Contractor Software automates pre-qualification management.October 8, 2009 -
Suited for General Contractors and Subcontractors, Pre-Qualification Management(TM) (PQM) enables collaboration and automates pre-qualification process. Contractors can distribute their resumes, balance sheets, and other supporting documents online, while owners can browse information to determine whom to invite to bid on projects. Solution also automates data collection from subcontractors and adds ability to monitor subcontractor pre-qualification compliance and obtain timely updates.
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Original Press release
Textura
1405 Lake Cook Road
Deerfield, IL, 60015
USA
Textura Expands into Pre-Qualification Management
Textura-Pre-Qualification Management(TM) (PQM) ties together subcontractors and general contractors to automate key pre-qualification activities -- with benefits for everyone.
CHICAGO, Oct. 2 -- Textura Corporation announces the release of its second major application -- Pre-Qualification Management -- as further evidence of its leadership position in automating interactions between General Contractors and Subcontractors. This builds on Textura's position as the construction industry's only full solution for invoicing, lien waiver collection, compliance and payment.
Patrick Allin, Textura Chairman and CEO stated, "In the current market there is a lot of pressure on owners and general contractors to better manage subcontractor risk by dramatically improving the pre-qualification process. Today's process is manual and an administrative burden for owners, general contractors and subcontractors. We spent the last two years building a state-of-the art technology platform that enables collaboration and automates the pre-qualification process for everyone. We believe the industry will benefit from better qualified subcontractors working more effectively with better performing general contractors."
Engineering News Record (ENR) in the August 3, 2009 issue said, "Now, the e-commerce site [Textura] is about to expand with Facebook-like flair. In October, a new prequalification feature will allow contractors to distribute their resumes, balance sheets and other supporting documents online. Owners and general contractors will be able to browse the information to determine whom to invite to bid on a project, and whom to show the door."
For General Contractors, Textura-PQM(TM) automates data collection from subcontractors, freeing staff to focus on data verification and evaluation. The ability to monitor subcontractor pre-qualification compliance and obtain timely updates is substantially improved. Electronic tracking of subcontractor project performance enables improved sharing of evaluations among project managers and estimators. Textura-PQM allows general contractors to make a better assessment of subcontractors' fit for new projects.
Subcontractors enjoy one-time data entry to pre-qualify with all of their general contractors -- even if the general contractor is not on Textura-PQM. Many general contractors' pre-qualification forms are contained in the PQM database and templates are available for use in satisfying the requirements of others. The time required for subcontractors to prepare and submit pre-qualification materials is significantly reduced -- from hours per general contractor to just minutes. Subcontractors can market themselves to a broader range of general contractors.
For general contractors and subcontractors alike, the ease and efficiency that Textura-PQM(TM) introduces to the pre-qualification process significantly reduces labor costs while greatly enhancing everyone's ability to maintain and update the data, resulting in more current data with greater integrity.
More information about Textura-PQM is available at www.texturacorp.com/solutions-pqm.htm. Founded in 2004, Textura has developed the only robust collaborative industry solutions for pre-qualification, Textura-PQM as announced above, and for construction payment management, Textura-CPM. Textura-CPM integrates all construction payment management process components into one seamless work flow, helping contractors and others involved in construction projects realize significant benefits from automation and streamlining.
If you are interested in viewing additional information on Textura, please visit the Textura Web site at www.texturacorp.com. You can also call us at 866-TEXTURA (866-839-8872) or email your question to customerservice@texturacorp.com. You can submit questions or requests for additional information through our web site at http://texturacorp.com/contact.php.
CONTACT: Geoff Gitelson, Executive vice president of sales of Textura Corporation, +1-847-235-8491, Geoff.Gitelson@texturacorp.com
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