What should be in your tech stack?

Importance of a Thoughtful and Well-Planned Tech Stack

A well-planned and purposeful tech stack can greatly impact productivity and problem-solving capabilities. It is crucial to define the goals and objectives of the business or practice when building a tech stack. Considerations such as operating system compatibility, stability and reliability of the platforms, and jurisdictional controls for data storage should be taken into account. It is also important to evaluate factors like tech support, security, and connections between platforms. Regularly reviewing and updating the tech stack, with a backup tool in mind for each component, is recommended to ensure the technology remains effective and efficient.

Common Mistakes in Managing Tech Stacks

One common mistake is overlooking the management of security, including connections between platforms and potential vulnerabilities. Having an overarching security strategy is essential to protect against breaches and ensure data integrity. Another mistake is failing to consider compatibility and synchronization when using digital plumbing tools or APIs to connect different platforms. Data backup and the ability to roll back to previous states are critical aspects that are often underestimated. It's important to be mindful of security, compatibility, and backup measures when managing a tech stack.

Keeping the Tech Stack Up to Date

It is crucial to regularly review and update the tech stack to keep up with evolving software and technology. No technology should be allowed to go more than 10 years without evaluation. Rotating the evaluation of each tool in the stack annually and considering substitute tools for backup purposes is recommended. Aligning organizational strategies and tactics with technology strategies and staying updated on changes in the marketplace is necessary. Being proactive in technology updates helps avoid relying on outdated systems and keeps the practice or business efficient and competitive.

Building a Tech Stack: Personalized and Process-driven Approach

Building a tech stack requires a personalized approach based on the specific needs and objectives of the business or practice. It is important to conduct thorough research, looking beyond sales pitches and ratings, to determine the best-fit platforms. Identifying and addressing broken or clumsy processes within the organization is crucial. Developing a well-designed process-oriented tech stack that enables excellent service delivery is the key. Emphasizing process optimization, security, maintaining partnerships with vendors, and being open to change are fundamental to building and managing an effective tech stack.

Accounting Today Podcast

What should be in your tech stack?

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Quick takeaways

Deep dives

Importance of a Thoughtful and Well-Planned Tech Stack

Common Mistakes in Managing Tech Stacks

Keeping the Tech Stack Up to Date

Building a Tech Stack: Personalized and Process-driven Approach

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