April 3, 2012
, the leading provider of collaboration solutions for the construction industry, announced that Construction Payment Management (CPM) has been significantly enhanced for invoicing via unit prices and quantities.
"Contractors now have additional controls available," stated John Smith, CPM Solution Architect. "Unit prices, quantities and units of measure can now be specified on the contract or set by the subcontractor enabling greater flexibility in how invoicing is managed. Most importantly, subcontractor billings can now roll up into an owner billing based on quantity billed or percent complete in addition to the current dollar billing capability. This means owner billing on unit based projects is now automated for general contractors who use CPM."
Unit information can be configured on some or all contracts, allowing a project to be flexibly managed to accommodate both unit and lump sum contracts. Change orders can be allocated as quantities or dollars across contract and budget line items.
, Textura Chairman and CEO, explained, "This new unit-based functionality is another example of listening and responding to our clients' needs. Our customers with Civil or Industrial divisions requested these enhancements. Now all contractors working on unit-based construction projects such as Civil / Government, Industrial, Highway and Military can benefit from CPM. This functionality also supports purchase order based invoicing. We anticipate high interest in this enhanced capability."
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 design and pre-qualification to bid management, submittals 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.