Growth

Technology is always changing, and today it’s changing faster than ever. On top of the speed of change, it seems that new innovations are becoming more disruptive and more confusing than in the past. That speed can be anxiety-inducing, and with heightened anxiety comes decreased decision-making ability.

With all kinds of new software and tech products coming thick and fast, you need a framework for separating the ones that will work for you from the ones that don’t. A technology roadmap provides exactly that, giving you the bird’s eye view of your business that you need to take control and make sense of it all.

Planning Your Growth Road Trip

We’ve talked about the importance of the strategic roadmap before over on the StrategyWerx blog. You don’t want to take a road trip without first consulting a map. Maybe you’ve taken this trip before and you know the route by heart, but you still need to plan. You don’t know exactly how thistrip is going to go. You don’t know how traffic patterns might have changed, if there is construction on the route, if a bridge or ferry is out of service, or if a new highway offering a quicker route has been built since you last made the trip.

A map also helps you consider the “best way” to get to your destination given the purpose of your trip. There is no “best way” in business strategy or in road trips, only the way that helps you achieve your goals. If it’s autumn and you want to see all of the pretty colors, then the best way is the most scenic route, even if it’s not the fastest. If you’re on a tight budget, the best way is the one that avoids the $15 turnpike and the $12 bridge toll. It’s all about knowing what you’re trying to achieve so you can make the decisions that are best for you, today and in the future.

Intentional Choices Informed by Strategy

A technology roadmap serves the same purpose. When you have a decision to make regarding the types of technology to integrate into your operations, it won’t help to simply seek out “the best,” because what’s best for a corporation with 20,000 employees and what’s best for a ten-person agency are two different things. Consider also your industry. What’s best for a city government, for instance, is not what’s best for a manufacturing enterprise, a lesson the city of Birmingham, UK, learned the hard way after a financially devastating failed ERP implementation, which we wrote about here. When you develop a technology roadmap, you’ll be able to put your business’s needs and goals first. You’ll better understand your business and your goals, and you’ll get a much clearer sense of the tech that will and won’t work for you.

Roadmaps aren’t just about where you are now, but where you want to be and how long you plan to take to get there. Your roadmap will also get you thinking about how a piece of technology will serve you in the future, whatever your growth goals. “The future” is a different thing for a company that plans to grow quickly and bring on dozens of new employees in the next year and for a company looking for slower, steadier organic growth.

For example, the spreadsheet you calculate budgets on might work for you today, but will it work for the accountant or CFO you eventually hire? You’ll need accounting software that can handle the intricacies of your business and can be easily shared among and edited by your team. And while you might be able to manually send out promotion emails to your mailing list today, is that method going to be scalable when you’re delivering personalized emails to segmented lists of thousands of customers? When you choose a new CRM to help automate those email tasks, how are you going to get employees to buy in and learn the software? How long will it take, and what resources can you devote to training?

A tech roadmap gives you clarity on these and other questions, giving you greater control over the technological aspects of your business’s growth. This is especially important in uncertain times. You’ll be better equipped to ask the right questions and choose technologies that can help you today, grow with you tomorrow, and keep you running smoothly over any potholes you might not have seen coming.

Find the Tech That’s Right for You

At ProsperWerx, we’re technology agnostic. That means we’re not here to get you to adopt a particular piece of software. We’re here to help you work through these strategic questions so you can see the big picture and help you find the technology that’s right for your business, both where you are now and where you want to be.

Most companies rely on technology to help them operate effectively. Businesses need to run like a well-tuned engine, with every part functioning in sync to reach its full potential. And it's possible! If you have the right collection of software and hardware tools, you can do more than just improve your operations; you can set the stage for significant growth. Let's take a look at the key benefits of streamlining your tech stack in this article.

Benefits of a Streamlined Tech Stack

A streamlined tech stack will increase your efficiency. When your tools work together properly, there's less wasted time, fewer errors, and a more effective workflow. A well-put-together tech stack is like having another member on your team that can assist you with data assembly, administrative support, triggering communications… etc.

Your tech stack should be scalable as your business grows, and designed to accommodate increased demand. A well-structured tech stack can handle a lot without breaking a sweat. This will leave you time to make sure that your operations remain efficient and effective.

When your tech stack is effectively streamlined, it turns all the data your business generates into insights. This consolidated data enables you to track key performance indicators, identify emerging trends, and make informed decisions to drive growth. But the true magic lies in predictive analytics. Through the use of statistical models and historical data, you can predict demand, detect potential risks, and make informed decisions that boost business growth. When you connect sales data with details about inventory levels, supplier performance, and other relevant factors, you get a holistic view of our business. By adding a bit of machine learning and AI to your stack, you can use your data to forecast, helping you predict future customer behavior, market shifts, and potential risks. With this kind of foresight you can be proactive about optimizing operations, identifying opportunities, and anticipating problems. These insights become much more helpful with a simplified tech stack. You will improve your ability to forecast future demand, modify your buying plans, and cut expenses, reduce shortages, and raise customer happiness - all as a result of building your tech stack effectively.

Streamlining your tech stack can also reduce your costs. By eliminating unnecessary tools and optimizing existing ones, you can save money on software licenses, hardware, and the maintenance for them. A well-integrated tech stack is essential for modern businesses to operate efficiently and grow effectively. Integrations, such as APIs and webhooks, play an important role in connecting different software systems and enabling seamless data flow. 

APIs
APIs act as bridges between different applications. They're like translators, helping apps understand and talk to each other. APIs make it easier for businesses to connect different systems like websites, databases, and apps. It also handles automating tasks like updating inventory or sending emails.

Webhooks
Think of webhooks as a way for apps to send each other instant messages. When something happens in one app, it can send an alert to another app. For example, when a customer buys a product on an online store, the store can send a webhook to its warehouse. The warehouse receives the webhook and knows to ship the order right away. Webhooks help apps communicate and react to events quickly, making things more efficient.

Finally, when your tools are well integrated, it is easier to implement security measures that will protect your sensitive data and prevent cyber threats from causing havoc on your business.

Examples of Tech Stacks for Growth

Let's look at some examples of how businesses are using streamlined tech stacks to drive their growth. 

1. Retail: A retailer with a point-of-sale (POS) system might add a 3rd party testimonial system to request a review after each sale, or integrate the POS with a Smart CRM system to trigger a variety of communications based on customer purchase, wish list, or customer service behaviors.  
2. Manufacturing: A manufacturing company with an ERP system may decide to integrate a CAD/CAM system to support product development, an MES to provide greater production control than the ERP can do natively, and an SCM to provide deeper supply chain controls than most ERPs do out-of-the-box.
3. Healthcare: A healthcare provider with an older patient management system may defer upgrading that system by adding on a 3rd party telemedicine software. They may also add a marketing automation and testimonial/endorsement system to improve customer communications and content-sharing.

Here are some best practices to follow when streamlining your tech stack

Begin streamlining your tech stack by assessing your business needs and identifying the essential tools you use or need. We strongly recommend mapping your processes to gain the greatest clarity about what systems you need and how to use them (here’s a link to a video we produced on process mappingto walk you through it). Give top priority to fully integrated tools in order to prevent data disparities and increase workflow effectiveness. Invest in good onboarding and training to ensure your team can get the most out of their tools. 

Something we always emphasize to our clients is the importance of thoroughly vetting software vendors. Cutting-edge features won’t mean much if the company behind them lacks the financial stability or technological vision to support your business in the long run. Make sure your tools are not only current, but also built with integration in mind. Prioritize solutions that offer robust APIs, webhooks, or compatibility with platforms like Zapier or Piesync. This is the kind of flexibility that will safeguard your tech stack against obsolescence, and helps you to adapt swiftly as your business — and the market and technology! — evolve.

In our fast-paced business world, a streamlined tech stack isn't just an advantage—it's a necessity. When your tools work in harmony, the added efficiency will be like music to your ears. Wasted time fades away, errors become rare, and productivity soars. Your team can focus on what matters most: delivering exceptional work and delighting clients.

But the benefits go even deeper. A well-integrated tech stack becomes a window into the heart of your operations. It reveals hidden patterns, highlights areas for improvement, and helps you make better decisions. Of course, all this adds up to growth! A streamlined tech stack is more than just a collection of tools - it's the foundation for a thriving, agile, and future-ready enterprise.