Oracle Textura Payment Management is the gold standard for Construction Payment Applications and Management
Use Cases and Deployment Scope
We use Oracle Textura Payment Management when our clients require it. It replaces the need to send invoices each month manually and consolidates the monthly draw process into a well-organized and easy solution.
Oracle Textura Payment Management is easy to learn, very intuitive, and allows us to submit invoices in a way that eliminates mistakes and confusion on both sides. Submitted draws are easy to track and payment notifications are emailed allowing us to know exactly when we will receive our funds.
Pros
- AIA Billing
- ACH Payments
- SOV Management
- Communications
- User Management
- Compliance Holds
Cons
- Task Management needs a "Mark all as Read" or similar function. They pile up per job and are only able to be completed using certain links and processes.
- Payment Notification emails should include payment details including amount(s), joint check info, and check numbers.
- Projects should be able to be removed or archived by the subcontractor. We have jobs showing on our home page that are 3+ years since completion.
- Retention billing is very confusing and should be communicated more clearly. There should also be a button that allows for all retention to be billed at once rather than having to type in the amount per line item.
- Sub-Tiers should not be a menu to click through if there are no sub-tiers for a sub.
Likelihood to Recommend
For a GC that wants to make things easier for both the themselves and all subs, this is absolutely the best solution out there. Some GCs still approve changes using purchase orders rather than change orders and allow invoicing to occur at any time during the month However, they should change their process to align with Oracle Textura Payment Management's draws. Without a draw process and confirmed invoice submission along with ACH payments, we have had invoices lost, payments lost, and time lost from having to track all of it.
I can't think of a reason it would not be appropriate.
