When a startup experiences rapid growth, what is the biggest challenge to IT in keeping up with the speed of business?

As the startup grows the IT team has to bring some process so that it can be manageable. But the old folks may not like this. So handling this transition is the big challenege.  

When the organization is moving at that pace, you have to ask for investments every now and then. For every investment, we need to make sure that every penny counts by identifying ways we can re-utilize the budgets from last year. There could be an obsolete component that we need to upgrade, for instance, which we can optimize and build into an innovative product. And the second challenge, which has worsened during the pandemic, is that iteration in the market has gone out of control. 

Spice Money is a rural FinTech, so we are branded as a financial services institution rather than a tech organization. But we have been able to attract a lot of tech talent because we need people to deliver technology. Tech may not be the leader in the world of FinTech, but it has to take the lead in this case. If we want to double or triple our customer base, we have to make a platform that can sustain five to six times the consumer base. That’s because you receive a lot of concurrent traffic when the government announces subsidies, which becomes a challenge. But we are adopting new technologies and interacting with many partners to figure out how this problem can be solved.