Oracle Textura Payment Management: Streamlining Procurement

Procurement in the construction industry demands precision, efficiency and robust risk management.

Oracle Construction and Engineering, through its innovative solutions, addresses these challenges by integrating advanced cloud-based tools like Oracle Textura Payment Management Cloud Service.

This platform transforms the payment landscape for contractors and subcontractors, driving efficiency and control across project lifecycles.

Oracle Textura has now processed more than US$1tn in payments since its launch in 2006. This milestone reflects its extensive adoption, supporting in excess of 120,000 projects and connecting more than 800 general contractors and 200,000 subcontractors.

By simplifying payment processes, Oracle Textura has proven its value as a cornerstone in construction procurement strategies.

Modernising payment systems in construction

Oracle Textura Payment Management Cloud Service is a powerful example of digital transformation in construction.

Designed as a cloud application, it enables contractors and subcontractors to streamline billing, payments and compliance processes.

For procurement teams, this system is a game-changer. It accelerates payments, reduces compliance risks, improves cash flow predictability and ensures robust management of lien waivers and compliance documentation.

This seamless process not only saves time but also brings clarity and consistency to construction payment workflows. Each month, the platform processes an average of US$16bn, reflecting its role in keeping procurement operations efficient and secure.

By eliminating manual tasks and ensuring transparent payment tracking, Oracle Textura enables teams to focus on core activities without being bogged down by administrative burdens.

Tim Nottoli, CIO of Walsh Group, describes the impact of Oracle Textura: "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 standardised payment process, across our projects that is secure and enjoyable."

Enhancing procurement through visibility and control

Oracle Construction and Engineering’s suite of tools goes beyond payment management to offer comprehensive procurement solutions.

Integrated supply chain management capabilities empower project owners and contractors to predict risks, optimise supplier sourcing and respond dynamically to market changes. These features enhance buying power and create a more resilient procurement process.

One of the standout features of Oracle’s solutions is its ability to connect payment management with other aspects of procurement. Visibility into work package scopes and schedules ensures procurement teams can align material requisitions with project timelines effectively.

By minimising errors, reducing rework and decreasing administrative overheads, Oracle’s tools foster collaboration between procurement, project management and financial teams.

For procurement leaders, the benefits extend to strategic planning. With data-driven insights and real-time tracking of financial flows, the platform supports better decision-making.

It creates a unified approach to managing resources, from raw materials to labour, ensuring all components of a project are aligned and optimised.

A collaborative future

Oracle Textura’s success lies in its collaborative design, which encourages alignment across all parties in construction projects.

Mike Antis, Global Vice President of Oracle Textura, explains: "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."

The tool's scalability makes it suitable for organisations of all sizes, enabling smaller firms to benefit from processes often associated with large enterprises.

Its cloud-based nature ensures accessibility and security, vital for the fast-paced and high-stakes environment of construction.

Looking ahead, Oracle’s continued innovation promises even greater integration of procurement functions with project management tools. These advancements will further enhance productivity, foster industry growth and strengthen partnerships within the construction ecosystem.

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