Family Office Technology Hub
Choosing Your Tech Stack: Insights from Outsourced Family Office Providers (30min Excerpt from Full 1-Hour Episode)
Dec 24, 2024
In this insightful discussion, Patty Esslinger, VP & Head of Product at Trove Family Office, shares her expertise on the importance of a strategic roadmap for vendor selection and long-term tech planning. Neil Shapiro, Head of Family Office Practice at TAG Associates, offers fascinating case studies on successful tech stack implementations, balancing innovation with budget constraints. The guests emphasize navigating legacy systems and the critical role of cybersecurity in sustaining technology investments.
27:04
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Quick takeaways
- A clear technology roadmap that identifies organizational goals and challenges is essential for guiding vendor selection and implementation.
- Balancing innovation with cost management is critical, requiring firms to quantify both tangible and intangible benefits from new technology investments.
Deep dives
Selecting the Right Tech Stack
Choosing the appropriate technology stack is vital for family office providers, as it directly impacts their ability to meet client needs and promote efficiency. A structured selection process begins with a clear understanding of organizational goals and challenges, allowing firms to identify what they aim to solve before evaluating vendors. Panelists emphasized the necessity of creating a roadmap that outlines short and long-term objectives, which helps guide the vendor selection process effectively. Engaging with vendors through demos, references, and sandbox environments is recommended to ensure that the chosen technology aligns with specific requirements and organizational strategies.
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