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In today's business world, technology is more important than ever before. Whether you're selling products or services, chances are there's a tech element involved. And that's where a Chief Technical Officer (CTO) comes in. A CTO is responsible for all things technical in an organisation, from developing new products to overseeing the tech budget. But what if your business can't afford a full-time CTO? Or what if you don't have enough work to keep a CTO busy full-time?
That's where a virtual CTO (and We Do Code) comes in.
A virtual CTO is a part-time or contract CTO who provides their expertise on an as-needed basis. But how do you know if your business could benefit from a virtual CTO? Read on to find out.
What is a CTO?
First up, let’s review what we mean by a CTO (or Chief Technology Officer). The long version is that they're a senior executive within a business who's responsible for overseeing the technology department and ensuring that all tech initiatives and projects are completed successfully. They're responsible for developing and implementing IT strategy, as well as managing all technology-related risks. If that wasn't enough, they can also help the business identify and capitalise on new opportunities for growth through the use of technology.
Basically, they provide guidance and advice on all things tech, from digital transformation to choosing the right software and platforms for your business.
Phew! That's a lot.
Sound important? We think so. A good CTO can be a vital to building a sustainable and scalable business that can thrive.
So, what’s a virtual CTO?
The difference between a CTO and a virtual CTO largely comes down to their employment status and how they work with your business.
A CTO is an employee of the company who works in-house. A virtual CTO, on the other hand, is an outside contractor who provides CTO services to the company remotely. The main difference between these two positions is that a virtual CTO doesn’t usually have an office in the company's premises and typically doesn’t have direct access to the company's employees and resources - but this will depend on the exact arrangement and set up.
While a virtual CTO provides the same services as a CTO, they tend to work remotely and it’s normal for them to work for multiple companies at the same time.
Why use a virtual CTO?
Using a virtual CTO can provide multiple benefits, these can include:
Reduced costs: A virtual CTO typically costs less than an in-house CTO would. This can save the company money in terms of salary, benefits, and office space.
Increased flexibility: A virtual CTO can work with companies located anywhere in the world, which gives companies greater flexibility when it comes to choosing a provider.
Greater expertise: A virtual CTO typically has more experience and expertise than an in-house CTO would. This can be beneficial for companies that need help with complex technology projects or initiatives.
Easier hiring: Because there is no need to hire and train employees, hiring a virtual CTO is much easier than hiring a traditional CTO.
It can also be a flexible solution for businesses who don't have the budget for a full-time CTO or who only need occasional support.
If you’re undergoing digital transformation, a virtual CTO can be a great choice as they can provide expert guidance on the best tools and approaches to use.
The disadvantages of using a virtual CTO
There are some potential disadvantages to working with a virtual CTO.
Limited access to resources: Since a virtual CTO does not have an office in the company's premises, he or she may not have direct access to the company's employees or resources. This can make it difficult for a virtual CTO to get things done effectively.
Lack of face-time: A lack of face-time can make it difficult for a virtual CTO to build relationships with employees and stakeholders within the company. This can lead to communication problems and misunderstandings.
A great virtual CTO will know and understand these limitations and work with you to mitigate any problems.
How do you know if a virtual CTO is right for you?
You're Not Quite Ready for a Full-Time CTO
If you're not quite ready to take the plunge and hire a full-time CTO, then a virtual CTO might be the perfect solution. A virtual CTO can help you with all the same things as a full-time CTO, but on a part-time or contract basis. This can be a great way to get started with someone who has the technical expertise you need without making a long-term commitment.
2. You Don't Have Enough Work for a Full-Time CTO
If you already have someone who handles most of the day-to-day tech tasks in your organisation, then you might not need a full-time CTO. In this case, a virtual CTO would be perfect. They can come in and handle the big projects or initiatives that come up from time to time, but don't require someone full-time.
3. You Want Someone with Specific Expertise
When you hire a full-time CTO, they might not have the specific expertise you're looking for. But when you work with a virtual CTO, you can choose someone whose skills and experience perfectly match your needs. Whether you need help with product development or website design, there's sure to be a virtual CTO out there who can help.
A virtual CTO can be a great solution for businesses that need technical expertise but can't afford or justify a full-time employee. If any of the above sounds relevant to your business, then it might be time to give us a call here at We Do Code. We'll connect you with our experienced and knowledgeable virtual CTO who can help take your business to the next level. So what are you waiting for? Contact us today!
