Tips for finding the right tech for your business
Build a Tech Stack for Business
In technology, a ‘stack’ is a way of visualising a collection of software systems (tools, platforms, apps and pieces of software) used together to get work done and consists of various front end and backend technologies. They allow a system to be built that involves multiple tools but feels like one single workflow.
As a business adapts and grows it will change its tech stack to maximise efficiency and lower costs and no single piece of software or tool can accomplish everything a business needs. Successful businesses will leverage various apps and build a technology stack to achieve their business goals.
As businesses advance their digital transformations, they need to ensure that all the applications they use are integrated with their accounting software. Integration is the key to building an efficient, connected work environment. The objective being.
- Data is shared between solutions automatically, eliminating the need to rekey data and reducing the chance of errors.
- Teams make better use of time, leaving routine, repetitive tasks to technology so they can focus on higher-value activities.
- Cash flow is enhanced when accounting has all the information it needs to immediately invoice or request reimbursements for digital transactions.
- Businesses can take on more clients without hiring additional employees.
- Employees experience less stress than if they were continuously inundated with paper and manual work.
Businesses need to audit their tech stack on a regular basis. By reviewing the apps your business uses, you may discover ways to:
- Save employees’ time
- Save money on apps
- Consolidate apps
- Maintain a single source of truth for data
Identify what tools are required to run your business effectively. Any apps used should tie back to the strategy of the business. The audit must look at all the business processes, what apps are used to complete daily tasks, what is the impact of each app on employee efficiency and the overall customer experience in using the apps.
Accounting platform integrations that benefit businesses
There is no single tech stack that will work for every company. However, some types of software provide value to a wide range of businesses, particularly if they integrate with an accounting software such as Xero.
- Payroll
- Document Management
- Payments
- Billing or invoicing
- Expense Management
Industry specific solutions
Although businesses often operate with some common processes, other facets of their operations are specific to their industries. Niche software solutions are designed to meet these unique needs and provide the best possible experiences for their customers and employees. The below lists how applications in tech stacks for businesses in these industries could actually differ.
Real Estate business applications:
- Commercial property management
- Compliance management
- Commission management
- Expense management
E-commerce business applications:
- E-commerce sales platform
- Enterprise resource planning (ERP)
- Inventory management
- Online shopping cart
- Compliance management
- Commission management’
Agriculture business applications:
- Crop and livestock tracking
- Farm budgeting and forecasting
- Multi-location inventory
- Sales and distribution
Help clients optimise their IT environments with Xero
With Xero, you can utilise software from the Xero App Store. You can subscribe to SaaS solutions and connect them to Xero. The Xero App Store is home to a range of tools that help you with onboarding, invoicing, approvals, reporting and payroll. Some popular tech stack app integrations with Xero include:
- Syft
- Ignition
- FYI
- GoCardless
- Dext Prepare
By generating reports filled with insights based on app use. These provide “health checks”, including adoption rates and performance indicators. These can be used to make informed decisions about the app’s value to the business, and whether they need to look for a solution that is a better fit.
If you need assistance with finding the right tech stack for your business, please contact us at Evolve Online Bookkeeping on 07 5413 9393.
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