How to Evaluate Your Tech Stack

Matthew Weir, CTO

4 Min Read

Technology plays a fundamental part in the success of any organization. However, as digitalization increases rapidly, it's important to regularly evaluate your tech stack to ensure it aligns with your business goals and keeps your data secure.

What is a Tech Stack?

A tech stack is the tools and programs used to facilitate day-to-day operations. This could include productivity software like Microsoft Office, a customer relationship management (CRM) system for managing customer data and interactions, accounting software like QuickBooks for managing finances, and a cybersecurity program for protecting sensitive information.

It is an essential component of any modern organization's IT infrastructure, and it can significantly impact its ability to operate efficiently, develop new products, and provide excellent customer service.

Why You Need to Evaluate Your Tech Stack?

The global annual cost of cybercrime is expected to exceed $8 trillion in 2023. Assessing the security of your tech stack is one of the best proactive measures you can take to prevent cybercrime. Outdated, unused, and unsecured applications provide hackers with opportunities to penetrate your network.

In addition to the increasing threat of cyber-attacks, a regular audit of your infrastructure ensures you are utilizing the right platforms to meet goals and aren’t wasting money.  

Ready to dive into your tech stack audit? In the next sections, we're going to walk you through how to evaluate your tech stack. Whether you're a small business owner or a tech expert, you'll find valuable insights and tips to take your tech stack to the next level.

Identify Your Business Goals

Aligning your technology with business goals is the top priority when evaluating your tech stack. As a result, you need to understand your company's objectives, mission, and vision.

Ask yourself questions about your business, such as what it does, its products or services, and its growth strategy. Evaluating your tech stack based on these goals can help you determine which tools are essential and which are not, ensuring that your technology aligns with your objectives.

For example, if you are providing telehealth services with the goal of offering seamless video consultations, your live streaming platform is an essential part of your stack and needs to be reliable and secure.  

Ensure You Have Room to Grow

Are you ready to take your business to the next level? Then it's time to evaluate your technology platforms! But hold on, don't just settle for a system that barely gets the job done. You need a platform that can scale and integrate seamlessly with other technologies.

Here are some questions to consider when evaluating your technology for growth:

  • Scalability – Can my network accommodate 10% growth? 20%? 50%?
  • Integration – Will our stack integrate if we need additional tech to meet future goals?
  • Compatibility – Are the technologies I'm using compatible with the tools I'll need in the future?
  • Support – Do I have access and the capacity to handle issues once we scale?

Balance Innovation with Stability

The balance between utilizing innovative technologies and keeping your business stable is essential. Identify areas for improvement and adopt new tools to streamline workflows or improve scalability. Look for opportunities to introduce innovation by complementing your existing systems and processes rather than disrupting them.

To achieve this balance, start by identifying the areas of your tech stack that can benefit from innovation. Look for opportunities to introduce innovation by complimenting your existing systems and processes rather than disrupting them.

Conduct a Risk Assessment

It's time for a risk assessment! By identifying potential threats and vulnerabilities, you can prevent issues before they arise. Here are the steps you need to follow for a successful risk assessment. Here are the steps you can follow to conduct a risk assessment:

1.    Identify assets to protect: Data, hardware, software, and network infrastructure. List them and assign value.

2.    Identify vulnerabilities: Software bugs, configuration errors, or outdated technology. Categorize them by severity.

3.    Assess risk: Evaluate the likelihood and impact of each threat and vulnerability. This assessment will help you prioritize the risks and allocate resources.

4.    Mitigate risks: Create a risk mitigation plan that outlines steps to reduce risks. Examples include implementing security controls, updating software/hardware, employee training, or incident response planning.

5.    Monitor and review: Stay ahead of the game by continuously monitoring and reviewing your security and performance. This ensures that your risk mitigation plan is effective.

To keep up with emerging threats and vulnerabilities, make it a habit to update your risk assessment and mitigation plan regularly.

Consider the Total Cost of Ownership

Don't forget the final step in evaluating your tech stack - considering the total cost of ownership (TCO). TCO takes into account all costs associated with owning and maintaining a technology solution throughout its entire lifecycle. This includes expenses for acquisition, deployment, operation, and maintenance. Make sure you factor in TCO to get a complete picture of your tech stack's value.

When evaluating the TCO of your technology platforms, you should consider the following costs:

  • Acquisition – Includes the initial cost of purchasing hardware, software, and licensing fees.
  • Deployment - Costs associated with deploying the technology solution, such as installation, configuration, and training.
  • Operational – Maintenance, updates, and support in relation to the platform.
  • Downtime – All costs associated with downtime due to the specific tech solution, including lost revenue, decreased productivity, and reputational damage.
  • Security – Implementing and maintaining cybersecurity measures to protect against threats.

Ensure Your Infrastructure is Secure with a Managed Service Provider

Evaluating your tech stack is a labor-intensive process that needs to be done regularly, especially if you want to continue innovating, growing, and setting new goals. At DKBinnovative, we take the headache out of reviewing technology platforms to ensure they are secure.

Our team of experienced cybersecurity professionals has the expertise and knowledge to assess your tech stack, helping your organization increase productivity, reduce cybercrimes, and save money. Please reach out to us today to learn how we can align your IT strategy with your business goals!

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