McCarthy Holdings, Inc. (McCarthy), one of the largest general contractors in the US, is deploying Oracle Textura Payment Management to streamline, automate, and speed payments to its subcontractors. McCarthy chose Textura for its proven ability to scale and improve processes across large volumes of payments and mitigate risk through tighter controls and secure management of lien waivers and compliance.
McCarthy has already deployed Oracle Textura across more than 200 projects, with nearly 100 of those projects provisioned in a single month. McCarthy worked with Oracle Textura client services to configure projects and onboard over 1,500 users around the country. The work that Textura Client Services does with customers before, during, and even after go-live, is offered at no extra charge.
“With Oracle Textura supporting our payment process, inefficiencies are gone and our people can spend time on the things that they actually come to work at a construction company to do—solve problems and build,” said Adam Knoebel, senior vice president of operations, McCarthy Building Companies, Inc. “One of Oracle Textura’s biggest differentiators is the industry expertise of its client services team. The collaboration with our team has been excellent and enabled a successful and fast ramp up.”
Oracle Textura is a construction payment management application used by thousands of general contractors, owners, and subcontractors to simplify and automate processes for invoicing, approvals, lien waiver and compliance management, and disbursement. The system has managed payments for construction projects collectively valued over $1 Trillion.
Building a better payment process
McCarthy is focused on providing an exceptional experience for their owner-clients, subcontractors, and sub-tier subcontractors, and they need a robust payment solution to support that strategy. After completing a rigorous evaluation period on select projects around the country, McCarthy found that Oracle Textura could satisfy requirements for securely exchanging lien waivers for automated clearing house (ACH) payments, compliance management, ERP integration, permissions and controls, and transparency and collaboration with subcontractors.
“We chose Oracle Textura because the completeness of its capabilities around compliance, payments, and controls helps us provide an exceptional client experience,” said Ryan Moret, director, applications, McCarthy. “We found that only Textura offered McCarthy the ability to standardize critical payment management processes across our portfolio and enshrine best practices at scale, while also allowing for flexibility as necessary, such as for specific project needs, regional regulations, or owner requirements.”
“McCarthy is a great example of how implementing a collaborative payment management solution can help simplify and standardize the traditional payment process,” said Mike Antis, global vice president, Oracle Textura. “With Textura, McCarthy and its subcontractors are able to reduce risk, and it frees up time to focus on value-added activities that are more beneficial to its business.”
Learn how Oracle Textura Payment Management can increase productivity and improve cash flow by reducing errors, and mitigating financial, legal, and reputational risk.
