Setting up the right finance tech stack is a pivotal step in accelerating a company’s growth. Having the right systems in place can give you the visibility and control you need to keep your finances in check and ensure the efficiency of your finance function. When choosing your tools, it’s important to wear a strategic hat and prioritize modern options that enable automation, reduce manual processes, and produce actionable data in real time. Here’s how to build a finance tech stack that scales with you.
Step 1: Identify Your Needs Before Choosing Tools
Map out your end-to-end finance processes to ensure your stack matches the reality of your operations. Identify your core process, whether that’s AR/AP, payroll, or reconciliations, and evaluate the volume and complexity of the work. That way, you don’t buy tools that are too simple – or too complex – for your stage. Ask questions like: What does my team handle daily? What creates the most bottlenecks in our workflows? In which key tasks is accuracy most critical? According to a report by CFO Connect, many CFOs identify spend management, system audits and upgrades, and reporting as their top priorities when choosing tools to build their finance infrastructure.
Step 2: Build the Core Finance Tech Stack
Your core finance tech stack serves as the engine of your finance function, so it should be stable, integrated, and scalable. Start with your general ledger; most companies use tried-and-tested options like QuickBooks, Xero, and NetSuite. Then, layer in tools for other key functions, and add FP&A and dashboarding tools when you need them. It’s good to leverage resources like The SaaS CFO’s Finance & Ops Tech Stack Survey to see how different tools compare, and what’s generally recommended for companies at different stages and with diverse goals.
Step 3: Prioritize Integration and Automation
Remember not just to look at the features that your finance tech stack can offer. Your systems should be able to integrate smoothly and handle scaling processes without needing a painful transfer later.
Data should be able to move seamlessly across tools, reducing the need for reconciliations and manual entry, and minimizing errors. Prioritize platforms with open APIs and support various plug-ins; look for ones that can connect your banking data, invoicing systems, and reporting tools.
At the same time, consider options with built-in automation capabilities; those that are able to handle recurring tasks. This lets you give back time to your team, who would otherwise be handling all this tedious work, and allows them to focus more on analysis and strategy.
Step 4: Design for Scalability
High-growth companies often outgrow their systems in months and so require a finance tech stack that can expand with new entities, higher transaction volumes, new revenue models, and even global operations. Think ahead: what will you need at 10x your current size? Build around that projection, choosing tools with multi-entity support, strong audit trails, and configurable workflows.
Step 5: Set Up Controls
Even the best finance tech stack fails if governance is weak. Once you have your tools set up, define clear standards for access, approvals, and documentation. Assign owners for each system and build processes that ensure consistency and accountability, especially as your team – and the work that you do – grows. This isn’t a one-and-done task; you must regularly review your tools, subscriptions, and workflows to ensure that platforms aren’t redundant, licenses are optimized, and your finance infrastructure is accurate, transparent, and efficient.
Building a Scalable Finance Tech Stack with MAVI
As today’s companies lean on automation and distributed teams, a well-designed and intentionally-built finance tech stack becomes the backbone of collaboration and decision-making. The right tools ggiveyour operation a competitive advantage, and afford finance leaders the leverage to skyrocket progress in the most efficient way possible.
MAVI’s commitment to matching high-growth teams with deeply vetted, US-caliber global finance and accounting talent is rooted in a mission to help finance functions set up for immense scale. We embed highly-skilled accountants who don’t just work directly within your existing finance tech stack, but can help you build better ones. Their years of experience and deep expertise allow them to evaluate your tech gaps, implement automation, and standardize workflows across your organization. With MAVI Talent, you can gain clarity around what works, what doesn’t, and what will scale smoothly as your business leaps forward.
Frequently Asked Questions
What is a finance tech stack?
A finance tech stack is the collection of software, systems, and tools used to manage accounting, reporting, automation, and financial operations within a company.
What tools should a finance team have?
At the very least, finance teams should have a general ledger (think QuickBooks, Xero, and NetSuite). Then, depending on their industry and needs, their finance tech stack may include AP/AR tools, payroll, and expense management tools, and a reporting or FP&A platform.
How do I choose the right accounting software?
Choose accounting software based on your company’s size, complexity, and growth trajectory. Every firm is different, and it’s important that you look into your unique needs to understand what your team needs to operate and scale effectively.
Why is integration important in a finance tech stack?
High-growth companies deal with multiple entities, and it’s important to work on a platform that enables integration so that data flows smoothly between systems. This reduces manual entry and prevents errors, enabling faster and more accurate reporting.
How does MAVI help with finance tech stack setup?
MAVI supports companies by embedding trained accountants who work within your tools while helping you evaluate, implement, and manage scalable finance systems. This accelerates setup and improves operational reliability.