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New AI Agent Capabilities in Oracle Textura Help Accelerate Subcontractor Payments

1. Oracle introduced AI capabilities in Textura Payment Management Cloud Service for subcontractors. 2. New features provide real-time assistance, reducing support calls and improving efficiency. 3. Textura has processed over $1 trillion in payments for more than 200,000 subcontractors. 4. Subcontractors can now quickly check payment status and compliance requirements. 5. The new AI tools enhance subcontractor relationships, especially during crucial draw weeks.

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Why Bullish?

The enhanced capabilities should drive increased user engagement and retention. Historical precedents show such technology upgrades correlate with stock value increases in tech firms.

How important is it?

The introduction of AI in a critical service like payment management can directly enhance ORCL's competitive position, likely affecting market perception positively.

Why Long Term?

Ongoing adoption of AI in enterprise solutions translates into sustained growth, similar to Oracle's past software innovations that bolstered long-term profitability.

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Subcontractors can now receive real-time, personalized assistance with payment status, signing documents, and more, saving valuable time , /PRNewswire/ -- Oracle Customer Edge Summit -- Oracle today announced new AI agent capabilities embedded directly within Oracle Textura Payment Management Cloud Service. Available to all Textura subcontractors in the US, the integrated generative AI-powered assistant provides real-time, personalized support to get quick answers to common pay application questions and complete other required tasks. One of the most used construction payment solutions in the industry, Textura has processed over $1 trillion in construction payments to subcontractors. This represents work on more than 120,000 projects and payments to over 200,000 subcontractors since Textura first launched in 2006. Currently, organizations call Textura support 11,500 times per month, on average, to get answers to questions including payment timelines. The new AI agent capabilities help reduce the need for support and time spent navigating screens to find the status of a pay application, invoice, or how to use the system. Subcontractors can simply type in the assistant "what is the status of my payment?" The assistant then would provide a contextualized response and subsequent actions. For example, it could bring up a list of all the projects that a subcontractor has and ask them to click which draw they are referring to. Once clicked, the assistant could note that the payment has not been released due to a lack of a signed compliance document and then provide the form for signing and submission.  "Subcontractors are essential to project success but paying them quickly and correctly is a complex process. This is the reason we created Textura and why so many contractors have adopted the solution," said Mike Antis, global vice president, Textura. "By adding agentic AI capabilities, we are taking even more time and hassle out of the payment process, especially in those vital subcontractor 'draw weeks.' With the ability to get in-app, real-time assistance 24/7, we are helping our general contractor customers improve the relationships with their subcontractors while reducing costly support calls. This enhancement helps improve the experience for the 200,000 subcontractors who log in to Textura each month, assisting them to quickly find the answers they need to get paid and focus more of their time on the job at hand." About OracleOracle 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. TrademarksOracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing. SOURCE Oracle WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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