E-Commerce Site Expands Into Broader Social Network

Description:
Social networking is coming to construction. So far, it is not a Twitter-like feed of 140 characters or less, nor is it free of charge. But it could be a highly useful tool to help firms engage each other more openly, cut risk and ease tension in a time of economic distress. One such innovator, Textura Corp., appropriately derives its name from the Latin words for “build” and “intertwine.” In just three years it has built a base of 38,000 users—and 25% of ENR Top 400 general contractors—into an innovative bill-pay site. Textura has turned the tedious business of bank draws, invoices and lien waivers into a click of a mouse with a widely used, patented electronic signature process. In other words, instead of “rowing harder” to close out ...

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