Associate Mechanical Contractors (AMC) is a mechanical subcontractor based in Southern California. The company provides preconstruction, fabrication, facility services, and construction services to some of the largest contractors in the US on projects including: offices, technology, entertainment, biotech, schools, institutions, and healthcare.
The subcontractor supports several different general contractors (GCs) and must adhere to the payment and compliance processes specified by those GCs and project owners. Some of AMC’s largest clients use and specify Oracle Textura Payment Management for all their projects.
AMC Accounting Manager Christina Payne has used the construction payment management software for about 10 years. The subcontractor currently manages their payments and compliance for roughly 40% of their projects using the Oracle payment solution.
“The number of projects specifying Oracle Textura Payment Management is steadily increasing,” says Payne.
“Compared to manually managing payments and compliance, or using other systems we are required to use, I prefer Oracle Textura Payment Management because we can easily track when payment applications are accepted. If there are issues, we get timely notifications to revise them, so we can proactively resolve issues before payment is delayed,” says Payne.
Without Oracle Textura Payment Management, communication about payment applications or compliance issues are delivered to a subcontractor via email or phone calls, which can be inefficient.
“With Oracle Textura Payment Management, we are assured that the information is received and that everyone who needs to access that information, can access it. We don’t have to spend time tracking the communication and resolutions and we are notified about the status of payment applications and/or compliance issues in a timely manner,” says Payne.
AMC also benefits from the self-service aspect of the Oracle solution. The organization does not need to call or email to check up on the status of a payment application or a payment.
“We can get the information we need just by checking the Oracle system. We don’t have to wait for responses to emails and delays are reduced,” says Payne.
Payment application preparation is also much faster. AMC does not have to look for the right form for a given project or create spreadsheets to bundle together and submit to the GC.
The full payment history for the entire project is easily accessible and always up-to-date. For example, if a line item on a payment application was not approved, it is automatically carried forward.
No time is spent calculating and there is no risk of a forgotten line item or an unreceived payment. AMC has saved time on payment application preparation by using the Oracle solution.
The process, including generating and having the invoice signed, used to take 10-15 minutes. The same process takes under five minutes, just half the time, using Oracle Textura Payment Management with less risk of calculation errors.
On the compliance side, AMC can have more than one person in accounting working on a project without risking duplication of effort or incomplete documentation. The Oracle tool tracks all lien waivers and other compliance documents.
Anyone on AMC’s accounting team can easily see what information has been submitted and what is outstanding.
“As a subcontractor, I prefer using Oracle Textura Payment Management because the system provides complete visibility into payment status. Without knowing where payments are, it is hard to keep projects moving,” says Payne.
Learn more about Oracle Textura Payment Management.
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