1. The Evolving Finance Tech Stack

Finance teams have changed dramatically over the years. In the 1990s, Excel and manual processes were the norm. Today, top teams rely on automation, data management, and integrations to reduce manual work and streamline workflows. The key is recognizing inefficiencies and choosing tools that solve them for the long term.

• Start by recognizing the problem:

  “No one wants to repeat the same fire drills over and over again. The key is recognizing the patterns and then implementing tools that help eliminate these inefficiencies long-term.” - Felicia Su, VP Controller at Miro

  
  

• Data and integrations matter:

  “Understanding your company’s data structure is paramount. Then identify relevant integrations for those systems and data. Your BI team and data team should be your best friends. For example, automating revenues and integrating your CRM with your accounting system are critical steps for real-time insights.” – Simone Rueschenberg, CFO at Taktile and author of the CFO Playbook

  
  

• Interconnected systems create efficiency:

  “To truly elevate finance operations, tools need to integrate seamlessly. The most valuable finance teams ensure that their systems are not operating in isolation but are interconnected for better decision-making.” – Billy Morris, CFO at Supermetrics

  
  

2. AI and Automation: Game-Changer or Overhyped?

AI and automation are reshaping finance, but they’re not silver bullets. The challenge is finding the right balance between automation and human oversight.

• Use AI before adding headcount:

  “When I joined Scale AI, my goal was to implement tools that drive efficiency and ensure we’re not just adding heads to address inefficiencies. AI tools can free up time for teams to focus on strategic work.” – Joshua Waldron, VP of Accounting at Scale AI

  
  

• Balance automation and control:

  “The challenge is ensuring that automation reduces manual work without creating more complexity. Choosing the right tools is about balance—eliminating inefficiencies while still maintaining control.” – Billy Morris

  
  

• Finance is more than just numbers:

  “The finance function should be thought of as a continually evolving product. It’s not just about crunching numbers, but ensuring that your finance tech ecosystem enables seamless workflows and strategic insights.” 

  – Graham Baxter, SVP Finance at Volt.

3. Lessons from the Field: Common Mistakes and Future Trends

• Skipping problem analysis: Many teams jump into new tools without fully understanding their pain points. 

  “The approach I’ve always taken is to start by understanding the problems we have. My approach at Uber and other companies is straightforward: we’d list out all of our issues, what takes the most time, and what’s the most material or impactful. From there, we’d identify tools that could address those issues, rather than jumping at every inbound email claiming to solve problems we don’t have.” – Joshua Waldron, VP of Accounting at Scale AI

  
  

• Not validating tools in demos: A great pitch isn’t enough—test whether the tool works for your needs.

  “As you go through the process, have an appropriate RFP (Request for Proposal) and a checklist that ensures the tool addresses the specific pain points you’re solving for. Then, during demos, validate that each issue is addressed before selecting a solution.” – Joshua Waldron

  
  

• Remote work has changed finance operations: Teams are no longer in the same office, making visibility and accountability critical.

  “Remote work has redefined finance operations. When teams are no longer in the same office, so visibility and accountability must be built into the tools we choose. Real-time collaboration isn’t optional anymore - it’s a requirement." – Graham Baxter

  
  

• Managing distributed teams effectively: As finance teams expand across locations and time zones, seamless digital collaboration is more important than ever.

  “We have teams across multiple locations, and the right finance stack ensures smooth collaboration. The ability to work in real-time, track responsibilities, and access financial data anywhere is crucial for scaling efficiently.” – Billy Morris

Conclusion: A Framework for Success

Building a strong finance tech stack isn’t about chasing trends—it’s about solving real problems and enabling your team to succeed. Use this framework to evaluate tools:

✅ Understand your needs: Identify bottlenecks before searching for solutions.
✅ Prioritize integration: Ensure new tools work seamlessly with your existing stack.
✅ Validate before buying: Use RFPs and structured demos to test functionality.
✅ Think long-term: Choose tools that scale with your company’s growth.
✅ Support new ways of working: Ensure tools facilitate seamless collaboration for remote and distributed teams.

By learning from industry leaders and taking a structured approach, finance teams can build a resilient, efficient, and impactful tech stack.