Oracle Textura Surpasses $1 Trillion in Construction Payments Processed

Rhea-AI Summary

Oracle Textura Payment Management Cloud Service has achieved a significant milestone by processing over $1 trillion in construction payments to subcontractors. The platform has served more than 120,000 projects from over 800 general contractors and project owners, along with 200,000+ subcontractors since its 2006 launch.

The cloud-based payment management system processes an average of $16 billion in payments monthly, helping construction companies streamline billing and payment processes. The solution enables faster payments, improved compliance risk management, enhanced lien waiver handling, and more predictable cash flow for construction industry participants of all sizes.

Walsh Group's CIO Tim Nottoli praised the platform for modernizing their subcontractor invoice payment process, highlighting its security, standardization, and efficiency across projects.

Positive

• Reached $1 trillion milestone in construction payments processed
• Processes $16 billion in payments monthly
• Extensive market penetration with 800+ contractors and 200,000+ subcontractors
• Strong client testimonial from major construction company Walsh Group

Negative

• None.

Insights

Financial Technology Analyst

Oracle Textura's milestone of processing $1 trillion in construction payments demonstrates impressive market penetration and revenue-generating potential within the construction payment processing sector. The platform's processing of $16 billion monthly indicates a robust recurring revenue stream for Oracle's cloud services division.

The platform's success in attracting over 800 general contractors and 200,000 subcontractors represents significant network effects and high switching costs, creating a strong moat for Oracle in the construction payment space. This established ecosystem makes it increasingly difficult for competitors to displace Oracle's position in construction payment processing.

For investors, this validates Oracle's strategic expansion into industry-specific cloud solutions beyond its traditional database business. The construction sector's digital transformation presents a substantial growth opportunity, especially considering the industry's historical resistance to technological adoption. The success of Textura suggests Oracle is well-positioned to capture additional market share in other industry-specific payment solutions.

Construction Industry Analyst

The widespread adoption of Oracle Textura by major contractors like Walsh Group signals a fundamental shift in construction industry payment practices. The digitalization of payment processes addresses critical industry pain points including payment delays, compliance risks and cash flow management - issues that have historically plagued the construction sector.

The platform's ability to process payments for 120,000 projects demonstrates substantial scale and indicates strong product-market fit. For construction companies, the standardization of payment processes across projects represents significant operational efficiency gains and risk reduction. The integration of lien waiver management is particularly valuable given the complex regulatory environment in construction.

Looking ahead, this positions Oracle to potentially expand into adjacent construction management functionalities, leveraging their established customer base. The construction industry's continued digital transformation, coupled with increasing regulatory requirements, suggests sustained growth potential for Oracle's construction-focused solutions.

Cloud payment management system helps construction companies accelerate payments while mitigating risk and improving productivity and cash flow

AUSTIN, Texas, Jan. 8, 2025 /PRNewswire/ -- Oracle Textura Payment Management Cloud Service has now processed over $1 trillion in construction payments to subcontractors. This milestone represents work on more than 120,000 projects from over 800 general contractors and project owners, and over 200,000 subcontractors since Textura first launched in 2006.

"Oracle Textura greatly modernized the process by which we pay our subcontractor invoices," said Tim Nottoli, CIO, Walsh Group. "In my personal life, I pay my bills all through a banking app, there are no more checks. Oracle Textura has done the same for our project accounting teams as they accept subcontractor invoices and waivers and issue payments. We found Textura's customer success team to be committed, their platform to be flexible, and the process to be easy and efficient. With Textura, we now have a standardized payment process, across our projects that is secure and enjoyable."

Transforming construction payment processing 
Oracle Textura Payment Management is a cloud application that helps general contractors, owners, and subcontractors of all sizes to simplify the billing and payments process. With the collaboration solution, project participants can accelerate payments, mitigate compliance risk, improve lien waiver and compliance management, and make cash flow more predictable. The system processes, on average $16 billion in payments each month.

"We want to thank our customers for their trust in Oracle Textura to help them manage such a vital aspect of their operation," said Mike Antis, global vice president, Oracle Textura. "By implementing a collaborative payment management solution, construction companies are not just streamlining their payment processes, but also contributing to the overall health and growth of their companies and the industry overall. We are optimistic that our clients will continue to thrive and expand in the next 12 months and beyond."

Learn how Oracle Textura Payment Management can increase productivity and improve cash flow by reducing errors, and mitigating financial, legal, and reputational risk.

About Oracle Construction and Engineering
Asset owners and project leaders rely on Oracle Construction and Engineering solutions for the visibility and control, connected supply chain, and data security needed to drive performance and mitigate risk across their processes, projects, and organization. Our scalable cloud construction management software solutions enable digital transformation for teams that plan, build, and operate critical assets, improving efficiency, collaboration, and change control across the project lifecycle. www.oracle.com/construction-and-engineering.

About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

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SOURCE Oracle

FAQ

How much does Oracle (ORCL) Textura process in monthly construction payments?

Oracle Textura processes an average of $16 billion in construction payments monthly.

When did Oracle (ORCL) Textura launch its payment management service?

Oracle Textura Payment Management service launched in 2006.

How many contractors and subcontractors use Oracle (ORCL) Textura?

Oracle Textura serves over 800 general contractors and project owners, along with more than 200,000 subcontractors.

What total payment volume has Oracle (ORCL) Textura processed since launch?

Oracle Textura has processed over $1 trillion in construction payments since its launch.

How many construction projects has Oracle (ORCL) Textura managed?

Oracle Textura has managed more than 120,000 construction projects.