Oracle Textura Surpasses $1 Trillion in Construction Payments Processed
Oracle Textura Payment Management Cloud Service has achieved a significant milestone by processing over $1 trillion in construction payments to subcontractors. The platform has served more than 120,000 projects from over 800 general contractors and project owners, along with 200,000+ subcontractors since its 2006 launch.
The cloud-based payment management system processes an average of $16 billion in payments monthly, helping construction companies streamline billing and payment processes. The solution enables faster payments, improved compliance risk management, enhanced lien waiver handling, and more predictable cash flow for construction industry participants of all sizes.
Walsh Group's CIO Tim Nottoli praised the platform for modernizing their subcontractor invoice payment process, highlighting its security, standardization, and efficiency across projects.
Oracle Textura Payment Management Cloud Service ha raggiunto un traguardo significativo elaborando oltre 1 trilione di dollari in pagamenti per la costruzione ai subappaltatori. La piattaforma ha servito più di 120.000 progetti provenienti da oltre 800 appaltatori generali e committenti, insieme a oltre 200.000 subappaltatori dalla sua nascita nel 2006.
Il sistema di gestione dei pagamenti basato su cloud elabora una media di 16 miliardi di dollari in pagamenti mensili, aiutando le aziende di costruzione a semplificare le fatturazioni e i processi di pagamento. La soluzione consente pagamenti più rapidi, una migliore gestione dei rischi di conformità, una gestione migliorata delle liberatorie e un flusso di cassa più prevedibile per i partecipanti dell'industria delle costruzioni di tutte le dimensioni.
Tim Nottoli, CIO di Walsh Group, ha lodato la piattaforma per aver modernizzato il processo di pagamento delle fatture dei subappaltatori, evidenziando la sua sicurezza, standardizzazione ed efficienza su tutti i progetti.
Oracle Textura Payment Management Cloud Service ha alcanzado un hito significativo al procesar más de 1 trillón de dólares en pagos de construcción a subcontratistas. La plataforma ha servido más de 120.000 proyectos de más de 800 contratistas generales y propietarios de proyectos, junto con más de 200.000 subcontratistas desde su lanzamiento en 2006.
El sistema de gestión de pagos basado en la nube procesa un promedio de 16 mil millones de dólares en pagos mensuales, ayudando a las empresas de construcción a optimizar la facturación y los procesos de pago. La solución permite pagos más rápidos, una mejor gestión de riesgos de cumplimiento, un manejo mejorado de las exenciones de gravamen y un flujo de caja más predecible para los participantes de la industria de la construcción de todos los tamaños.
Tim Nottoli, CIO de Walsh Group, elogió la plataforma por modernizar su proceso de pago de facturas de subcontratistas, destacando su seguridad, estandarización y eficiencia en todos los proyectos.
오라클 텍스추라 결제 관리 클라우드 서비스는 하청업체에 대한 건설 결제를 통해 1조 달러 이상을 처리함으로써 중요한 이정표를 세웠습니다. 이 플랫폼은 2006년 출시 이후 800개 이상의 일반 계약자 및 프로젝트 소유자로부터 120,000개 이상의 프로젝트를 지원했으며, 200,000개 이상의 하청업체와 함께했습니다.
클라우드 기반의 결제 관리 시스템은 매월 평균 160억 달러의 결제를 처리하여 건설업체들이 청구 및 결제 프로세스를 간소화하는 데 도움을 줍니다. 이 솔루션은 더 빠른 결제, 개선된 규정 준수 위험 관리, 향상된 유치권 포기 처리 및 모든 규모의 건설 산업 참여자에게 더 예측 가능한 현금 흐름을 가능하게 합니다.
월시 그룹의 CIO인 팀 노톨리는 이 플랫폼이 하청업체 청구서 결제 프로세스를 현대화했다고 칭찬하며, 프로젝트 전반에 걸쳐 보안성, 표준화 및 효율성을 강조했습니다.
Oracle Textura Payment Management Cloud Service a atteint une étape importante en traitant plus de 1 trillion de dollars en paiements de construction aux sous-traitants. La plateforme a servi plus de 120.000 projets provenant de plus de 800 entrepreneurs généraux et propriétaires de projets, ainsi que plus de 200.000 sous-traitants depuis son lancement en 2006.
Le système de gestion des paiements basé sur le cloud traite en moyenne 16 milliards de dollars de paiements mensuels, aidant les entreprises de construction à rationaliser les facturations et les processus de paiement. La solution permet des paiements plus rapides, une meilleure gestion des risques de conformité, un meilleur traitement des déclarations de renonciation et un flux de trésorerie plus prévisible pour les participants de l'industrie de la construction de toutes tailles.
Tim Nottoli, CIO du Walsh Group, a salué la plateforme pour avoir modernisé leur processus de paiement des factures des sous-traitants, mettant en avant sa sécurité, sa standardisation et son efficacité à travers tous les projets.
Oracle Textura Payment Management Cloud Service hat einen bedeutenden Meilenstein erreicht, indem es über 1 Billion Dollar an Bauzahlungen an Subunternehmer verarbeitet hat. Die Plattform hat seit ihrer Einführung im Jahr 2006 mehr als 120.000 Projekte von über 800 Generalunternehmern und Projektinhabern sowie über 200.000 Subunternehmern bedient.
Das cloudbasierte Zahlungsmanagementsystem verarbeitet monatlich im Durchschnitt 16 Milliarden Dollar an Zahlungen und hilft Bauunternehmen, Rechnungs- und Zahlungsprozesse zu optimieren. Die Lösung ermöglicht schnellere Zahlungen, eine verbesserte Risikomanagement für die Compliance, ein besseres Handling von Verzichtserklärungen und einen vorhersehbareren Cashflow für Teilnehmer der Bauindustrie jeder Größe.
Tim Nottoli, CIO der Walsh Group, lobte die Plattform für die Modernisierung ihres Zahlungsprozesses für Subunternehmerrechnungen und hob ihre Sicherheit, Standardisierung und Effizienz über alle Projekte hinweg hervor.
- Reached $1 trillion milestone in construction payments processed
- Processes $16 billion in payments monthly
- Extensive market penetration with 800+ contractors and 200,000+ subcontractors
- Strong client testimonial from major construction company Walsh Group
- None.
Insights
Oracle Textura's milestone of processing
The platform's success in attracting over 800 general contractors and 200,000 subcontractors represents significant network effects and high switching costs, creating a strong moat for Oracle in the construction payment space. This established ecosystem makes it increasingly difficult for competitors to displace Oracle's position in construction payment processing.
For investors, this validates Oracle's strategic expansion into industry-specific cloud solutions beyond its traditional database business. The construction sector's digital transformation presents a substantial growth opportunity, especially considering the industry's historical resistance to technological adoption. The success of Textura suggests Oracle is well-positioned to capture additional market share in other industry-specific payment solutions.
The widespread adoption of Oracle Textura by major contractors like Walsh Group signals a fundamental shift in construction industry payment practices. The digitalization of payment processes addresses critical industry pain points including payment delays, compliance risks and cash flow management - issues that have historically plagued the construction sector.
The platform's ability to process payments for 120,000 projects demonstrates substantial scale and indicates strong product-market fit. For construction companies, the standardization of payment processes across projects represents significant operational efficiency gains and risk reduction. The integration of lien waiver management is particularly valuable given the complex regulatory environment in construction.
Looking ahead, this positions Oracle to potentially expand into adjacent construction management functionalities, leveraging their established customer base. The construction industry's continued digital transformation, coupled with increasing regulatory requirements, suggests sustained growth potential for Oracle's construction-focused solutions.
Cloud payment management system helps construction companies accelerate payments while mitigating risk and improving productivity and cash flow
"Oracle Textura greatly modernized the process by which we pay our subcontractor invoices," said Tim Nottoli, CIO, Walsh Group. "In my personal life, I pay my bills all through a banking app, there are no more checks. Oracle Textura has done the same for our project accounting teams as they accept subcontractor invoices and waivers and issue payments. We found Textura's customer success team to be committed, their platform to be flexible, and the process to be easy and efficient. With Textura, we now have a standardized payment process, across our projects that is secure and enjoyable."
Transforming construction payment processing
Oracle Textura Payment Management is a cloud application that helps general contractors, owners, and subcontractors of all sizes to simplify the billing and payments process. With the collaboration solution, project participants can accelerate payments, mitigate compliance risk, improve lien waiver and compliance management, and make cash flow more predictable. The system processes, on average
"We want to thank our customers for their trust in Oracle Textura to help them manage such a vital aspect of their operation," said Mike Antis, global vice president, Oracle Textura. "By implementing a collaborative payment management solution, construction companies are not just streamlining their payment processes, but also contributing to the overall health and growth of their companies and the industry overall. We are optimistic that our clients will continue to thrive and expand in the next 12 months and beyond."
Learn how Oracle Textura Payment Management can increase productivity and improve cash flow by reducing errors, and mitigating financial, legal, and reputational risk.
About Oracle Construction and Engineering
Asset owners and project leaders rely on Oracle Construction and Engineering solutions for the visibility and control, connected supply chain, and data security needed to drive performance and mitigate risk across their processes, projects, and organization. Our scalable cloud construction management software solutions enable digital transformation for teams that plan, build, and operate critical assets, improving efficiency, collaboration, and change control across the project lifecycle. www.oracle.com/construction-and-engineering.
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