Press Release – May 2, 2023
AIA Contract Documents (ACD), provider of Industry Standard contract documents, today announced it has renewed its long-standing relationship with Oracle. Since 2007, ACD’s billing forms have powered Oracle Textura Payment Management, helping streamline the subcontractor payment management process on construction projects valuing more than $1 trillion in aggregate.
“We are extremely excited to continue our relationship with Oracle,” said ACD CEO Chris Anderson. “Today’s announcement ensures our documents can continue to be seamlessly used within Textura, an industry standard which general contractors, owners, and subcontractors of all sizes rely on to simplify the billing and payments process. We look forward to helping our customers grow their businesses and continuing this collaboration for years to come.”
“By embedding ACD’s Industry Standard G702 and G703 series forms directly into Oracle Textura it has helped improve the payment outcomes for our customers,” said Mark Webster, Senior Vice President and General Manager, Oracle Construction and Engineering. “This integration automates the payment process to help prevent human error, reducing incorrect billing and improving accuracy. Together it gives construction organizations transparency and greater accuracy for a more predictable cash flow, and the opportunity to continue to strengthen their project partner relationships.”
Oracle Textura is part of the Oracle Smart Construction Platform, which combines industry-trusted applications with a common data environment and an ecosystem of partners to help owners and project teams work together and continuously improve outcomes across the project and asset lifecycles.
For more information on this and other ACD partnerships, please visit aiacontracts.com/partners.
About AIA Contract Documents
AIA Contract Documents is a digital platform that includes the more than 240 forms and contracts that define the relationships and terms involved in design and construction projects. Backed by the 135-year legacy of the American Institute of Architects, these comprehensive documents are widely recognized as the Industry Standard, and are used by all industry professionals, including architects, contractors, owners, consultants, and attorneys.
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