CHICAGO, July 25, 2013 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today the launch of CPM—Business, a new version of its market-leading Construction Payment Management (CPM) solution specifically created to help General Contractors and Owners in the mid-market improve efficiencies and reduce risk in the construction payment process. The current CPM solution, used by over 300 General Contractors and Owners and nearly 60,000 subcontractors, is now called CPM—Enterprise™.
"We recognized that some General Contractors and Owners wanted the efficiencies and process improvement that our CPM solution provides, but didn't require the full suite of functionality that CPM—Enterprise offers," said Patrick Allin, Textura Chairman and CEO. "We realized this was a gap, and we wanted to address the needs of this important market segment. CPM—Business should be particularly useful to General Contractors and Owners doing five projects or more per year or a smaller number of larger projects."
Allin continued, "As the industry becomes more competitive, larger Contractors are now competing for jobs previously in the domain of mid-market firms. Companies need every advantage they can get, and our collaboration solutions have helped companies improve key construction project processes. CPM—Business gives mid-market Contractors and Owners the same tools as some of the biggest organizations in the industry, but in a version that meets their specific requirements."Designed with the mid-market Contractor and Owner in mind, CPM—Business improves billing, lien waiver collection, compliance management and payment processes by eliminating paper and automating processes. CPM—Business places the entire process online, allowing real-time access to project information. Textura has a team of sales, implementation and support experts dedicated to ensuring the unique needs of CPM—Business clients are met.