(CHICAGO) May 7, 2015 — Textura Corporation (NYSE: TXTR), a leading provider of collaboration solutions for the construction industry, announced that Martines Palmeiro Construction, a full-service general contractor and construction manager based in Denver, has selected Textura—CPM™ to improve the company’s payment processes and help support its rapid growth in recent years.
Martines Palmeiro Construction, which specializes in multifamily, hospitality and commercial projects, has experienced 185% revenue growth over the past three years. Despite that significant increase in its business, the general contractor has not needed to add staff, as CPM™ has made its invoicing and payment processes much more efficient.
“Before we started using CPM, we were managing the payment process manually,” said Tony Lajimodiere, Vice President of Finance, Martines Palmeiro Construction. “That approach was too slow and relied too much on paper. As we have grown over the last few years, a challenge has been to accommodate that growth without adding to overhead. By streamlining and automating our processes, CPM has helped us do exactly that – by making payment management much easier and more efficient,” Lajimodiere said.
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 and compliance management – into a seamless workflow. MPC can use the online solution to initiate monthly draws, review compliance documents, collect signed lien waivers and make payments, all electronically.
Another factor in MPC’s decision was the widespread adoption of Textura-CPM across Colorado. “Most of our subcontractors were already using Textura-CPM,” said Lajimodiere. “We saw what the solution could do in terms of increasing communication and visibility with our subcontractors and how much more efficient it made collecting lien waivers and other compliance documents.” More than 3,000 subcontractors and numerous general contractors in Colorado use Textura-CPM.
“The growth that Martines Palmeiro Construction has achieved over the last few years is remarkable,” said David Kelly, Executive Vice President of Client Services for Textura Corporation. “Companies in the same position can use CPM and our other solutions to manage such growth without the need to increase resources, which has a genuine impact on the bottom line. We look forward to helping Martines Palmeiro Construction achieve new levels of growth and success,” Kelly said. – See more at: http://www.texturacorp.com/about-textura/news-events/construction-press-releases/martines-palmeiro-construction-selects-textura-cpm-to-improve-payment-processes-manage-high-growth/#sthash.F94VniVl.dpuf