Why should you care about your technology stack? Wait – what IS a technology stack? It’s actually pretty simple. A tech stack is a group of multiple technology applications that today’s businesses use to manage their core functions. Decades ago, it was an actual stack of hardware in the IT department. Now, like most technology, it’s virtual and resides in the cloud.
Here’s why you should care. A well-integrated technology stack helps streamline routine business tasks and also greatly increases the ability to use information to improve planning. The “stack” is powered by the multi-cloud world. This means multiple business applications and services in the cloud effortlessly interact in a way that best serves the individual users. With the universal growth of platforms powering business functions, the importance of a technology stack is being recognized in all industries, old and new, small and large.
Within this context, construction and development practitioners are adopting cloud platforms and applications that facilitate project management, property management, estimating, budgeting and valuation, AP processing, and document and approval management. In turn, the construction and development technology stack is taking shape, incorporating a variety of tools to increase efficiency and accuracy, improve focus on value-add opportunities, and enhance the ability to make confident decisions.