Keeping up with the digital demands of modern business is essential to standing out in your market. Many companies have an on-board Chief Technology Officer (CTO) to support their technical strategies and new digital implementations. However, for many businesses, having a full-time dedicated employee to this role can be expensive, especially since it is not always necessary. A virtual CTO (vCTO) is a fantastic alternative for people who need support with their tech but not across their operations.
This blog outlines what a vCTO is and how they would benefit your business.
What is a vCTO?
A vCTO is an expert in strategic technology, usually provided by an external business IT services provider, who will guide technological operations to ensure your IT is functioning efficiently and effectively, supporting your overall company goals.
A vCTO ensures your company is up to date and protected from security risks. They will also implement strategies to stand out from the competition.
VCTO’s services tend to include:
- Tackle technology budget
- Undertake technology audits to assess and address any IT needs
- Develop IT strategies
- Figure out a tailored business security strategy
- Develop and manage Key Performance Indicators (KPIs) for your IT department
- Monitor issues and risks in team mistakes or malperformance
- Help guide and train internal team members to support business IT needs
Cost-effective access to an expert
Replacing a full-time CTO with a vCTO, or simply choosing this option if you’re a new or smaller business owner, is a cost-effective decision. A vCTO will offer the same level of expertise and may be able to implement more strategy in a shorter timeframe, saving a significant amount of the company’s budget.
Better overall company performance
Once effective and reliable strategies are implemented, the entire team will benefit from smoother operations. All staff will benefit from more secure, fully functioning tech, ensuring they work efficiently and avoid avoidable technological issues.
A vCTO also makes sure that any new strategies align with the company’s aims and objectives. For example, if your company is focused on improving customer service, the vCTO will create a clear communication method using your tech.
The security benefits
As mentioned, a vCTO will be trained in technology security, which benefits not just the team but also prevents potential operational failures and high costs. A UK government survey found that 50% of businesses have experienced cyber breaches or cybersecurity attacks in the past year. Whether the vCTO supports you in preventing security threats, identifying system vulnerabilities, or leading disaster recovery, having a vCTO to hand is an incredibly reassuring aspect of a business.
Better team communication
If everyone on the team is made aware of technological strategies, the entire team can support the company’s efforts toward growth. An outsourced expert can mentor your team on in-office work as needed, providing support without hiring a dedicated person.
Support business scalability
Having access to expert advice helps your company stay ready for any changes within your company or the technological industry. By tracking KPIs, a vCTO can monitor business growth and determine what does and doesn’t work. The vCTO will create scalable, flexible strategies, as you want the technology to grow with your company and support more customers, clients, or employees.
Get a vCTO
Engaging with a vCTO service will ensure you have access to technological expertise to help you grow your company and build your team without breaking the bank.
Look for an IT services provider who can showcase case studies that demonstrate their previous success or positive client experiences. If you have more questions about their specific costs of strategies, contact them. This will give you an idea of their customer/client support and answer any of your queries, hopefully guiding you to make the right decision.
