To improve certainty around payment timing and help support subcontractor growth, Colorado-based general contractor and construction management company Catamount Constructors is using the Textura Early Payment Program™ (EPP ).
A partnership between Textura® and financial services company Greensill Capital, EPP provides third-party funding to enable general contractors to offer optional earlier payments to subcontractors. With EPP, payments can be made as soon as a few days after an invoice is approved, compared with weeks or months later under traditional financial practices. Earlier, more predictable payments can improve cash flow and working capital management for subcontractors. These improvements can, in turn, lead to a reduction in financial strain and to stronger balance sheets, reducing risk for the subcontractor and other project stakeholders and enabling growth. Launched in 2015, EPP is the first broadly available supply chain finance program designed to address the construction industry’s unique financial challenges.
Copyright © 2016, Oracle and/or its affiliates. All rights reserved. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
Intellectual Property Notice