This may sound like a bold statement, but: the backbone of business success lies in a well-constructed tech stack.
Let us explain.
A well-rounded tech stack can offer insights that can dramatically improve efficiency and provide insights that help drive decisions for your business’s growth. The apps in your tech stack will ideally minimize the amount of work you’re required to do while providing more insight into your financial position. All of which, when leveraged correctly, have the ability to impact your bottom line.
In this article, we’ll dive deeper into the importance of selecting the right tech stack apps and provide some of our, Momentum.tax, favorite suggestions for any business building out its tech stack.
Selecting the Right Tech Stack Apps is Essential
Having the right apps in a tech stack creates a leg-up for business owners in today’s digital landscape. Below are two of the most impactful benefits of a well-crafted business tech stack.
One of the biggest benefits is the right apps enhance operational efficiency. They do this by streamlining various aspects of business processes, from customer relationship management to financial accounting. This makes it easier for the business owner to manage and automate tasks. With an increase in efficiency, you’ll save time and reduce the potential for human error.
By selecting apps that work well together within the tech stack, business owners will notice a more cohesive workflow and better data flow, opening the door for employees to focus on strategic tasks rather than mundane administrative work.
Improved Insights and Decision-Making Support
The right business apps offer analytics and reporting tools that help business owners make informed decisions based on real-time data.
These insights are instrumental for understanding:
- Customer behavior
- Market trends
- The overall health of the business
These data-driven insights allow business owners to quickly analyze their financial position and pivot in response to fast-changing market conditions.
In short, the right tech stack can be a game-changer that improves operational efficiency and delivers the insights needed for sustainable growth and success.
Our Business App Recommendations and Why We Love Them
At Momentum.tax, we have four core business apps we suggest our clients add to their tech stack. These apps offer solutions for:
- Accounting software
- Bill paying
- Receipt tracking
- Payroll management
1. QuickBooks Online
Quickbooks Online is the only accounting software Momentum.tax works with.
One of our favorite parts about it is that it is a cloud app. Cloud apps allow you to update and access information wherever you’re at. This means business owners can access reports on their laptops, phones, etc, whether they’re sitting in the office or on a beach somewhere in paradise.
With QuickBooks Online, financial information is easily accessible and reported from wherever you are!
Bill.com is an app for paying bills. Vendors can send their invoices directly to the Bill.com email upload address, then business owners can pay bills via check or e-payment directly through Bill.com.
We love this app because it helps to maintain a clear record of all accounts payable activity.
Dext is a receipt-tracking app with a ton of capabilities. Not only does it send receipts directly to match the transaction in Quickbooks, but it can also forward unpaid invoices straight to Bill.com for payment. (Notice how all of the apps mentioned thus far integrate with each other? That’s tech stack gold.)
With Dext, you can also:
- Set rules to auto-publish recurring expenses
- Attach customers and mark expenses as billable
- Ese 3 awesome upload methods (the mobile app, the desktop site, and the email-in method).
None of the uploaded images are stored on the devices used for uploading, all items are stored in Dext, which can also be accessed from anywhere.
Running payroll and handling payroll taxes can be quite a task! Luckily, we found Gusto, which makes running payroll a million times easier.
Gusto handles debiting the wages and taxes and paying out to employees and tax agencies. Gusto can even be set up to run payroll automatically for salary payrolls. They have many options for pay schedules and handle the creation of 1099 and W-2 forms at year-end.
This app does a great job of simplifying and streamlining all things payroll.
Build Your Tech Stack with the Best Business Apps
To recap, the right blend of apps can revolutionize the way your business operates, offering efficiency gains, data-driven insights, and a competitive edge that keeps you atop an ever-changing market.
By leveraging our recommended apps and incorporating them into a tech stack for your business, you’re setting yourself up for long-term success.
If you have questions about building out a tech stack or are searching for other business app recommendations, reach out to our team at Momentum.tax! We’d love to point you in the right direction!