I’m willing to bet that if you asked someone on the street what kind of technology accounting business’ use, their first guess would be Excel spreadsheets – and for good reason. Excel was one of the go-to business technology examples for many companies in the past.
Then came stand-alone accounting applications loaded onto local computers. This proved to be only a slight upgrade because they required a lot of manual processing and shifting of files to summarise, re-key, reconcile information and generate reports.
Fast forward to today, and it’s all about cloud technology in business — again, for good reason. Cloud-based technologies and business management software support the real-time digital transfer of data across applications via Application Program Interfaces (APIs). This makes it much easier work to build a custom business technology ecosystem to support a company’s unique needs.
At the centre of a company’s tech stack is a powerful accounting solution, such as QuickBooks® Online. QuickBooks Online serves as the hub, offering built-in modules and supporting hundreds of app integrations to cover other key business functions, including payables and receivables, time tracking and time management, online payments, payroll, expense reports and more. This is what a modern tech stack looks like — and what is required to be a modern company.