One of the Nation's Top Contractors Reduces Paper and Automates Processes with Textura Construction Payment Management.
CHICAGO, June 25, 2013 /CNW/ - Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today that Walbridge, one of America's largest privately owned construction companies, has successfully deployed Textura-CPM to process $2 billion dollars of subcontractor payments over the last four and a half years as part of their GreenWISE (Walbridge Intelligent Sustainability and Environmental) program.
"Textura's functionality marries well with Walbridge's corporate philosophy of 'Lean and Sustainability,'" said Christine Nowak, Assistant Vice President at Walbridge. "Utilizing a Lean tool to perform value stream mapping, Walbridge performed a current state versus future state assessment; this quickly showed a 50 percent timesaving in the invoicing process. Textura's online workflow and centralized electronic document hub contribute to this improvement. We also find the electronic payment and open communication to subcontractors very attractive features of CPM."
General Contractors such as Walbridge use Textura—CPM to automate invoicing and lien waiver collections, make electronic payments, increase document compliance and improve reporting. A web-based solution, CPM increases collaboration among project stakeholders by providing access in real-time to up-to-date information, a feature that was a major factor in Walbridge's decision.
Nowak added, "Walbridge strives for the leanest approach in processing over three hundred invoices a month. Through implementation of an electronic data interface we achieve a seamless flow of data to and from Textura—CPM and our other corporate applications, providing savings in both time and data entry errors. We have processed over 17,000 invoices error-free using Textura."
In 2012, Walbridge reached No. 45 on Engineering News-Record's list of Top 400 U.S. Contractors based on 2012 revenue of $1.29 billion. Walbridge has more than 1,000 employees and maintains operations through the United States, Canada, Mexico, South America, and the Middle East.
Ben Penzick, Client Service Manager at Textura, stated, "Walbridge is a leader in sustainability. Textura's online data entry and document review and approval process provides for a very 'green' and paperless process that goes hand-in-hand with deploying sustainable principles and practices used throughout the Walbridge Enterprise."
"Walbridge has joined our expanding group of general contractors who have seen the benefits Textura solutions can deliver," said Patrick Allin, Chairman and Chief Executive Officer at Textura Corporation. "We're pleased that a contractor as innovative as Walbridge has chosen our solutions to help increase efficiency. We look forward to playing a role in their continued success."
Walbridge was founded in 1916 in Detroit and has grown to become one of America's largest privately owned construction companies. The company has expertise in several market segments, including: airports, automotive, commercial, education, energy and power, government, healthcare, industrial process, manufacturing and water/wastewater.
An industry pace-setter in development of new ideas and methods for quality construction, Walbridge is committed to staying safe, enhancing sustainability, lowering cost and maximizing long-term project value. For more information, please visit www.walbridge.com
Textura is the leading provider of collaboration and productivity tools for the construction industry. Our solutions serve all construction industry professionals across the project lifecycle – from takeoff, estimating, design and pre-qualification to bid management, submittals, LEED® management and payment – on a single, integrated platform.
Textura's collaboration platform and online product suite represent the first time the industry has all the tools needed to manage their business in an integrated fashion to save time and money and reduce exposure to risks. With award winning technology, world-class customer support and consistent growth, Textura is leading the construction industry's technology transformation. www.texturacorp.com
SOURCE: Textura Corporation
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