Leverage Technological Innovation With CTO-on-Hire

Digital technologies change rapidly. In this journey, strong technical support is crucial as only it can take the founder’s vision to a minimum viable product that can be launched into the market. Having an experienced technical leader like a CTO is not an easy job.

Many times, you reach a standstill in your projects or for your clients. You may also not require a full-time CTO but may have requirements only for a certain time period. In all these cases and more, a virtual CTO is someone who can help you.

In this blog, we are going to talk about how the new-age services of having people at a service, like virtual CTO, are impacting the way technical expertise is taken.

What Is CTO-As-A-Service

Before we jump towards understanding why certain companies, including GKM IT, provide CTO-as-a-service, let’s first understand who is a CTO. A chief technology officer is a tech specialist with a thorough knowledge of the tech world and can provide technical assistance to any business.

A firm can either have an in-house CTO or can hire a virtual CTOs based on their specific requirements. While doing this externally, they are hiring a virtual CTO-as-a-service (CTOaaS).

CTOaaS is like hiring a specialized talent (overall tech or a niche expert) for a specified time period on a contractual basis for your work. This service is gaining popularity, especially as not all businesses require a dedicated CTO in-house at all times.

As per research by STXnext, a person requires a minimum of 5+ years to reach the space of being a CTO. Around 45% of people said that it takes more than ten years of specialized experience.

CTO: InHouse V/s Outsourced

Now that you know how a Chief Technical Officer is a lifesaver for all things IT, it is crucial to decide whether you should opt for an outsourced CTO or an in-house one. Both have their advantages and disadvantages, so it is important to weigh them carefully before making a decision.

Inhouse CTO

As a CEO focuses on business parts, an in-house CTO focuses on all technical aspects, including team management, compliance, integrations, adoption, deployment, etc. Having a full-time CTO is a good choice for companies that have technology at the core of their business. Imagine having an AI-based company and not having an internal CTO. Who will handle all day-to-day functions? How will you create a team?v

Pros of in-house CTO

• They are available for all daily tasks.
• They are available at all times like any other full-time person.
• They understand your business requirements as they work closely with your business.
• They help your business build technical capabilities.
• They help you in utilizing the IT resources.
• A full-time CTO can help you in resolving your technical issues faster
• Cons of an In-house CTO

The costs of recruiting a full-time CTO are higher when compared to an external CTO.
An in-house CTO may have a narrower skill set related to only their roles.
Maintaining a full-time CTO can be inefficient with fluctuating project demands.
Finding the right CTO is time-consuming and challenging, often requiring an extensive search.

Virtual CTO

Virtual CTOs are very helpful in the time when you require technical guidance for some specifics. It can be a project, a timeline, a niche, etc. The concept of an external CTO is gaining name as these CTOs provide all the benefits of having a CTO but at the flexibility of the business.

Pros of external CTO

• Start a project without commitment for a long time.
• Get fresh perspectives on your business.
• They offer tech solutions as per their expertise in various/specific domains.
• They stay updated with emerging trends.
• They are backed by their track of solutions in the tech industry,

Cons of external CTO

• Finding the right virtual CTO may require time.
• The activities may be difficult to control as they provide limited services.
• Matching the schedules, if not decided in advance, may take time.

Benefits Of Hiring CTO

Easy Access To Experts

CTOs bring invaluable experience and knowledge to your company from day one. With their hands-on expertise, they can help your company in its entire technical journey.

Economical Choice

CTO service is chosen by many businesses as it is a cost-efficient option. You choose the services based on the requirement, which means getting great CTOs at pricing that suits your financials.

Task-Based Support

Even if the CTO is not a full-time hire, the support provided is based on requirements and not hire status. Why choose one CTO for all requirements, when you have the liberty of choosing the best one for a task?

Flexibility

Outsourced CTOs give you the scope to pay when you choose to avail of their services. It can be based on a period, or task requirement giving you the option to pay as you go saving operational costs.

How A Virtual CTO Helps Business

Not all companies may require an internal CTO. However, technical requirements may arise in every company. CTO-as-a-service aims to provide technical support without hiring a full-time CTO. It is an initiative for all companies that require niche technical guidance for scaling their business, but based on their current needs.

External CTOs can help your business with

1. Technical Team Building

When building a technical in-house team, hire an external CTO to support you with the right guidance for the team.

2. Project Management

If your team requires a head to create a technical roadmap, delegate the work, and manage the projects, virtual CTOs can help you.

3. Consulting

If your business requires technical guidance to enhance its services, a CTO will advise and suggest the necessary changes.

4. Digital Transformation

Experienced CTOs in digital transformation bring with them great exposure to the digital world, enhancing your firm’s overall digital strategy.

5. Scale Existing Products

Small businesses/startups may not always be aware of using technology to their benefit. Hiring a CTO for your startup can be crucial in leveraging technology to scale their products.

6. Technical Suggestions

If the founders are not from a technical background, an outsourced CTO will aid their vision to create a technologically robust organization.

7. Aid Existing Team

Many large-scale decisions can use an external CTO with niche expertise, even when you have a full-time CTO.

Conclusion

It is crucial for you to find a CTO for your organization. Be it internal or external, with the help of the right CTO, your business can become technologically viable. Understand your requirements, your goals, and your budgets to see what works best for your business.

Hire Virtual CTO With Ease

For the success of your technological inputs, choosing the right external CTO is crucial. Look for companies that have expertise in the niche and work you are looking for. They should have a few successful projects in their portfolio.

Who are we?

GKM IT is a leading IT outsourcing company that provides exceptional web and mobile app solutions globally. We’re a tech leader, hiring CTO as a service to assist globally well-known companies.

We have worked for many companies and provided them with multiple services, including Web Apps, UI/UX, Digital Marketing, DevOps, etc. For more information, drop us an email at [email protected] or fill out the form here.

Related Blogs –

Advantages of Outsourcing Your CTO Functions
How the CTO can drive the enterprise’s shift to the cloud?
Steps to analyze the need for hiring virtual CTO