Software aids decision making for construction projects.
March 13, 2009 -
Leveraging Textura Construction Payment Management application transactional data and customer data, Management Dashboard helps executives proactively manage cash flow and risk by providing key performance information pertaining to financial health of each project in their construction portfolio. Solution can be customized for owners, developers, lenders, or general contractors to ensure they have relevant information for their individual roles and project responsibilities.
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
|Original Press release |
1405 Lake Cook Road
Deerfield, IL, 60015
New Textura Management Dashboard Provides Up-To-Date Information for Executive Decision Making on Construction Projects
The Management Dashboard enables executives to proactively manage cash flow and risk by providing key performance information about the financial health of their construction project portfolio.
CHICAGO, Feb. 27 -- Furthering its dedication to improving processes in construction invoicing and payment through technology innovation, Textura Corporation today announced the availability of the Management Dashboard, a new Textura application that combines Textura Construction Payment Management application transactional data with customer data to create a rich project performance and reporting tool.
This new application is a major addition to Textura's application offerings. The Management Dashboard delivers real-time information through graphical displays about the performance of each project. It allows project teams using Textura to capitalize on the value of the financial and process data in the Textura Construction Payment Management application. Projects are reported on in a consistent way across the entire project portfolio. A simple user interface allows users to 'Click to Drill' into the details. The Textura Management Dashboard has robust security and financial integrity.
"For many organizations with a portfolio of construction projects, the biggest question top management faces is 'which projects need my attention?' The Textura Management Dashboard delivers real time information for proactive executive decision-making," says Textura CEO, Pat Allin. The Management Dashboard captures budgets, cash flows, expenditure-to-date, estimate to complete, variances and other key performance indicators. Top management finally has the information needed to ensure they are focused on only the most critical project issues.
One of the most important aspects of the Textura Dashboard is that it can be customized for owners, developers, lenders or general contractors to ensure they have relevant information for their individual roles and project responsibilities. Detailed Target Metric Reports focus on key areas of project performance and risk, including Cash Flows, Budget versus Actual, Performance against Schedule, Cost at Completion, Exposure to Potential Change Orders, Compliance Status, etc.
The Management Dashboard decreases the risk of non-performing projects or project teams going undetected. Additionally, the consistent view of data allows project comparisons across the portfolio. Matt Lewisman, Director of Product and Market Development says, "When a consistent Schedule of Values is used the Dashboard allows cost comparison at the detailed budget line item level. It also enables assessment of construction spend across vendors. Both insights can lead to potential cost savings on future projects. At a minimum, this allows our clients to manage all of their supply chain partners in a consistent way."
The Management Dashboard allows significant user flexibility to define metrics and tolerances. Lewisman said, "Our clients told us they need flexibility. We built the Dashboard allowing users to define the metrics they want to monitor. There are options for how each metric is calculated and displayed. The user can define individual tolerances for each metric to create a powerful exception-based tool to help management keep projects on track. Whether the client is a project owner, developer, or general contractor - Textura's Management Dashboard puts project performance information at their fingertips."
"Performance in the marketplace is more important today than ever," said Allin. "Financial institutions are tightly managing project funds. Owners are closely watching how their equity is being used. The Textura Management Dashboard produces actionable, real-time information on project performance. Our clients are using this information to proactively address potential problems - before they become problems. This new application demonstrates our ability to deliver holistic solutions to complex client needs, and to do it in a way that delivers a superior value proposition and support for our clients."
More information about the Management Dashboard is available at www.texturacorp.com. Founded in 2004, Textura has developed the only robust, end-to-end offering that 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.