O ne of the main things we can say about tech companies is that they understand technology. They see the benefits of cloud-based systems, understand APIs and appreciate a good User Interface. This leads them to base their operations and finance on modern cloud technology. But the saying goes that “The cobbler always wears the worst shoes” and although that may be an exaggeration for the technology sector, it does highlight an issue in that those in the tech sector tend to avoid seeking advice and guidance for their own systems. The world of integrated API-driven systems is still new and is growing at an incredible rate. Those systems that have the widest and deepest integrations tend to benefit over those that have none. This has led to the drive-in development of pre-built integrations and with it an incredibly complex ecosystem of potential systems you can link together in a plug-and-play style. Systems grow by finding a niche, then expand into other areas, with some getting purchased and absorbed or even shelved. It is a minefield in selecting the right software and even more challenging linking them together to maximise the efficiencies and business insights that can be achieved.
Why tech companies need help with financial systems
Technology companies are great at selecting systems that enhance their operations, be that automating invoicing and payments, managing staff expenses or even utilising a modern cash flow forecasting tool. But generally all decisions are made either in silo or from the operation system as the core. With virtually all systems having a direct or indirect link to the finance ledger, starting with operations in mind is counter-intuitive to maximising your system structure. Selecting the right finance system is key and working back from there to build out an integrated operational and management system structure will provide greater benefits than the alternative approach. So why seek an external consultant? Well you don’t know what you don’t know, and with such a vast array of options it is impossible to keep on top of the fast changing landscape of integrated cloud systems. Partnering with a specialist in this field enables you to build your systems from the ground up that automate where possible, plug in new systems as you need them, generate the insights you need and allow for the hockey-stick like growth that you hope to achieve. The SB Digital team has been created to be this partner to businesses. To advise on their systems and support as the landscape changes.
Ryan Pearcy SB Digital Director
1 0 | SCRUTTON BLAND | TECH BUSINESS
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