ARCO Streamlines Construction Payments with Oracle Textura
ARCO, a national design-build construction firm, has implemented Oracle Textura Payment Management to streamline its construction payment processes. The system has enhanced invoice management, secure lien waiver handling, and subcontractor collaboration. In the first three months, ARCO has onboarded 700 in-house employees and 10,000 subcontractors to the platform, which integrates with their existing Vista Construction Accounting Software. Oracle Textura, which has managed payments for construction projects valued at over $1.5 trillion, provides ARCO with improved audit trails, payment visibility, and secure centralized management of lien waivers.
ARCO, una società nazionale di costruzioni che opera con il metodo design-build, ha implementato Oracle Textura Payment Management per semplificare i propri processi di pagamento nel settore edile. Il sistema ha migliorato la gestione delle fatture, la gestione sicura delle rinunce ai diritti di garanzia e la collaborazione con i subappaltatori. Nei primi tre mesi, ARCO ha registrato 700 dipendenti interni e 10.000 subappaltatori sulla piattaforma, che si integra con il loro attuale software di contabilità Vista Construction. Oracle Textura, che ha gestito pagamenti per progetti di costruzione valutati oltre 1,5 trilioni di dollari, fornisce ad ARCO migliori tracciamenti di audit, visibilità dei pagamenti e una gestione centralizzata sicura delle rinunce ai diritti di garanzia.
ARCO, una empresa nacional de construcción que aplica el método de diseño y construcción, ha implementado Oracle Textura Payment Management para optimizar sus procesos de pago en la construcción. El sistema ha mejorado la gestión de facturas, el manejo seguro de las renuncias de gravámenes y la colaboración con los subcontratistas. En los primeros tres meses, ARCO ha incorporado a 700 empleados internos y 10,000 subcontratistas a la plataforma, que se integra con su software de contabilidad de construcción Vista. Oracle Textura, que ha gestionado pagos para proyectos de construcción valorados en más de 1.5 billones de dólares, proporciona a ARCO mejores auditorías, visibilidad de pagos y una gestión centralizada segura de las renuncias de gravámenes.
ARCO는 국가 디자인-빌드 건설 회사로서 건설 결제 프로세스를 간소화하기 위해 Oracle Textura Payment Management를 구현했습니다. 이 시스템은 인보이스 관리를 개선하고, 안전한 유치권 포기 처리 및 하도급업체 협업을 강화했습니다. 처음 3개월 동안 ARCO는 700명의 사내 직원과 10,000명의 하도급업체를 플랫폼에 등록했습니다. 이 플랫폼은 기존의 Vista Construction Accounting Software와 통합됩니다. Oracle Textura는 1.5조 달러 이상의 가치가 있는 건설 프로젝트의 결제를 관리해왔으며, ARCO에게는 개선된 감사 추적, 결제 가시성 및 안전한 유치권 포기 중앙 관리 기능을 제공합니다.
ARCO, une entreprise nationale de construction qui adopte le mode de conception-construction, a mis en œuvre Oracle Textura Payment Management pour rationaliser ses processus de paiement dans le secteur de la construction. Le système a amélioré la gestion des factures, le traitement sécurisé des abandons de privilèges et la collaboration avec les sous-traitants. Au cours des trois premiers mois, ARCO a intégré 700 employés internes et 10 000 sous-traitants à la plateforme, qui s'intègre à son logiciel de comptabilité de construction Vista. Oracle Textura, qui a géré les paiements pour des projets de construction d'une valeur supérieure à 1,5 trillion de dollars, fournit à ARCO de meilleures pistes d'audit, une visibilité des paiements et une gestion centralisée sécurisée des abandons de privilèges.
ARCO, ein nationales Design-Build-Bauunternehmen, hat Oracle Textura Payment Management implementiert, um seine Zahlungsprozesse im Bauwesen zu optimieren. Das System hat das Rechnungsmanagement, die sichere Handhabung von Verzichtserklärungen und die Zusammenarbeit mit Subunternehmern verbessert. In den ersten drei Monaten hat ARCO 700 interne Mitarbeiter und 10.000 Subunternehmer auf der Plattform begrüßt, die mit ihrer vorhandenen Vista Construction Accounting Software integriert ist. Oracle Textura, das Zahlungen für Bauprojekte im Wert von über 1,5 Billionen Dollar verwaltet hat, bietet ARCO verbesserte Prüfpfade, Zahlungstransparenz und eine sichere zentrale Verwaltung von Verzichtserklärungen.
- Integration with existing Vista Construction Accounting Software enhances operational efficiency
- Successful onboarding of 10,700 users within three months shows rapid adoption
- Platform manages construction projects valued at over $1.5 trillion, demonstrating proven scalability
- None.
Insights
The implementation of Oracle Textura by ARCO represents a significant operational enhancement that could positively impact Oracle's enterprise solutions revenue stream. The platform's management of payments for projects valued at over
The successful implementation could serve as a compelling case study for Oracle to attract more large construction firms, potentially expanding their market share in the construction payment management sector. The emphasis on secure lien waiver management and improved subcontractor relationships adds valuable risk management features that could drive further adoption.
ARCO's adoption of Oracle Textura marks a strategic shift in construction payment management, addressing key industry pain points. The platform's ability to handle high-volume payments while maintaining security and compliance is particularly noteworthy in an industry where payment delays and documentation issues often create significant operational friction. The successful onboarding of 10,000 subcontractors demonstrates the solution's scalability and potential impact on industry-wide payment practices.
The integration with Vista Construction Accounting Software and the improved lien waiver management system represents a significant operational efficiency gain. This modernization of payment processes could give ARCO a competitive advantage in subcontractor relationships and project execution, while potentially setting a new standard for payment management in the construction industry.
Leading design-build company deploys Oracle Textura to improve collaboration with subcontractors and better manage lien waivers
"Following a comprehensive year-long evaluation process, we selected Oracle Textura due to its exceptional capability to efficiently and securely manage high volumes of payments," said Austin Moore, chief financial officer, ARCO. "With Textura, we have fortified our relationships with subcontractors, which has had a positive ripple effect on our connections with owners and our overall standing in the industry. We are confident that Textura will continue to deliver increased time and cost efficiencies, especially in project accounting, along with enhanced risk management through streamlined lien waiver processes."
Oracle Textura is a construction payment management application used by thousands of general contractors, owners, and subcontractors to simplify and automate processes for invoicing, approvals, lien waiver and compliance management, and disbursement. The system has managed payments for construction projects collectively valued at over
Onboarding and lien transformation
A key factor in ARCO's decision to implement Oracle Textura was the platform's ability to integrate with and provide a single sign-on environment with its existing Vista Construction Accounting Software. In the three months since deploying Textura, ARCO has already on-boarded 700 in-house employees, including 100 accounting staff, 600 project managers, and 10,000 subcontractors.
"A significant part of our success is due to the outstanding training, implementation, and account management guidance we've received from Oracle," added
In particular, Textura has significantly helped ARCO improve its lien waiver management systems, providing a complete audit trail and ensuring that waivers are no longer lost or misplaced. It has also given its subcontractors greater visibility into the status of their invoices and payments, improving collaboration.
"Subcontractor payments are a notoriously slow and difficult process, which can cause financial management headaches for construction firms and erode trust with subcontractors," said Mike Antis, global vice president, Oracle Textura. "ARCO was committed to streamlining this process and ensuring that subcontractors can benefit from a clear understanding of where their payments are in the process. In tandem, moving their payment management process to the cloud has enabled ARCO to better manage lien waivers in a secure, centralized environment to help them improve efficiency, mitigate risks, and support better project outcomes."
About ARCO
ARCO is widely recognized as a construction industry leader for various industrial project types, including cold storage warehouses, light industrial distribution, and manufacturing. As a national design-build firm, ARCO offers turn-key design-build services that provide a direct relationship with a single point of contact, resulting in cost savings and clear lines of communication. ARCO's capabilities span from project feasibility studies, site selection, and complete design to value engineering, code consulting, and full general contracting. Additionally, ARCO is
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SOURCE Oracle
FAQ
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