Business Classification Tracking

Introducing a new Business Classification Tracking feature that greatly enhances the business intelligence and reporting capabilities of Oracle Textura Payment Manager. This feature will allow General Contractors to customize the business classifications they're tracking on a project (e.g., M/WBE certification, contract category, etc.), and enable reporting of contract values and invoiced amounts according to the classification. Values may be assigned to every subcontractor and sub-tier organization participating in a project, and supporting certifications can be uploaded and tracked.

The highly customizable tool allows eligible user to define any number of business classifications at the enterprise and configure them at the project level, and/or define project-specific classifications for tracking. Enterprise level classifications can be defined by users who have Manage Compliance permission and have an Administrator role. Classifications can be configured or created on a project by users who have Manage Compliance permission and a role on the project.

Once configured, business classification tracking values can be assigned to every subcontractor and sub-tier on the project, and the dashboard will reflect contract and paid invoice values in real time, enabling the tracking of progress against requirements and goals.

You can also use the download feature to save the values for your own records and easily generate custom reporting to owners, regulatory agencies, and other interested stakeholders.

Access the Business Classification Tracking page from the Compliance menu, once the setting is configured in Project Settings. This page is accessible to users who have Manage Compliance permission enabled.

View the Video: Tour the Business Classification Tracking Dashboard, or review the Business Classification Tracking page to learn about this feature.

Video Spotlight

Video Tour the Integration Home

Textura Payment Management Analytics Introduction

Enhancements

Documents notarized by notaries from Florida will include specific text as required by Florida notary law. The certificate number is now a required field on the Edit User page for these notaries. Learn more about Notarization.

Signing Report: Selecting the Signing Report link on the Draw Home page now directs you to Generate Signing Report page for the project and draw, allowing you to easily extract from TPM detailed information about signing transactions.

General Contractors

Textura Analytics: The Portfolio dashboard now includes a new Snapshot for Invoice Aging. This snapshot separates your outstanding unpaid invoices by age and status. Hover over or click on any section of the graph to expose additional invoice detail. The Average Days to Approve, Pay snapshot has been updated to include drill down capabilities. Click any section of the graph to expose invoice details for a specific Draw Month. The details table within the Payment dashboard now includes the Payment Due Date for each payment record. The Payment Hold dashboard has been enhanced with a filter for hold set and release methods. In addition, the details table now exposes the number of holds for each project.

Last Published Wednesday, August 7, 2024