Oracle is revolutionizing construction payment management with a major AI-driven upgrade to its Textura Payment Management Cloud Service.
The newly embedded AI-powered assistant is set to streamline operations, reduce support inquiries, and help subcontractors quickly navigate payment processes, reporta ENR.
The AI agent, now part of Oracle Textura Intelligence, integrates with multiple Oracle Cloud Infrastructure AI services, including Oracle Language Service.
The system is designed to eliminate the need for subcontractors to contact support, providing instant responses to payment-related inquiries.
Instant Status Updates: Subcontractors can ask, “What is the status of my payment?” and receive a detailed response. The assistant analyzes Textura’s data, identifies any missing compliance documents, and even provides the necessary forms for completion.
Seamless Information Retrieval: The AI automates documentation checks, notifying users of missing information (e.g., notarized forms). If an issue requires further assistance, the AI can seamlessly escalate it to a live support agent via chat or call.
“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 at Oracle.
“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.”
Generative AI Ehancing payment processing
The AI-powered assistant is more than just a chatbot. Oracle’s Generative AI service works alongside Payment AI to provide contextual answers and real-time payment insights.
How it works:
- A subcontractor asks about payment status.
- Generative AI interprets the query.
- Payment AI accesses Textura’s database via an API.
- Generative AI compiles a clear response listing relevant projects.
This back-and-forth between Generative AI and agent-based AI creates a faster, more intuitive experience, reducing delays and boosting efficiency in construction finance management.
AI’s growing role in construction tech
Oracle’s AI assistant reflects a larger trend in the construction industry, where AI is transforming project management and finance.
Companies like Trunk Tools are using AI-powered agents to retrieve project documentation instantly, and even Autodesk has restructured its workforce to prioritize AI development.
As automation and AI integration become industry standards, Oracle’s AI-driven Textura upgrade positions it as a leader in construction payment solutions, promising a smarter, faster, and more efficient financial workflow for contractors and subcontractors alike.
