Every six months, we review and update the Finance Tech stack and Finance software recommendations.

The last update we did was back in September 2023 and so we're back.  

There have been a few updates within the recommendations and we have added in which Artificial Intelligence we use and how we use it both specifically for finance but also content and report writing.

This Finance Tech stack is based on start-ups and small scale-ups.  

Most of our clients are pre-Series B businesses and therefore most of them haven't upgraded to an ERP yet.  

The software and tools that we use with clients are relatively inexpensive.  There are loads of software tools out there and some of them, particularly an ERP or Budgeting tools can be really expensive.

Our clients don't have loads of disposable cash when it comes to Finance tools and therefore its worth keeping that in mind.

Process improvement

I'll also reiterate that no finance tool or software is going to improve a broken process.

If there is a task or area within your business that is very manual and causes a lot of headaches, frustration and is always wrong - throwing software at it will not necessarily fix the issue.

I cannot stress enough that you need to review the process first and then implement new software.  Generally software will just automate existing processes and so if the process is still inferior the software will just exacerbate the issues.  

So map out the process first.  This really is non-negotiable if you want a successful implementation.

Links:

1. Try our Quiz!  Financial Leadership Foundations Scorecard.  
2. Join our next Workshop on the FLF Framework.
3. Work with me in the Financial Leadership Foundations course  that includes monthly Q&A sessions where we can discuss all of your questions and how to apply your learnings to your current role. 
4. Work with me as a Founder needing guidance and support from experienced Finance leaders. Take a look at our guide on Outsourced bookkeeping.