Wildest Dreams' Partnership with Adaptive: Recovering $5 Million in Revenue for Clients

🔑 Key Takeaways

• Time Saved: Wildest Dreams saved hours each week on data entry and reduced the time taken to complete reconciliations by 30%, allowing them to focus on high-value advisory services for their clients.
• Client Satisfaction: Improvements in accuracy, communication, and compliance led to greater satisfaction among Wildest Dreams' clients, many of whom became long-term partners.
• Client ROI: Through detailed project audits, Wildest Dreams recovered $5 million in unbilled revenue for their clients—a clear indication of the value of combining construction-focused expertise with a robust financial platform.

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Wildest Dreams, a construction-focused accounting operations firm, partnered with Adaptive to tackle the complexities of managing builders' financials. This collaboration allowed Wildest Dreams to automate bookkeeping processes, streamline job costing, and enhance client communication, resulting in improved accuracy and efficiency for their clients.

Wildest Dreams is a software-enabled accounting operations firm specializing in highly detailed accounting and financial management solutions for general contractors (GCs), homebuilders, and real estate developers. By leveraging technology, Wildest Dreams helps their clients navigate the complexities of construction financials. However, even with robust solutions in place, they found that the traditional approach to bookkeeping and project financials faced challenges.

Adaptive is an AI-native integrated financial management platform specifically built for the construction industry. With data entry automation, job costing, bill pay, and expense management, Adaptive empowers construction-focused firms to simplify financial tasks and focus on what matters most—driving growth and profitability.

Challenge: Manual Processes Leading to Lost Profits and Cash Flow Issues

Many of Wildest Dreams' clients faced significant challenges due to the manual nature of their bookkeeping processes and project financials.

• Manual Data Entry: Labor-intensive processes led to delayed or erroneous draws, causing messy financials and cash flow issues.
• Job Costing Difficulties: Builders struggled to track expenses accurately, making it hard to generate reliable budgets.
• Inefficient Communication: Discrepancies between accounting teams and builders over budget-to-actuals reports caused inefficiencies and reduced profitability.

Wildest Dreams needed a solution that would address these pain points, help improve accuracy, and provide their clients with the clarity they needed to manage their projects effectively.

Solution: Adaptive's Impact on Wildest Dreams' Operations

Wildest Dreams turned to Adaptive to simplify and automate the complexities of construction accounting for their clients.

• Automation of Manual Tasks: Adaptive's AI-powered platform automated data entry, allowing Wildest Dreams to reduce the time spent on bookkeeping. By automatically reading receipts and bills and accurately coding expenses, Adaptive eliminated the need for manual entry and minimized errors.
• Improved Job Costing: With Adaptive's job costing features, Wildest Dreams was able to allocate expenses to specific projects in real time. This gave builders much-needed clarity on their budgets, helping them to keep their projects on track and avoid financial surprises.
• Enhanced Client Communication: Adaptive's integration of approval workflows allowed builders to review and approve expenses directly within the platform. This seamless process reduced the need for back-and-forth communication and enabled quicker resolution of billing questions, making client interactions more efficient and transparent.

“Adaptive has been a game-changer for our client engagements, automating time-consuming tasks and giving our clients real-time financial insights. This has allowed us to focus more on strategic services, improve accuracy, and strengthen client relationships, all while helping our clients boost profitability and reduce delays.”
‍- Chloe Brown, Founder & CEO, Wildest Dreams

Long-Term Impact of Using Adaptive

For Wildest Dreams:

• Increased Efficiency: By automating manual data entry and billing processes, Wildest Dreams was able to take on more clients without expanding their team, leading to increased revenue.
• Enhanced Client Trust: Adaptive's automation allowed Wildest Dreams to spend more time on advisory services, helping them strengthen relationships with clients and offer valuable strategic insights.
• Scalable Solutions: Adaptive's seamless QuickBooks integration and user-friendly interface enabled Wildest Dreams to standardize their services, which made onboarding new clients faster and more efficient, supporting growth without added complexity.

For the Clients:

• Real-Time Financial Insights: Builders gained a clearer view of job costs, budgets, and overall financial health, helping them make more informed decisions and manage projects proactively.
• Reduced Errors and Delays: Automation eliminated the common errors associated with manual data entry, ensuring accurate financial records and timely reporting. This, in turn, helped minimize project delays caused by financial mismanagement.
• Streamlined Processes: Approval workflows and automated expense tracking allowed clients to focus on growing their business rather than being bogged down by administrative tasks.

Adaptive's AI-native platform has become an invaluable tool for Wildest Dreams and their clients. Wildest Dreams’ success is a testament to how integrated financial management can lead to greater efficiency, improved client satisfaction, and sustainable growth in the construction industry.