Standardize to Optimize: The Benefits of a Streamlined Tech Stack
If you think of standardization as the best that you know today, but which is to be improved tomorrow; you get somewhere. - Henry Ford
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Standardize to Optimize: The Benefits of a Streamlined Tech Stack
Standardizing your accounting tech stack isn’t just about picking the best accounting apps and sticking to them; it’s much more than that. Standardization is about creating a structured, intentional system where every tool integrates seamlessly, serves a distinct purpose, and eliminates redundancy.
Rationalizing your tech stack means reducing the number of apps you use, particularly those that overlap. You don’t need six different apps doing essentially the same thing. Find the best-in-class apps that solve the most problems and ditch the rest.
Think of it as curating rather than accumulating.
Many accounting professionals fall into the #AppTrap, constantly adding new software solutions because they promise efficiency, only to find themselves juggling too many tools that do not play well with each other.
By standardizing your tech stack, you establish a lean, high-performance ecosystem where every app serves a clear, defined purpose, all tools integrate seamlessly to reduce the need for manual processes, your team operates with a consistent workflow to eliminate confusion and inefficiencies, and security risks are minimized by reducing the number of platforms holding sensitive data.
How to Start Standardizing Your Tech Stack Without the Overwhelm
Standardizing your tech stack may sound like a giant PITA, but it doesn’t have to be. The key is to approach it methodically and prioritize clarity over complexity. Instead of trying to fix everything right stinkin’ now, follow a step-by-step approach to optimize your software ecosystem gradually.
This process involves assessing your current tools, eliminating redundancies, selecting best-in-class software, and ensuring seamless integration.
Here is how you can start:
Step 1: Conduct a Tech Stack Audit
Before making changes, take inventory of every tool currently in use. Many firms do not realize how many apps they have accumulated over time, some of which may no longer be useful or necessary.
How to Perform a Tech Stack Audit
Create a list of all the apps your firm is currently using
This includes accounting platforms, document storage solutions, communication tools, automation software, and niche applications for specific tasks
Don’t forget the free ones, which may not show up in your financial records
Categorize each app based on its primary function
Organize them into bookkeeping, document management, CRM, payment processing, workflow automation, and communication
Take stock of whether they are client-facing or just internal so you know how the client experience may be impacted
Identify overlapping functionality
Look for cases where two or more apps perform similar tasks.
Do you use both Slack and Microsoft Teams?
Are you paying for multiple expense tracking tools when one would suffice?
Assess app usage
If an app is only used occasionally or does not contribute to overall efficiency, it may not be necessary
Evaluate costs
Are you paying for high-end features that your firm does not use?
Determine integration compatibility
Some apps do not communicate well with others, leading to data silos and manual workarounds
Use a Tech Stack Audit Worksheet to help visualize this process. You do not need to make changes right away. Just document every app to see where inefficiencies exist.
Step 2: Define Your Core Tech Stack Pillars
A well-standardized tech stack consists of four essential pillars, each addressing a different aspect of workflow efficiency.
1. Pre-Accounting: Document and Expense Management
Tools like Dext and Hubdoc capture and manage financial documents.
Secure document storage solutions, such as Financial Cents, help with organization.
2. Accounting Platform
Choose a primary cloud-based accounting system such as QuickBooks Online or Xero.
3. Accounts Payable and Accounts Receivable
Use a tool like Plooto, Ramp or Wise (there are so many of these!) that handles both AP and AR, reducing the need for separate apps.
4. Practice Management
A system like Financial Cents centralizes workflow, communication, and task management.
Each of these categories should have a designated, high-performing tool that integrates seamlessly with the others.
Step 3: Eliminate Redundancy
Once you have mapped out your current tech stack, the next step is cutting out unnecessary tools. Redundancy leads to higher costs, confusion, and inefficiencies.
What to Eliminate
Apps with duplicate functionality
If two or more tools serve the same purpose, pick the most efficient and widely adopted by your team
Rarely used apps
If an app is not contributing significantly to productivity, kick it to the curb
Standalone tools that lack integration
If an app does not sync with your core systems and requires manual data entry, consider replacing it with one that does
Simplicity is key. Your tech stack should not feel like a puzzle; it should be intuitive, predictable, and built for speed. And, I repeat, the more apps you have hanging about, the more exposure you have to security issues.
Step 4: Ensure Seamless Integration
The success of a standardized tech stack depends on how well the apps communicate with one another. Ideally, the fewer manual processes and workarounds, the better.
How to Improve Integration
Prioritize native integrations
Look for tools that natively connect rather than relying on third-party connectors like Zapier, which can break if an app updates its API
Test real-time data syncing
Ensure that financial data moves seamlessly between platforms without requiring extra steps
Centralize information in one hub
Instead of scattering client data across different tools, consider a practice management system that consolidates tasks, communication, and document storage in one place
Automate routine tasks
Use automation where possible to reduce manual data entry and improve accuracy
Integration is one of the biggest obstacles firms face. If your tools are not talking to each other, you are wasting time transferring information manually. That is where firms lose efficiency fast.
Step 5: Implement and Train Your Team
Standardizing a tech stack is also about ensuring your team understands how to use them effectively. A new workflow is only successful if everyone follows the same system.
Best Practices for Training and Adoption
Create clear, step-by-step instructions on how to use each tool within your standardized system
Provide hands-on training
Walk team members through the software to ensure they understand its features
Establish consistency
Ensure all employees use the same tools for the same functions rather than adopting their preferences
Monitor adoption and adjust
If team members struggle with certain aspects of the workflow, make necessary refinements
Your tech stack is only as good as those using it. If your team is not aligned with your standardized system, you will still experience inefficiencies."
Step 6: Continuously Optimize
Technology is constantly evolving. A standardized tech stack is not a set-it-and-forget-it system. It requires ongoing evaluation and adjustments to maintain peak efficiency.
Ongoing Optimization Strategies
Schedule a tech stack review every six to twelve months
Identify new inefficiencies and adjust accordingly
Stay informed about software updates
Vendors frequently release new features that could improve workflow automation
Evaluate cost-effectiveness
Ensure you are only paying for features that provide actual value to your firm
Keep security in check.
If you discontinue an app, ensure data is properly removed and accounts are securely closed
Standardization Is the Fastest Path to Efficiency
The difference between a firm that struggles with inefficiencies and one that operates at peak performance often comes down to the intentional use of technology. A well-structured, standardized tech stack is more than just a collection of software. It is the engine that powers every aspect of your accounting firm, from managing client relationships to automating tedious administrative tasks.
