Accurate and timely payment claims are crucial to your company’s cash flow, yet each claim is fraught with uncertainty and is a heavily paper-laden process. The claims process is made more difficult by the various documentation and compliance requirements demanded by each individual Builder you work with.
- Are previously certified amounts accurately reflected in the current month’s claim?
- Do you and your Builder have the same view of past variations requests – both approved and unapproved?
- Are payments ever delayed due to expired or missing compliance documents, often when least expected?
- Do you revise your tax invoice whenever a Builder marks down your payment request?
- Are you aware of your claim status and are you receiving proper payment schedule and tax invoice documentation?
- Are you able to track retentions accurately over the life of your project, through to final billing?
Textura®—CPM provides a web-based system where you and your Builder have a single, common view of your claims, variations, compliance, and payment status.
Benefits for you as a Subcontractor include:
- Accurate and complete payment claims resulting in a more predictable cash flow
- Fast, easy claim submittal with automatic document creation in Builder-required formats
- Clear history of variation claims – shared with the Builder
- Visibility into claim status, assessed value and expected payment amount
- Reduced risk of payment delay with automated notifications of missing or expired compliance documents