Virtual CTOs – How Can They Benefit My Business?
As businesses continue to modernise and innovate new modes of working, virtual roles are becoming increasingly popular. Virtual Chief Technology Officers (CTOs) are becoming a vital part of C-Suite teams across the board. The talents of Virtual CTOs are being utilised instead of full-time CTOs as they provide cutting-edge tech strategy, without the cost of a permanent executive-level employee.
Whether you’re wavering over employing the skills of a Virtual CTO or haven’t previously heard of the position – we urge you to read on in order to understand the role of a Virtual CTO, and how they can benefit your business!
What Is A Virtual CTO?
In short, a Virtual CTO remotely takes on the role of a traditional CTO – determining the technical direction of a company. They are responsible for strategizing a business’ tech trajectory, making the bridge between business and IT.
A Virtual CTO provides an executive-level service; utilising their extensive tech knowledge and experience to ensure your company is gaining as much value as possible from its tech investments. Specifically, Virtual CTOs can provide guidance in:
- Consulting: providing an expert opinion on your company’s overall tech standing.
- Strategy: providing a roadmap for the future, to ensure you know your tech trajectory.
- Infrastructure: investigating the ways you can optimise your business tech infrastructure – whether that be physical or virtual.
- Security: ensuring cyber best practice is followed around IT security and data management.
- Investment: reducing unnecessary costs, ensuring best value spending, strategizing for long-term growth.
Many companies can be held back by inadequate tech understanding and strategy, and Virtual CTOs can have a significant impact on business development. Virtual CTOs will have a proven track record in driving tech innovation throughout the course of their career, being able to provide a wealth of experience to partnered businesses.
How Does This Benefit My Business?
As highlighted, employing the services of a Virtual CTO can bring numerous benefits to businesses. Whilst the primary benefit is the gained expertise and experience of an executive tech expert – there are also a wealth of financial and practical gains.
A Virtual CTO is often able to provide on-site and remote help, cutting the costs of a full-time on-site team. Ordinarily, a full-time CTO will earn approximately £100,000 – £230,000 per year, a significant sum for a role that can be conducted by an external partner for much less. Often Virtual CTOs will work an agreed number of hours per month, meaning there are no hidden costs to your IT partnership. Whatsmore, if your Virtual CTO is part of an MSP such as Fitzrovia IT, this means they bring the experience of a full team comprised of dedicated tech experts.
Virtual CTOs can be incredibly flexible in the services they provide your enterprise – and can quickly shift focus to accommodate the needs of your business. Upon request, they could move from overall strategy development to software implementation to participating in board meetings as required. The flexibility they provide allows your company more room to grow, letting the Virtual CTO focus on tech development while you focus on business.
Partnering With A Virtual CTO
As we see an increasingly hybrid workplace, businesses need to adapt their working model to enhance flexibility. Whilst some roles remain best suited to the office, others are just as successfully carried out from afar, with the Virtual CTO role being an excellent example. The partnership between a business and a Virtual CTO allows for all-round greater flexibility, innovation, and financial awareness.
If you feel a Virtual CTO will benefit your business’ tech strategy, then contact one of our team today to find out more about Fitzrovia IT’s Virtual CTO service.