Choosing the right technology stack for your firm is not an easy task. Over the past five years, there has been a proliferation in technology solutions. For example, just in marketing alone, there are over 5,000 available softwares to pick from. Not to mention that leveraging technology to service other parts of the organization such as accounting, operations, project management, customer service and more.
Traditionally, a technology stack or ‘tech stack’ for short is a combination of software product and programming languages that are used to create websites or mobile applications. On the other hand, in today’s day and age, the phrase “tech stack” has become an overarching umbrella for the set of software and tools that a company uses to create, service and deliver value to its clients/ customers. Three easy ways to evaluate your tech stack are described below.
1. Start with the basic
For team members to stay focused on their roles, there are defined processes to help manage the expectations and workflow. Tools like dropbox enables file sharing, and also improves collaboration and efficiency. Other software like FreshBooks and QuickBooks can be used as accounting tools that can keep track of expenses and billing. These softwares increase the level of efficiency in processes and eliminate redundant steps in workflow.
2. Map Out the Customer’s Journey
Do you know the needs of your customers? Their purchasing behavior? What information are they looking for? It’s only possible to form detailed alignments of technology, data and individual processes once you have an in-depth comprehension of the total experience that consumers go through when they interact with your company or brand. From there, it is imperative that the technology you employ does not create any gaps and barriers in delivering on their expectations as a consumer.
3. Have a Growth Plan
Technology can help with the on-boarding and tracking of employees, as well as generating insights for areas of improvements. While cost is an important factor when critiquing your tech stack, if you find the quality tools that can help the business grow, you should not solely focus on the price tag. It is important that you plan for the future: what are your potential growth needs? Where can you differentiate your product from your competitors? What is your unique selling point? How would these tools be cost-efficient in the long term? The tech stack used should hit on the points of: strategy and design, recruitment, development, intent and motivation, co-sell and co-market, manage and report.
Whenever you are choosing what technology to invest or reinvest in to provide the highest value to your company and your clients, you should always take your time and do appropriate research. Furthermore, make sure to frequently reevaluate the ROI provided by each tool in your tech stack.
