If you have a small or medium size company and have wondered: how can I get a talented CTO without paying a ton of money? Or, why must I pay a full-time CTO if I only need them a few hours a week?
The answer is FRACTIONAL CTO.
In this blog, we talk about the Fractional CTO service, who this service is for, and the benefits that can bring to your company to get this service.
Let’s begin defining what a CTO is.
What is a CTO, and what is their role in a company?
CTO stands for Chief Technology Officer. A CTO is a high-level executive who is responsible for overseeing the technology strategy and implementation of a company.
The CTO typically works closely with other executives, such as the CEO and CFO, to ensure that technology aligns with the overall business strategy and objectives.
The role of a CTO can vary depending on the size and nature of the organization, but some common responsibilities may include:
Developing and implementing a technology roadmap that supports the organization's goals and objectives.
Evaluating new technologies and making recommendations on their use.
Managing the organization's IT infrastructure, including hardware, software, and networks.
Ensuring the organization's technology systems are secure and compliant with relevant regulations.
Building and leading a team of technology professionals and ensuring they have the resources and support they need to be successful.
Overall, the CTO plays a critical role in helping an organization stay competitive and achieve its goals through the effective use of technology.
As you can see, the role of the CTO is vital in any company, not just a technology-oriented company, because, as you know, every company right now has a lot to do with technology, either in the way of selling, producing, or managing the enterprise; technology is transversal to all the industries right now.
What is a Fractional CTO?
A fractional CTO (Chief Technology Officer) is a part-time or temporary CTO who gives a business on-demand strategic and technical guidance.
To make sure that technological choices support and complement corporate goals and objectives, fractional CTOs collaborate closely with senior executives, product managers, and development teams.
They also manage the technical facets of product creation, such as infrastructure, security, and software development.
A fractional CTO can assist companies with a range of duties, including assessing new technologies, improving current technology systems, creating and implementing product roadmaps, building and managing technical teams, and offering technical expertise during fundraising or acquisition processes.
Steps to get a Fractional CTO service
1. Get a company that has a lot of experience in technological projects.
2. Have a meeting with the company in order to explain your requirements and calculate, according to your projects, the monthly hours you will need.
3. Once you get the Fractional CTO service, there are periodic meetings where the Fractional CTO explains the evolution of the projects and give specific advice.
4. There are also on-demand meetings. In these meetings, the developers can use the Fractional CTO to unblock any bugs that may have stalled them in the development process.
Who is the Fractional CTO service for?
This service is specially designed for small or medium-sized companies that don’t need a full-time CTO or that don’t have the budget to hire a person with a lot of experience, full-time.
Your company doesn't have to conform with a low-experienced CTO, you can have the best working with you for a few hours a week.
The Benefits of hiring a Fractional CTO
1. You get an experienced CTO for the specific projects and hours you need.
2. You don't have to settle for inexperienced CTOs because of budget issues.
3. Your company's technological processes will be more efficient as you will have an expert by your side every step of the way.
4. With the Fractional CTO service, you don’t have to get a partner for your company just because you do not have the technical background and expertise, this part-time CTO can help you to create a great business idea and to develop it.
Fractional CTO is a great service for any company that needs high technological advice and doesn't have the budget to hire a full-time CTO or that just doesn't need it and wants to avoid a cost overrun.
It is also a good way to avoid getting partners only for technical and technological knowledge. The Fractional CTO will be that ally without the need to divide your company with more people.