Shawmut Design and Construction Improves Subcontractor Payment with Textura-CPM

CHICAGO, June 9, 2016 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that national construction management company Shawmut Design and Construction has seen significant gains in the efficiency of its payment management process – including speeding up subcontractor payments – since implementing Textura-CPM™.

"By streamlining, automating and standardizing our process, CPM has transformed how we work, benefitting both Shawmut and our project partners," said Shelley Almeida, AP Reporting Manager for Shawmut. "With the efficiencies provided by CPM, we have experienced a significant decrease in the time required to process payments to subcontractors," she said.

Shawmut is No. 59 on the ENR 400, Engineering News-Record's annual ranking of the largest general contractors. The company specializes in building impressive projects for clients within Academic, Retail, Restaurant and Sports Venues markets.

Shawmut implemented Textura-CPM in 2014. 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, online workflow.

Construction managers like Shawmut gain both efficiency and full visibility into the real-time flow of construction project information, helping them to mitigate risk, standardize processes and documents, and increase control.  In addition to getting paid faster, Shawmut's subcontractors experience reduced administrative effort and costs, enabling them to focus resources on value-added activities. Subcontractors also benefit from simplified and streamlined communications, improved lien waiver processes, and better visibility into payment and compliance status.

"Shawmut's experience demonstrates the value that CPM can deliver to all stakeholders in the payment process," said Mike Antis, Executive Vice President of Client Services for Textura^®. "With more efficient processes reducing administrative burdens and improving outcomes for both general contractors and subcontractors, CPM is enabling these organizations to operate more effectively and position themselves for further growth and success," he said.

About Shawmut Design and Construction

Shawmut Design and Construction is a $1.2 billion national construction management firm with a reputation for completing extremely complex and logistically challenging projects for the most high-profile clients in the industry. As an ESOP (employee-owned) company, Shawmut has created a culture of ownership, proactive solution-making, and forward thinking. Eighty percent of its business comes from repeat clients proving there is a strong focus on building lasting partnerships.  Shawmut's unique business model allows project teams to better service clients by focusing their specialized expertise within one of the following areas: Academic, Tenant Interiors, Cultural & Historic, Healthcare & Life Sciences, Hotel, Restaurant, Retail, and Sports Venues. Shawmut has offices located in Boston, Providence, New York, Miami, Las Vegas, and Los Angeles. For more information, please visit www.shawmut.com.

About Textura

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   

Contact:
Emily Ries
Textura Corporation, CPM Marketing
[email protected] 
847-457-6536

Investor contact:
Annie Leschin, StreetSmart IR
[email protected] 
415-775-1788

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SOURCE Textura Corporation

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