![]() The GC instructs their bank to process a payment, via ACH, to the subcontractor’s bank.At this point, the GC can only view an unsigned copy of the waiver. The sub signs and uploads an unconditional lien waiver to the CPM, where it waits in a virtual holding chamber.The GC approves payment and requests a lien waiver.The subcontractor sends a payment application to the GC electronically through the CPM.In any event, the CPM lien waiver exchange works in the following manner: Whether or not this is an actual problem, or requires an escrow solution is debatable at the very least. Through the CPM lien waiver exchange, Textura purports to solve the problem of GCs not wanting to pay until a lien waiver is received, and the subcontractor not wanting to give a lien waiver until a payment is received by providing an “ escrow-type” solution. ![]() One of the primary features of the CPM is the ability to exchange lien waivers digitally. While the CPM user-interface seems a bit dated, the value proposition extended to subcontractors appears to be providing the subcontractor the ability to migrate manual paper processes (sending invoices, lien waivers, and checks) through the internet. How to use Textura CPMĬPM is designed to help ge with three categories of functions within construction payment management: ![]() Though information is difficult to find, this article will attempt to provide subcontractors an overview of Textura’s CPM, and things that it may be worth keeping an eye on. Because of this, it is important for the subcontractors – the real end-users – to understand the platform. In order to do so, those subcontractors must pay for, and use, the CPM software. General contractors use CPM to request payment and lien waivers, and to keep track of their subcontractors. Take, for example, Textura’s Client Success Stories, the majority of which highlight the benefits to general contractor or construction management firms. Even Textura’s Early Payment Program, which sounds promising at first glance, ends up passing additional costs on to subcontractors. This seems odd, considering that more than 500,000 subcontractors have used Textura’s software products, compared to only 8,000 general contractors, owners/developers, and architects (according to ).ĭespite this enormous disparity in the number of end-users, many of Textura’s functions and features seem to exist largely, or solely, to benefit general contractors. Unfortunately, is near impossible to find information from Textura that specifically explains to subcontractors how they might use the CPM, the tangible benefits of doing so, or the associated costs. Oracle purchased Textura in 2016 for $663 million, planning to integrate the CPM into their Primavera project management platform. It even supposedly allows GCs to pay subtier contractors directly. The software integrates with ERP systems to allow subcontractors to submit pay applications and lien waivers online, and receive payments electronically after approval. ![]() Textura CPM is a platform for managing invoices and payments on construction projects. Subcontractor Complaints About Textura CPM.How Much Does Textura CPM Cost for Subcontractors?.
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