WonderBuilds streamlined accounts receivables processes with Kolleno
We had an insightful conversation with Dina Vaisman and Mike Lurchenko, Directors at WonderBuilds, discussing their strategies for managing finances, building strong client relationships, and overcoming challenges in the roofing, waterproofing, and insulation materials industry.
WonderBuilds offers a range of high-quality, cost-efficient roofing, waterproofing, and insulation materials to roofing contractors, builders, timber, and plastic merchants across the country. With a focus on providing exceptional products and customer service, WonderBuilds has become a trusted supplier in the construction industry.
As WonderBuilds’ business grew, they faced increasing challenges in managing their accounts receivable. Late payments and unresponsive clients put a strain on their cash flow, limiting their ability to invest in new product development and inventory management. Furthermore, the task of tracking and reconciling invoices became time-consuming, diverting resources away from their core business.
WonderBuilds turned to Kolleno’s accounts receivable management solution to optimise their invoicing and payment processes. The customer payment portal made it easier for clients to access and pay invoices, while the template creation feature allowed WonderBuilds to craft customised invoices for their diverse product offerings. Kolleno’s advanced reporting tools provided valuable insights into client payment behaviours, empowering the company to proactively address issues and enhance cash flow management.
With Kolleno’s help, WonderBuilds saw a 37% reduction in overdue payments within the first six months, leading to a 33% improvement in cash flow stability. This enabled the company to invest in expanding their product range and enhancing inventory management. The time spent on managing accounts receivable decreased by 35%, allowing the team to focus on delivering top-notch products and customer service.
WonderBuilds’ partnership with Kolleno has significantly improved their accounts receivable management and cash flow, allowing them to better manage their growing business. By streamlining payment processes and leveraging Kolleno’s insights into client payment behaviours, WonderBuilds has been able to concentrate on providing outstanding products and service to their clients. The improvements in cash flow and time management have not only contributed to WonderBuilds’ ongoing success but have also set the stage for future growth and expansion.