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ConstructionPro Week, Volume: Construction Advisor Today - Issue: 98 - 03/11/2011

Swinerton Adopts Textura’s Construction Payment Management System

The Swinerton Family of Companies, which provides commercial construction and construction management services throughout the western United States, earlier this month announced that it has adopted Textura Corp.’s Construction Payment Management (Textura-CPM) system for all of its projects. 

Swinerton is using Textura-CPM to provide on-line subcontractor invoicing, collection of lien waivers, and automated tracking of compliance documents and electronic payments.

 

“This is delivering significant efficiencies and improved risk management, resulting in lower costs, better process management, and improved profitability,” according to Swinerton.

“Swinerton Inc. and subsidiary companies have established a corporate-wide initiative to 'Go Green' and become paperless while also improving communication within the company and with our business partners, including our subcontractors,” company Senior Vice President Linda Schowalter said. "After reviewing multiple options on the market, we made the decision to use Textura, which assists us with both of these initiatives."

Textura-CPM creates electronic invoice documents that are reviewed and approved on-line or marked up and returned to the subcontractor for re-submission. The system automatically creates matching electronic lien waivers, which are electronically signed and notarized. Compliance tracking supports electronic submission of required compliance documents. Payments are made electronically via ACH. CPM's functionality eliminates the need for paper documents while improving the communication among project participants.

“Following the initial use of Textura on three projects during a 'Proof of Concept' stage, Swinerton planned a phased implementation by region,” Swinerton Vice President and Treasury Manager Phyllis Smith said.  “As expected, there was an initial learning curve as all stages of implementation were initially met with challenges related to the technical and cultural change. A top-notch [Textura] client service team was assigned to Swinerton that diligently worked side-by-side with Swinerton at each stage. Its commitment to client service facilitated success with project team learning, resulting from behavioral and procedural change."

The proof of concept allowed Swinerton to fully develop its desired process and to confidently roll it out across the organization. Five regions were implemented in three months. The project team assumed that all new and existing projects were adequate projects to put on Textura-CPM and that exceptions for existing projects would be handled on a one-off basis. 

“As it turned out, there were very few exceptions,” according to Swinerton. “The rapid implementation allowed us to attain a single, standard process across the organization with improved controls, such as subcontractor invoice deadlines to manage accounting closes, and assured lien waiver collection for improved risk reduction.

After four months of introduction, training, and in-process project conversion, Swinerton has more than 100 projects on Textura-CPM.

 

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