Technology & Security

Ask These Questions of Potential Tech Stack Vendors

  • 3 min Read
  • January 10, 2020

Author

Yair Segev
Yair Segev

Yair Segav is the Non-Profit Vertical Lead, CFO Services at Escalon Business Services. A detailed-oriented leader admired for his outstanding skills in financial forecast, planning, analysis, budgeting and cash management, he has been instrumental in navigating a firm’s financial growth. Prior to joining Escalon, he has advised several firms including Nielsen Social, Kemlink USA Inc., Solomon Schechter High School, RSL Liquidating Trust, Citibabes, Maryland Engineering & Dredging Co., and Oceana Advanced Industries Ltd. He holds a bachelor’s in Accounting and Economy from Tel Aviv University.

Table of Contents

If you’re evaluating options for a technology stack, it’s important to know exactly what third-party vendors might be able to offer you, beyond what’s obvious on their sales sheets. If you are planning to work with an outside development partner to build your stack, ask yourself these questions.

1. Does the Company Offer A Trial Period?




The last thing you want is to be locked into a years-long contract with a vendor before realizing that the technology is not what you’d hoped. Ideally, you’ll be able to try out the vendor’s technology before purchasing, or you could have a trial period after implementation where you can get out of a contract within the first few months if you don’t like it.

2. How Long Has the Vendor Been Around?




In a perfect world, you’ll work with a vendor who has proven experience working with businesses like yours. If your vendor is a startup, there’s always a chance it won’t be around long enough to support you as you need upgrades or adjustments to the service, so if it’s a newer business, it’s more important than ever to get references from existing clients.

3. What Kind of Support Can You Expect?




To build on the question posed above, you want your vendor to be around for the long haul, since you may need help along the way. Make sure you have a support period that spans as long as possible, so the vendor is available to handle updates, migrations, bug fixes, new tech integrations and other features that you may need.

4. Where Is the Data and Who Can Access It?




With many modern tech stacks, the data is saved in a cloud-based storage capacity, but that’s information you’ll need to know up front. In addition, find out who will have access to that data. It’s imperative that key staff members at your organization can access the information from your platform on an as-needed basis without having to get the vendor involved to retrieve it for you, so this question is essential.

5. Can You Demonstrate Examples of Flexibility and Scalability?




Because you expect your business to grow, the tech stack vendor should be able to show you exactly how its technology will scale with your startup. The tech must be flexible enough that simple adjustments will allow for swift growth, without slowdowns or crashes in the process. You certainly don’t want to have to buy a new technology stack a year from now because yours couldn’t handle your growth, so find a solution that can grow with you.

6. What Services Are A La Carte?




Some vendors will give you a low price up front, only to reveal later that things like support or troubleshooting are charged on an a la carte basis. Get a list of everything that’s included in the price from day one, in writing, so you don’t face budget surprises later.

7. Which Security Protocols Are in Place?




Even if the technology stack is ironclad when you get it, that doesn’t mean it’s always going to be safe from threats. As new security bugs come out and as your technology evolves, you could open yourself up to becoming a target. Make sure security is a top priority with your vendors so you don’t face any breaches along the way, which could sink your reputation and your standing with customers.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Accounting & Finance

AAP vs. Cash Accounting: Which Method Is Best for Your Growing Business? 

Choosing the right accounting method can significantly impact how you track financial performance, manage taxes, and plan growth. Two common...

Read More
Accounting & Finance

Beyond Bootstrapping: Advanced Cash Flow Management for Scaling Companies 

Bootstrapping—financing growth through internal cash flow—is a hallmark of many successful startups. But as businesses mature past their initial stage,...

Read More
Technology & Security

Building a Scalable Tech Stack: How to Choose the Right Tools for Growth 

In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...

Read More
Accounting & Finance

How to Reduce Month-End Close Time Without Sacrificing Accuracy 

The month-end close can feel like a perpetual scramble—collecting invoices, reconciling accounts, fixing last-minute errors. A drawn-out close not only...

Read More
uncategorized

How to Reduce Overhead Costs Without Impacting Productivity 

Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...

Read More
Accounting & Finance

How to Structure Your Finance Team as Your Business Scales

Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...

Read More
Accounting & Finance

M&A Readiness: How to Prepare Your Financials for a Successful Acquisition or Sale 

Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...

Read More
Accounting & Finance

Optimizing Working Capital: Strategies to Maximize Liquidity Without Raising Funds 

Working capital: The difference between your current assets and your current liabilities. It’s a key barometer of financial health.  While...

Read More
Accounting & Finance

Outsourcing vs. In-House: A Strategic Guide for Growing Companies

Expanding your team and capabilities is critical to sustaining growth—but the question often arises: Should you build an in-house department...

Read More