CHICAGO,
June 9, 2016 /PRNewswire/
-- Textura Corporation (NYSE: TXTR), a leading provider of
collaboration solutions for the construction industry, announced
that national construction management company Shawmut Design and
Construction has seen significant gains in the efficiency of its
payment management process – including speeding up subcontractor
payments – since implementing Textura-CPM™.
"By streamlining, automating and standardizing our
process, CPM has transformed how we work, benefitting both Shawmut
and our project partners," said Shelley
Almeida, AP Reporting Manager for Shawmut. "With the
efficiencies provided by CPM, we have experienced a significant
decrease in the time required to process payments to
subcontractors," she said.
Shawmut is No. 59 on the ENR 400, Engineering
News-Record's annual ranking of the
largest general contractors. The company specializes in building
impressive projects for clients within Academic, Retail, Restaurant
and Sports Venues markets.
Shawmut implemented Textura-CPM in 2014. A web-based
Software-as-a-Service (SaaS), Textura-CPM electronically integrates
all construction payment management processes - including billing,
lien waiver collection, progress claims, statutory declarations,
sub-tier waivers, compliance management and payments - into a
seamless, online workflow.
Construction managers like Shawmut gain both efficiency
and full visibility into the real-time flow of construction project
information, helping them to mitigate risk, standardize processes
and documents, and increase control. In addition to getting
paid faster, Shawmut's subcontractors
experience reduced administrative effort and costs, enabling them
to focus resources on value-added activities. Subcontractors also
benefit from simplified and streamlined communications, improved
lien waiver processes, and better visibility into payment and
compliance status.
"Shawmut's experience
demonstrates the value that CPM can deliver to all stakeholders in
the payment process," said Mike
Antis, Executive Vice President of Client Services for
Textura®. "With more efficient processes reducing
administrative burdens and improving outcomes for both general
contractors and subcontractors, CPM is enabling these organizations
to operate more effectively and position themselves for further
growth and success," he said.
About Shawmut Design and Construction
Shawmut Design and Construction is a $1.2 billion national construction management
firm with a reputation for completing extremely complex and
logistically challenging projects for the most high-profile clients
in the industry. As an ESOP (employee-owned) company, Shawmut has
created a culture of ownership, proactive solution-making, and
forward thinking. Eighty percent of its business comes from repeat
clients proving there is a strong focus on building lasting
partnerships.
Shawmut's unique business
model allows project teams to better service clients by focusing
their specialized expertise within one of the following areas:
Academic, Tenant Interiors, Cultural & Historic, Healthcare
& Life Sciences, Hotel, Restaurant, Retail, and Sports Venues.
Shawmut has offices located in Boston, Providence,
New York, Miami,
Las Vegas, and Los Angeles. For more information, please
visit
www.shawmut.com.
About Textura
Textura is a 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,
pre-qualification and bid management to submittals, field
management, LEED® management and payment. With
award-winning technology, world-class customer support and
consistent growth, Textura is leading the construction
industry's technology
transformation.
www.texturacorp.com
Contact:
Emily Ries
Textura Corporation,
CPM
Marketing
emily.ries@texturacorp.com
847-457-6536
Investor contact:
Annie Leschin, StreetSmart
IR
ir@texturacorp.com
415-775-1788
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SOURCE Textura Corporation
