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CHICAGO (March 7, 2016) Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that it will take part in the Associated General Contractors of America’s 97th Annual AGC Convention this week to showcase its solutions, including Textura-Construction Payment Management™ and the Early Payment Program™.
The AGC’s annual convention is a leading construction industry event that brings together AGC member general contractors, subcontractors and other construction professionals for educational sessions, networking opportunities and a vendor exhibition. This year’s convention is being held at the Grand Hyatt San Antonio.
Textura has been selected to present an educational session on supply chain finance at the conference. Joining Textura for the session will be Greensill Capital and Turner Construction Company. Turner worked closely with Textura and Greensill Capital to develop the Early Payment Program (EPP™) concept and launch a program called the Turner Accelerated Payment Program™.
Designed to optimize working capital management at construction companies, EPP enables general contractors to use third-party funding to offer optional early payment across their subcontractor community. This approach reduces subcontractors’ typical payment waiting time from weeks or even months to just days after invoice approval. By improving cash flow and making payment timing predictable, EPP provides an affordable option for subcontractors that can reduce their need for traditional financing, diminish financial stress and help subcontractors better manage their working capital.
The innovative EPP solution, which enables the use of supply chain finance (SCF) programs in construction, uses Textura’s CPM® technology to facilitate early payment to subcontractors through Greensill Capital, an independent financial services firm and principal investor group specializing in structured trade finance, working capital optimization, specialty financing and contract monetization.
“We’re thrilled to have this terrific opportunity to educate AGC members about the significant benefits of supply chain finance to the construction industry. Cash flow and working capital challenges can be considerable for subcontractors, and providing optional early payment via SCF programs presents a real opportunity to help address that issue and improve project outcomes for all stakeholders,” said Dave Habiger, interim Chief Executive Officer of Textura.
The educational session, “Solving Working Capital Challenges: Why Construction Needs Supply Chain Finance,” will be held Wednesday, March 9, at 10:30 a.m. (Central Time) in the hotel’s Lone Star Salon E.
Textura is a 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. With award-winning technology, world-class customer support and consistent growth, Textura is leading the construction industry’s technology transformation. www.texturacorp.com
Annie Leschin, StreetSmart IR
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