Is your accounting Full stack vs JUST AN App stack?

Being an accountant or finance executive in this era is both thrilling and demanding.

Just a few years ago, you had to rely on a limited number of accounting and finance solutions, often resorting to clunky spreadsheets and manual processes to fill the gaps. Today, you are spoiled for choice with a plethora of apps catering to the needs of the accounting and CFO community.

Certainly, the challenges of this technological renaissance are hard to ignore. Managing a suite of apps—each of which must be carefully selected, learned, and kept up-to-date—can be daunting. Despite many apps promising to serve as a "single source of truth," the result often is data fragmentation and inconsistent automation. It's no surprise that this can quickly lead to feelings of overwhelm and frustration.

Towards "full-stack"

It brings to mind the evolution of software developers with the rise of e-commerce and SaaS industries. Programming languages proliferated, cloud infrastructure options emerged, and various off-the-shelf solutions were created to address specific challenges. Today, developers often specialize in particular domains, focusing on either front-end or back-end development, or they become "full-stack" experts, proficient in both areas.

I believe the same will occur with accountants who assist their clients in adopting the technology: the best accountants will master the "full stack" that aligns most effectively with their clients' needs. This "full stack" will vary significantly based on the size and industries of the target clients but will operate cohesively, utilizing robust integrations or increasingly vertically integrated solutions. For instance, an accountant catering to smaller, local businesses in the hospitality sector will select a tech stack vastly different from one serving mid-market businesses with international ambitions.

At HedgeFlows, we're developing a crucial component for international businesses by integrating AP/AR automation and reconciliations with cash and risk management, as well as cash flow forecasting. More importantly, our goal is to extend access to more financial services for SMEs and mid-market businesses that banks and software vendors have overlooked.

So, if you are an accountant who wants to empower your international clients with robust finance and accounting processes, let's chat, and hopefully, you come join our movement.