Monthly contract administration – i.e. assessing claims, collecting statutory declarations, managing variations and Subcontractor compliance – remains a mostly manual and cumbersome endeavour. With a majority of your revenue (and risk) subcontracted, these activities are critical to your profitability and overall success.
Security of Payment (SoP) legislation only makes this more difficult by mandating response time and paperwork requirements, increasing the risk of mismanagement.
As a CFO, Commercial Manager or Director are you:
- Lacking visibility to the timely processing of claims and variations?
- Concerned about proper handling of SoP claims?
- Waiting weeks for assessed claims to be entered into your accounting system for accurate cost accruals?
As a Contract Administrator or Project Manager are you:
- Spending too much time handling Subcontractor paperwork when you should be verifying work completed?
- Wasting time recreating claims in Excel to identify overbilling, unapproved variations and changes in work breakdown?
- Chasing Subcontractors’ statutory declarations and other out-of-date compliance requirements?
Textura®—CPM addresses these challenges by providing Builders with:
- Time and cost savings via efficient claims processing
- Increased visibility into SoP claim, variation, and payment status
- Standardised claims management with automated workflows
- Reduced project risk with integrated variation and compliance management
- Safe and secure EFT payments