Some technology providers catch the acquisition bug, hoping to capture customer bases and increase marketshare. Others truly have a plan in mind for creating value to the end user. Following two significant acquisitions in the construction-technology space throughout the past two weeks, Textura Corp., www.texturacorp.com, Deerfield, Ill., wants it to be known that it falls into the latter category.
Following its acquisition of GradeBeam.com two weeks back, Textura announced Submittal Exchange has also been brought into the fold. Technology from Submittal Exchange helps members of the construction project team exchange, review, and archive critical pieces of information like construction submittals and RFIs (requests for information).
Textura has stated its goal of building a true, end-to-end digital platform that connects all players in a construction process. Patrick Allin, chairman and CEO, Textura, tells Constructechthat going forward the company will continue to add more functionality to its collaboration platform through internal development, acquisitions, and even having others developing solutions on its platform.
“Our solutions are delivered over the Internet so they are accessible to everyone and require limited capital deployment,” says Allin. “The solutions are highly configurable, workflow driven, and provide an opportunity to manage all aspects of a project on a single, integrated platform. Through our integrated platform, we will give construction professionals more time to do what they love and do best: designing and constructing great buildings.”
Oftentimes acquisitions are made, and the big picture can be hard to figure out. However, by combining its existing product lines with those recently acquired, Textura has promised to deliver a “concept through construction” platform that touches all members of the project team. Breaking down each of the products now under the Textura brand, Allin describes a vision of the how the platform all comes together:
At the design stage: Submittal Exchange for Design enables online sharing of design documents for architects, owners, and engineers to improve efficiency and communication during the design phase of projects. This new application includes whiteboard and automatic synchronization tools to facilitate collaboration and idea exchange during concept development and design.
Prequalification: Prior to bidding or at the point of when a contract is awarded, the Textura—Pre-Qualification Management automates the entire prequalification process for all parties. This product facilitates the electronic submission, review, approval, and updating of all prequalification documents on the frontend.
Information management: This is where the GradeBeam.com product fits into the picture. This allows owners, architects, general contractors, and subcontractors to post, manage, and access critical project information from one central location. Preconstruction information exchange, including invitations-to-bid, drawing/specification distribution, corrections, addenda, requests for information and responses, can be expedited.
Construction documentation: Submittal Exchange for Construction is a product that creates a collaborative online system for exchanging, reviewing, and archiving construction submittals, RFIs, and other construction communications during the construction phase.
LEED tracking and management: Greengrade is an interesting product in that it addresses an area of construction management that is becoming ever-more critical. With this product, architects, engineers, and contractors can communicate, track, and manage all LEED project information before and during construction.
Payment: A staple in Textura’s portfolio for years, Textura—Construction Payment Management electronically integrates all construction payment management process components – billing, lien waiver collection, statutory declaration collection, sub-tier waivers, compliance management, and payments – into one workflow.
Piecing critical components of the construction process together to create one interactive experience is no easy task. Through some major announcements, Textura is working to put it all together. The interesting part to watch is to what degree the industry adopts. Stay tuned.