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In the traditional, manual construction payment process, there is significant potential for errors, which can lead to payment delays and extra work. For Cassie Mejia, project coordinator at Mesa, Ariz.-based Rhino Masonry, the elimination of that risk is a major benefit of using Textura’s CPM™ solution to process invoices.
“When information gets transferred back and forth manually between us and the general contractor, there is the risk of someone entering something wrong,” she says. “CPM eliminates that risk. Everyone is on the same page. Everyone has the same information.”
Collaboration software like Textura-CPM helps subcontractors and general contractors maintain one version of the truth. By moving the construction invoicing and payment process online, CPM enables all project stakeholders to work from a single virtual version of a payment application, greatly reducing the likelihood of error. A web-based, Software-as-a-Service (SaaS) offering, Textura-CPM electronically integrates all construction payment management processes — including billing, lien waiver collection, progress claims, statutory declarations, sub-tier waivers, compliance management and electronic payments – into a seamless online workflow that ensures all project participants are up to date and on the same page.
Handling pay apps via Textura-CPM saves the commercial masonry subcontractor time, paper and money. For example, Mejia said that for projects not billed using CPM, a single revision can generate four extra sheets of paper – and related administrative effort – by the time the invoice, schedule of values and lien waivers are revised and re-sent. With CPM, the same process is completed in very little time with just a few clicks and keystrokes.
In addition, “everything is saved and tracked throughout the project,” she adds. “That eliminates a lot of extra hours and paperwork.” In fact, Mejia said she can complete three pay applications using CPM in the time it takes to complete one with a general contractor using manual processes. That, she says, should be enough to convince any general contractor or subcontractor of the value of Textura’s solution. “I wish every project was run with CPM.”
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