Oracle Textura Payment Management

Score9.7 out of 10

9 Reviews and Ratings

What is Oracle Textura Payment Management?

A construction payment management application that helps general contractors, owners, and subcontractors simplify and automate the draw process. Reduces risk by securely managing lien waivers and compliance. Increases visibility to downstream payments to minimize the risk of disruption and ensure the entire supply chain is paid on time for work completed.

Categories & Use Cases

Invoice Control
Allows users to create and send invoices to customers for payment.
Category average: 9.5
Automatic Reminders
Sends automated reminders to customers with overdue invoices to prompt payment.
Category average: 9.6
Dispute Resolution
Provides tools for managing and resolving disputes with customers regarding invoices or payments.
Category average: 8

Integration with Accounting Systems:
Allows for seamless integration with other accounting software, enabling a smooth flow of data between systems.
Category average: 7.5
Aging Reports
Generates reports that show the age of outstanding invoices, helping users identify and prioritize collections efforts.
Category average: 7.7
Financial Reports
Generates reports that provide an overview of accounts receivable, allowing users to analyze trends and make informed decisions.
Category average: 7

#1 most frequent

Construction

66.1%

37 installations of 56

#2 most frequent

Professional, Scientific, and Technical Services

7.1%

4 installations of 56

#3 most frequent

Real Estate and Rental and Leasing

5.4%

3 installations of 56

Verified User

Manager in Finance and Accounting (1001-5000 employees employees)

Use Cases and Deployment Scope

We are a subcontractor and our GC's use Textura to track their subs. We have done a couple of demos to implement it for our subs, but we had some internal issues and had to pause moving forward. Compared to doing the process manually, we save a significant amount of time getting signatures and such.

Pros

Signatures + notary.
Lien waiver tracking.
Sends reminder emails.
Informs us when a draw is open.

Cons

Signatory workflow - Logging into the signatory and notary in the same process. There isn't as much separation as there could be.
We could use a place to put in our job number. Running reports to ensure we billed everything in our system matches what's in Textura isn't easy because there are different job names.
If our authorized signer inadvertently fails to execute the application and the GC closes the draw period, it appears as though the pay application was never submitted. From what I can see, there is no clear audit trail reflecting that it had been prepared or pending signature prior to the draw closing.

Return on Investment

We’ve reduced billing-related back-and-forth with GCs.
Lien waiver compliance is more controlled and tracked.
Cash flow is easier to predict because we receive payment notifications when they are initiated.

Usability

Alternatives Considered

Procore

Other Software Used

Procore

Verified User

Manager in Information Technology (1001-5000 employees employees)

Use Cases and Deployment Scope

The product provides a platform for us to pay our trade partners and to manage their schedule of values. It also provides integrations between itself and our ERP system to automatically maintain contracts, payments, and change orders. Textura also keeps us up to speed with industry best practices for managing trade partners.

Pros

Integration
Product Support
Customer Success
Customer engagement

Cons

Permissioning granularity
Integration interface
Reporting and data access

Return on Investment

Automation
Integration
Simplicity

Usability

Alternatives Considered

Procore

Other Software Used

Vena, ServiceNow IT Operations Management

Matthew Diluzio View profile

CFO in Finance and Accounting at Silverwood Landscape Construction (501-1000 employees employees)

Use Cases and Deployment Scope

We use Oracle Textura Payment Management when our clients require it. It replaces the need to send invoices each month manually and consolidates the monthly draw process into a well-organized and easy solution.

Oracle Textura Payment Management is easy to learn, very intuitive, and allows us to submit invoices in a way that eliminates mistakes and confusion on both sides. Submitted draws are easy to track and payment notifications are emailed allowing us to know exactly when we will receive our funds.

Pros

AIA Billing
ACH Payments
SOV Management
Communications
User Management
Compliance Holds

Cons

Task Management needs a "Mark all as Read" or similar function. They pile up per job and are only able to be completed using certain links and processes.
Payment Notification emails should include payment details including amount(s), joint check info, and check numbers.
Projects should be able to be removed or archived by the subcontractor. We have jobs showing on our home page that are 3+ years since completion.
Retention billing is very confusing and should be communicated more clearly. There should also be a button that allows for all retention to be billed at once rather than having to type in the amount per line item.
Sub-Tiers should not be a menu to click through if there are no sub-tiers for a sub.

Return on Investment

Oracle Textura Payment Management has dramatically improved our AR process (when the GC uses it). We wish that every job used it so we wouldn't have to deal with the dozens of builder-specific invoicing processes each month. Before Oracle Textura Payment Management, each builder had specific process we had to follow in order to get paid. After GCs started to use it, we have been able to consolidate multiple clients and jobs into a single easy-to-learn and easy-to-teach process that allows us to submit invoices easily and track when we are going to get paid.

Usability

Alternatives Considered

Procore and GCPay

Oracle Textura Payment Management

What is Oracle Textura Payment Management?

Categories & Use Cases