Case Study: Joseph Design Build
Joseph Design Build Uses Adaptive’s Automated Financial Management Software to Support Exponential Growth
Joseph Design Build is a luxury developer and homebuilder in Austin, Texas that has grown its back-office productivity by using Adaptive’s software solutions instead of hiring more staff
Joseph Design Build, based in Austin, Texas, is a luxury design-build firm founded by brothers Gabe and Thomas Joseph in 2014. Since its founding, the firm has grown exponentially and now has $160 million of active project pipeline in key neighborhoods around Downtown Austin. To manage the company’s exciting growth and increasingly complex organization, Joseph Design Build invested in its back-office and hired a full team of accounting, IT, and operations staff. They realized quickly, though, that to really drive increased profitability and operational efficiency, they needed to leverage technology – Adaptive’s financial software was a great place to start.
“Adaptive has allowed us to scale significantly without hiring additional accounting staff. It's easily saved us $100k per year,” said Co-Founder and Partner Gabe Joseph.
Adaptive is an easy-to-use, automated software platform that saves construction companies time and money by combining simple software and artificial intelligence technology to automate back-office financial management workflows. The company was founded in 2021 and has raised $7.25 million in funding from financial investors, construction companies, and a diverse group of individual construction and financial executives.
It only takes a few minutes for customers to sign up for Adaptive and get access to the company’s full suite of automated financial management tools: automated budgets and draws, automated data entry, debit/credit card transaction reconciliation, approval workflows, and vendor management.
Before Adaptive, Joseph Design Build accountants would spend 2-3 weeks processing a project’s draw – 50% slower than the company’s target rate of <2 weeks, which would enable them to compile and submit draws twice per month per project. To hit its goal, the Joseph Design Build team considered hiring additional accounting staff for support, including some team members specifically focused on draws. Instead, it can “hire” Adaptive to do the work at a fraction of the cost.
And it’s not just for processing draws – Joseph Design Build leverages Adaptive’s suite of solutions across several financial management workflows. One accountant at the company says it was “fun and easy” to push bill payments to subcontractors via the Adaptive portal. The company’s non-accountants are also using the platform, as Superintendents in the field submit and job-cost their credit card expenses via Adaptive’s mobile upload feature (which then get routed for approved by the team in the office).
“I’m proud of the Joseph Design Build team, and they have been instrumental in helping us grow the business. Combining their skillsets with Adaptive’s software platform creates a win-win for everybody,” says Joseph. “Employee morale is much higher now that our team isn’t wasting time on manual spreadsheets and reconciliation. I am more excited for the future knowing that we can continue to win new projects and increase sales without the stress of having to grow costs at the same pace.”
Adaptive believes the impact their software has had at Joseph Design Build extends across the entire construction industry. According to McKinsey, productivity has stagnated in construction but accelerating in other industries (for example, manufacturing productivity has doubled since 1990s). By automating manual processes, Adaptive’s software can help companies turn unproductive time into productive time.