A Chief Technology Officer (CTO) is a professional who is responsible for all the technical aspects of company processes, tech-team management, and strategic decision-making. A CTO plays a key role in understanding an organisation’s business needs and the technological aspects of meeting them. However, you do not need to have a full-time person performing this role. you can outsource a CTO to provide these services.
If your organisation is looking to implement digital solutions and you do not have the leadership to manage the technology aspects of your business, consulting with a CTO is inevitable. It is important to have a person who can make essential decisions that power your business and is also willing to enter into a long-term technology relationship with your organisation.
Many startups do not have the financial capacity to hire a full-time CTO or at the least feel that they do not need this service. As the journey to digital transformation intensifies, your business might need a tech solution regardless of whether it is directly related to technology or not.
Why do you need a CTO?
Businesses that are keeping abreast of technology and building them into strategies have a competitive advantage over those who don’t. With the speed at which tech trends are emerging, you can’t afford to be behind the digital curve and rely on non-tech based operating models.
Despite being aware of the disruptive technologies, many organisations are not ready to exploit them because they do not have the leadership to usher them into the new technological shifts.
To stay on top of these tech disruptions, you need a CTO who owns the responsibility of strategising and navigating these shifts. A CTO can guide you to implement digital solutions that fit into your business model and help you make key decisions that strategically position your business.
Through the familiarity and interaction with your business, a CTO can help you eliminate redundancies in your business process to improve efficiency. For example, your business can benefit from workflow automation, streamlined operations, improved communication and reduced operational costs by implementing the best technology solutions for your business.
The role of a CTO is crucial in managing your IT infrastructure and customising your IT needs. There are several technology solutions ranging from mobile apps, cloud services, marketing platforms, automation tools and many others that you have heard and those you might be unaware of but it takes a skilled CTO to explore which ones align with your business objectives and when to incorporate them.
A CTO can further leverage your data to understand your customer’s needs and eliminate the barriers to meeting them. The insights from your data form a basis for your business strategy and doing this at speed is your competitive advantage.
When is the right time to bring in a CTO?
The right time to bring in a CTO may vary according to business needs. You might want to engage a CTO on a one-time consulting basis or on a long term basis depending on the nature of your business.
Here are some of the scenarios that may hint that you need to utilise the services of a CTO.
If you are a startup whose product is the business, it is important to plan for a CTO upfront in order to bring high ROI. As you plan your business strategy, engage with a CTO who will help you define your initiatives right from the beginning. A CTO with solid industry and IT experience can help you with proof of concept and give you expert advice on the best innovations for your minimum viable product. The CTO can also consult with you on several other tech solutions such as integrating with third-party applications.
Startups planning to scale
Engaging a CTO at this stage of your business is essential in reviewing the impact of your previous tech innovations and planning a roadmap for the way forward. If your organisation is looking for investment opportunities, having a CTO on board can increase your chances of funding because investors can see the potential of your product to scale.
You can keep maintaining your competitive edge by enriching your market offering with new tech innovations. Even at this stage of your business, consulting with a CTO is vital in establishing a strong foothold and meeting your customer’s needs which change over time.
Our organisation has a set of skilled professionals who can help you to strategise and implement top-notch technology solutions to get you started on the path of strategic innovation. You can also take a look at the work we are doing here.