CHICAGO, May 25, 2016 /PRNewswire/ -- Textura Corporation
(NYSE: TXTR), a leading provider of collaboration solutions for the
construction industry, announced that commercial builder Exxel
Pacific is using Textura's Construction Payment Management™
(CPM®) solution to streamline its invoicing and payment
processes and support the company's growth.
"Using CPM has standardized our payment management activities
and improved productivity by making the entire process much more
efficient and transparent. With a centralized system for all
invoices and payments, the draw process is much faster, and we can
be confident everything is accurate," said Molly Zimmerman, Chief Financial Officer at
Exxel Pacific.
A web-based Software-as-a-Service (SaaS) solution, Textura-CPM
integrates key construction payment management processes -
including billing, lien waiver collection, progress claims,
statutory declarations, sub-tier waivers, compliance management and
payments - into a seamless, online workflow that facilitates
collaboration across project participants. By providing automation
and standardization of document generation, routing and approval,
CPM gives construction companies such as Exxel Pacific more
control, improves accuracy, enhances visibility and helps mitigate
risk.
Founded in 1989, Bellingham,
Wash.-based Exxel Pacific is a leader in multi-family and
commercial development across the West Coast. The company ranks No.
265 on Engineering News-Record's 2016 ENR 400 list of the largest
general contractors, up from No. 310 in the previous year's
ranking. Revenues rose to $263.0
million in 2015, according to ENR's rankings.
Subcontractors' favorable view of Textura-CPM also played a role
in Exxel Pacific's decision to embrace the solution. "We wanted to
be sure any change would also benefit our subcontractor partners,"
Zimmerman said. "When we asked, we heard about many positive
experiences, so we felt very comfortable moving forward knowing our
subcontractors would be happy with the move to CPM," she said,
noting that the company also welcomes the paperless benefits of
online invoicing and payment.
"CPM offers fast-growing organizations such as Exxel Pacific the
ability to handle increasing workloads by boosting efficiency and
productivity, while also providing the same benefits for their
project partners," said David Kelly,
Executive Vice President of Client Services for Textura. "The
support of Exxel Pacific's subcontractor community is a terrific
validation of our efforts to provide value to all CPM users working
to achieve superior project outcomes," Kelly said.
About Exxel Pacific
Founded in 1989 by Sid Baron,
Chairman of the Board, and Kevin
DeVries, Chief Executive Officer, Exxel Pacific Inc. grew
out of the development activities of Exxel Development Group, an
active multi-family and commercial development company in northwest
Washington. Exxel Pacific provides
valuable pre-construction services to many clients and believes the
time spent early in development provides for a higher quality
project. Exxel Pacific has continued to grow and has become a
leader in commercial construction throughout the West Coast.
www.exxelpacific.com
About Textura
Textura is a leading provider of collaboration and productivity
tools for the construction industry. Our solutions serve all
construction industry professionals across the project lifecycle –
from takeoff, estimating, design, pre-qualification and bid
management to submittals, field management, LEED®
management and payment. With award-winning technology, world-class
customer support and consistent growth, Textura is leading the
construction industry's technology
transformation. www.texturacorp.com
Contact:
Emily Ries
847-457-1788
emily.ries@texturacorp.com
Investor contact:
Annie
Leschin, StreetSmart IR
415-775-1788
ir@texturacorp.com
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SOURCE Textura Corporation