn more about CPM™