General Contractor Based in California Optimizes Payment Management Process with Web-Based Solution.
CHICAGO, May 5, 2014 — (PRNewswire) — Textura® Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, announced that Cobalt Construction, a General Contractor based in California that specializes in senior, student and multi-family housing, mixed use construction as well as heavy engineering, has selected Textura—CPM™ to streamline the payment management process
"With our previous solutions, we were having issues with the speed of the approval process and with collecting lien waivers," said Larry Persons, Director of Construction, Cobalt Construction. "Textura—CPM has already improved both of these for us, allowing us to collect lien waivers more efficiently and increasing the speed of the approval process. We've also made improvements in our compliance document management."
A web-based, Software-as-a-Service (SaaS), Textura—CPM electronically integrates all construction payment management processes, including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers, compliance management and payments into a seamless workflow. Cobalt Construction can use CPM™ to initiate the monthly draw, review the AIA 702/703's or custom documents as well as the completed and signed lien waiver releases, all online.
"We also plan on using Textura—CPM to help improve communication with our subcontractors," said Persons. "Textura—CPM allows for more visibility with subcontractor compliance documents, and it makes the approval process more efficient." Founded in 1946, Cobalt Construction is based in Simi Valley, California, and has offices in Santa Ana, CA and Dallas, TX. In addition to serving the senior, student and multi-family housing and mixed use construction sectors, Cobalt Construction also provides full service heavy engineering, ground modification, solar installation and underground construction.
"Cobalt Construction joins our growing group of over 300 major General Contractors who have chosen our Textura—CPM to enhance efficiency and increase productivity," said Patrick Allin, Chairman and Chief Executive Officer, Textura Corporation. "With over 6,200 active projects currently managed on Textura—CPM, it has become the standard for the industry. We look forward to helping Cobalt Construction achieve new levels of success."
About Cobalt Construction
At Cobalt, we pride ourselves in our multi-generational heritage. Since our founding in 1946 we've had time to perfect our craft and design a methodological approach to construction that exceeds our client's expectations. Our approach focuses on capitalizing on our teams numerous years of experience to provide unparalleled leadership, consultation and customer service. Our repeat business with many clients is a testament to Cobalt's expertise and ability to execute to these high standards. For more information, please visit www.cobaltcc.com
Textura is the 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.
Textura's collaboration platform and online product suite represent the first time the industry has all the tools needed to manage their business in an integrated fashion to save time and money and reduce exposure to risks. With award winning technology, world-class customer support and consistent growth, Textura is leading the construction industry's technology transformation. www.texturacorp.com
SOURCE Textura Corporation