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TheStreet Open House

Textura--Pre-Qualification Management™ Reaches $15 B In Client Construction Value

CHICAGO, Sept. 26, 2013 /PRNewswire/ --  Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced today a milestone achievement as further evidence of its leadership position in prequalification.  Recently, Textura-PQM surpassed $15 B in client construction value across the US and Canada.  Textura—PQM, an enterprise-wide solution, automates, enhances and simplifies the entire pre-qualification process.  Patrick Allin, Textura Chairman and CEO stated, "This level of growth and acceptance is very gratifying.  We believe it is a strong validation of the value our solution creates for our clients." 

(Logo:  http://photos.prnewswire.com/prnh/20110602/CG12932LOGO)

"We chose Textura—PQM as our prequalification solution over two years ago and have never regretted it," said Dick DeVries, Director of Enterprise Risk, The Boldt Company.  "I continue to be impressed with the speed and quality of system enhancements that Textura has produced since our January 1 st 2012 rollout, in response to our feedback.  It reflects their commitment to collaboration to continuously improve the PQM system for Boldt and our trade partners.  We did an exhaustive search when choosing a prequalification platform and have no doubt that PQM was and is head and shoulders above other options." 

The Boldt Company, based in Wisconsin, has 15 offices throughout the United States and provides professional construction services to customers in a variety of markets nationwide.  As with other General Contractors, The Boldt Company uses PQM™ to  collect and save  required prequal documents online, including uploaded attachments for financials, certificates of insurance, and bonding information – anything that meets project requirements. 

Significant enhancements for all contractors have been delivered regularly over the last eighteen months, including:

  • Advanced financial analytics – automatically calculated based on general contractor specifications
  • Vendor dashboard – to see prequalification status at-a-glance
  • Integration to general contractor prequalification systems facilitate ease of subcontractor data collection but review through proprietary systems
  • Improved review workflow – to support the largest organizations and outside advisor participation
  • Subcontractor library enhancements – for step-by-step instructions and stop-and-resume data input.

"We are constantly looking for ways to streamline the qualification process from both the subcontractor and general contractor viewpoints," said Jonathan Halloran, EVP, Client Services, Textura Corporation.  "We listen to our clients, who are some of the most progressive and advanced companies in the industry, and use their feedback to develop new features that support their experience."  

Textura—PQM replaces the traditional, paper-laden and inefficient approach to pre-qualification with automated, online processes.  Powered by a sophisticated workflow, PQM allows users to issue invitations, send submissions and review all related information online.  By placing the process online PQM increases collaboration by allowing project stakeholders access to pre-qualification information anywhere at any time.  

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