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Five Steps to Help Recession-Proof Your Finance Technology Stack
August 18, 2023
As your Software as a Service (SaaS) startup grows, it can be tempting to handle increasingly complex finances by creating more spreadsheets and employing more people. This only leads to your SaaS business being overwhelmed and struggling to catch up, especially during economic storms.
Proactive measures can help recession-proof your business. Building a strong financial technology stack allows you to move beyond basic accounting and outdated systems to a cloud-based platform that provides robust data insights and analytics that drive the growth of your business, even during challenging economic times.
Setting up a financial technology stack is easier and more cost-effective than you might think. In this video, we explore how to get started on building a tech stack. Our panel of experts discusses typical challenges that SaaS-based companies face and how to prioritize these challenges. The panelists discuss the multiple steps to address issues, which include examining the process maturity lifecycle, developing a tech stack checklist, analyzing billing use cases, addressing integrations and examining reporting and forecasting.