Technology is constantly advancing and changing. The best way to stay ahead of the curve and be on the cutting-edge of what your customers want is to stay up to date with the latest tech trends. However, this is easier said than done. Choosing the best tech stack for your business can be more challenging than it seems.
In this post, we’ll share a few tips for making this process easier. We’ll also explore some of the newest tech trends and give you a few ideas for incorporating them into your business.
1. What is a tech stack?
A tech stack is simply all the technology you use to run your business. With so much to choose from and everyone offering free trials, it’s hard to know where to start, especially when technology is constantly evolving.
As far as accounting apps go, we love Xero. We consider it an essential app to include in your tech stack. Xero is user friendly and allows you to automate your day-to-day bookkeeping tasks, saving you tons of time. You can also import bank transactions, send invoice reminders, and analyze profitability.
2. What are the latest tech trends?
Today’s tech trends are constantly changing. It’s important to stay up-to-date on the latest and greatest so that you are able to make the best choice for your company. The latest tech trends in business include voice assistants, virtual reality, and artificial intelligence (just to name a few). When it comes to fintech, you also have things like blockchain and cryptocurrency to consider.
With all this technology available, how do you know which apps and software are the best for your business?
3. How do you choose the best tech stack for your business?
There are many different tech trends you can incorporate into your business. The sad truth about tech is, according to Embroker, tech startups have a 51.3% success rate. This is a five-year survival rate. For businesses as a whole, the five-year survival rate is 70%. If you’re risk averse, you may want to select your tech stack products from those that have been around for awhile.
Start your search by narrowing down what you want your tech to do. Make a list of all the things you do in your business that need tech. From there, you’ll need to decide if you want one app that does it all (or as close to that as possible) or if you’re okay with having several apps and software packages.
We mentioned Xero above, and one of the many reasons we love it is because of the many integrations available. With integrations, you can improve your payment collection process, customer database management, inventory tracking, and more.
A business must have a tech stack that is compatible with their business needs. You can spend a lot of money creating a tech stack, but you don’t have to. Consider the latest trends in tech as well as what you want to accomplish with the tech you’ll ultimately end up choosing.
Our recommendation for maintaining the books and records of your business is Xero. We are a Xero Gold Partner and we are happy to answer any questions you have about getting set up with Xero. Fill out this form to get in touch.