Articles & Alerts
Building the Right Tech Stack: A Make-or-Break Moment for Growing Businesses
As businesses continue to grow, so does the need for robust accounting and finance functions. One of the first things a business should do is invest in the proper tech stack – a decision that can shape efficiency and long-term success. From streamlining financial operations to enhancing real-time decision-making, the tech stacks that power a business behind the scenes are just as vital as those visible to clients. However, the endless array of tools offering similar features can make the selection process challenging. In today’s crowded landscape, choosing the wrong tech stack can cost more than just time—it can hinder growth.
What is a Tech Stack?
A tech stack refers to the suite of integrated tools, platforms, and technologies that a company uses to run its operations and deliver its services or products. In the finance and accounting realm, this includes everything from general ledger software to expense management and financial reporting tools. The most effective stacks are those designed with both scalability and integration in mind—ensuring tools can seamlessly “talk” to each other and eliminate silos.
Why Finance and Accounting Tech Stacks Matter
Whether a high-growth startup or an established enterprise, a business’s finance infrastructure must align with its business objectives and growth goals. Outdated or fragmented systems can slow cash flow, cause reporting delays, and hamper strategic agility. A modern tech stack, by contrast, improves efficiency, enables better visibility, and frees up an organization’s team to focus on higher-value initiatives.
Characteristics of a High-Performing Stack
The firms leading the way in tech adoption aren’t just chasing the newest trend—they’re focused on measurable outcomes. The most valuable stacks:
- Are well-integrated, reducing manual data entry and eliminating errors.
- Feature workflow automation, enhancing efficiency and scalability.
- Support remote work and client mobility, addressing today’s hybrid realities.
- Provide real-time data visibility, allowing leadership to make timely, informed decisions.
- Enhance security and compliance, particularly when dealing with sensitive financial data.
To determine the right tools for a business, it’s important to understand how different levels of technology compare. The table below outlines key differences between entry-level software, mid-tier ERP systems, and fully customized ERP solutions.
| Type | Description | Best For | Considerations |
|---|---|---|---|
| Entry-Level Software | Basic, user-friendly tools (e.g., QuickBooks, Xero) that handle core accounting functions. | Startups and small businesses | Affordable and easy to use but limited in scalability and integration. |
| Mid-Level ERP | More robust systems (e.g., NetSuite, Sage Intacct, Yardi, MRI) offering integrated financial, payroll, and reporting tools. | Growing and/or complex, mid-sized companies | Higher cost, but enables automation, real-time data, and multi-entity support. |
| Custom ERP | Fully tailored platforms built for complex workflows, often industry- specific. | Larger or rapidly scaling businesses with unique needs | Significant investment that requires IT resources but allows complete customization and scalability. |
Selecting the Right Finance Tech Stack
Choosing the right tools isn’t just about comparing features—it’s about ensuring the systems align with the business’s goals and can evolve as the business grows. The selection process should begin with a careful assessment of existing workflows, pain points, and long-term objectives. From there, the goal is to identify solutions that integrate seamlessly, reduce inefficiencies, and provide clear, actionable data.
Advisors, such as Anchin’s Client Accounting Services (CAS), familiar with finance technology can help businesses navigate an increasingly crowded marketplace. Anchin’s specialists partner with growth-minded businesses to evaluate and optimize tech stacks tailored to their operations—bringing perspective on which systems are proven to scale, where automation delivers the most impact, and how to avoid over-investing in features that are not needed. By assessing current workflows and identifying pain points, Anchin’s CAS Team assists with evaluating technologies that not only solve a business’s current issues but also align with its overall goals to enhance integration, efficiency, and data clarity. Whether implementing KPIs, automating payroll processes, or building dashboards to enhance visibility, the right guidance ensures that every tool in an organization’s tech stack serves a strategic purpose.
An adaptable, future-ready tech stack is more than just a collection of tools—it’s a foundation for smarter, faster decision-making and long-term success. With Anchin’s CAS team guiding the process, businesses can avoid “tech fatigue,” eliminate inefficiencies, and turn their finance functions into growth engines.
Ready to upgrade your accounting infrastructure?
Contact Anthony Carrella, Partner and Leader of Anchin’s CAS Group, or speak with your Anchin Relationship Partner to get started.
