With workplaces rapidly evolving today, businesses rely more on modern technology to keep pace. Large corporations are leading in adopting technology in their daily operations and decision-making. In a survey of technology adoption by companies in the US, 89% of the surveyed corporations had adopted technology or were in the process of doing so, particularly in data analytics. The many benefits have informed the trend of technology adoption. According to a Xero survey, SMBs that adopt new technology see a 120% rise in sales and a 106% increase in productivity.
Every startup or business leveraging technology needs a Chief Technology Officer or a CTO to oversee and offer advice on different product and technical aspects. However, business growth has become comfortable with employees working remotely for various reasons, including affordability. For instance, hiring a virtual CTO is much more affordable than retaining an internal CTO who offers services with the same degree of proficiency. With a virtual CTO, you don’t have to worry about payroll taxes and additional office rent. In this article, you’ll learn who a virtual CTO is, what they do, the benefits of hiring a virtual CTO when you need one, virtual CTO services, and rates.
Who’s a Virtual CTO?
A CTO is a technology executive in a company or business and leads the engineering or technology department. They help develop procedures and policies and use technology to improve or enhance services and products, driving an organization’s technical aspects. A virtual CTO is all the above but operates remotely. The general target of a vCTO is to direct and encourage a company by providing innovative solutions that help boost productivity. For instance, a vCTO can help adjust an organization’s IT methodology in line with the latest technologies and general targets. By hiring a virtual CTO, you can avail all the services of an internal CTO, albeit cheaply.
What Are The Functions of a Virtual CTO?
The specific roles of a virtual CTO will vary based on the requirements of a business. However, some of the things to expect from a virtual CTO include the following:
- Overseeing the present technology vision inside your organization.
- Breaking down the accessible assets, plans of action, and IT foundations.
- Provides advice or counsel on the most proficient methods of using new technology innovations to ensure more productivity and the success of your business.
- Suggesting the innovation speculations which guarantee the highest return on investments conceivable.
- Providing advice on technology-based business issues.
- Guaranteeing that an organization’s programming arrangements are appropriately planned and grown.
- Oversees client connections and proposes plans for new customers.
Generally, an in-house CTO will provide the scope of choices per the functions of your virtual CTO, which are tweaked frequently to accommodate your organization.
How Do You Know Your Business Needs a Virtual CTO
Since hiring an in-house CTO can be cost-prohibitive for SMBs, most are now looking elsewhere. Today, most organizations can get the same expertise from outsourcing, especially in technology-related roles. One of the highly outsourced positions is CTOs. But how do you determine that you need a virtual CTO? Besides the fact that you’ll save a fortune by outsourcing, below are some of the signs that you could benefit by hiring an outside CTO:
- When you see value in continuous or ongoing IT services instead of quick emergency fixes.
- Whenever you notice that your business is having challenges keeping up with ever-changing technology demands.
- When your organization cannot justify the resources for hiring an in-house executive to manage information technology resources.
- Persistent technology problems in your organization or office to the point that they are becoming a distraction, affecting productivity.
If you’re facing either of the issues above, then hiring a virtual CTO could greatly benefit your business. Virtual CTO has the expertise and experience to:
- Utilize innovative technology to help your business achieve long- and short-term goals. For example, a virtual CTO can develop a strategy to streamline correspondence between the staff and upper administration by closing any information gaps.
- Communicate technology strategy.
- Oversee development and research.
- Supervise innovative work.
- Participate in various management decisions.
- Keep your organization up-to-date with technology trends, compliance, and standard regulations.
The other main benefits of hiring a virtual CTO include keeping the management up-to-date and informed on how resources will be used. The professional also helps safeguard your organization’s private data and uses technology to optimize various business processes. As SMBs start seeing the impact a technology roadmap can have on various parts of their businesses; the admonition signs present a huge likelihood of considering hiring a virtual CTO.
Benefits of Virtual CTO Services
In-house chief technology officers are excellent because they’re dedicated to your business and available whenever needed. However, hiring in-house can cost you a fortune, from recruiting and retirement benefits to high monthly rates. Unfortunately, their expertise may fail to keep pace with ever-increasing business strategies and technology changes.
However, this isn’t the case regarding virtual CTO services. These professionals make every dollar count by delivering high-quality services with high efficiency. Virtual CTOs work at the same efficiency or even better than in-house CTOs. Virtual CTO services and rates are business-friendly, and the executives are always up-to-date with recent technological changes.
Bespoke Remote Technology Support
Today, virtual CTO organizations have become a primary resource for business organizations that need off-site information technology support, which is comparatively as effective as in-house staff. The main reason why businesses require a CTO is to steer their information technology goals and also have visionary and great IT support. This is critical for various events where technology-based issues arise. It also helps organizations to adopt new systems and technological advances that help them succeed.
There Are There To Help But Not Intrude
A CTO role is critical in any business that wants to leverage technology. It is normal for business visionaries to believe hiring a virtual CTO service for a business might impede or interfere with their objectives. Fortunately, this isn’t true. Knowing more about your targets and business is critical for any developer in the CTO cycle.
From here, any CTO can ensure that all decisions suit your business’s needs. A virtual CTO will provide information regarding every information or idea they make, ensuring that you are in tandem with any technological changes. Although virtual CTOs aren’t necessarily physically present, they ably contribute to your organization’s technology efforts. They can offer supportive, high-quality services that help your organization offer quality products and services to your clients.
Innovative IT Strategy
A great virtual CTO always complies with your organizational efforts, but that doesn’t mean they won’t offer you innovative ideas. Since they are experienced and always updated with technological developments, they can offer innovative ideas to help you make organizational decisions. Today, you can leverage data and predictive analytics to make solid business decisions. By working with various businesses and clients, virtual CTOs can tap into the best technology strategies that might benefit the development and growth of your business.
Virtual CTOs can easily adapt to your organizational needs, whether you’re a large company or an SMB. They can easily align with your current business status and even help you grow. Most virtual CTOs have a deep understanding of the most current technical approaches. They can help you implement scalable, readily accessible solutions and systems that help your company to achieve its strategic goals, whether scaling or enlarging.
To succeed in business, you’ll need to offer innovative and flexible solutions that match your clientele’s business needs. A virtual chief technology officer helps you accomplish this goal. Modern technological applications such as artificial intelligence and predictive analytics aim to bring your company into the future and prosper through informed decision-making.
Hiring a Virtual CTO Virtual CTO Services and Rates
Have you decided that your business requires CTO assistance? You must ensure that you hire one that matches your business requirements. Whether your CTO of choice will be a success relies on several factors and as a manager, you can minimize the risks of any possible failure. You should have a solid and clear vision of where you are and where you expect or want to be in the future. You also must determine the role you’ll assign your CTO. Remember, the role of a CTO varies depending on the stage your company is in.
Below are steps to hiring a virtual CTO:
Set Your Business Goals
Are you planning to set up an MVP? Are you trying to get the most from your technology team and enhance the internal processes? Or are you even looking for various ways of meeting your customer’s present and future demands? You must then determine where you want a virtual CTO’s efforts should be concentrated.
Define the Requirements for The virtual CTO
Do you want a techie or strategist CTO? Depending on the chosen direction, you might or might not need the candidate to have programming skills, an engineering mindset, Q&A testing, and experience, among other skills. Ideally, you want a person who speaks the business language and is technically relevant. A CTO is a transformational leader; hence, they should be able to strategically and technically approach business growth.
Ask for Advice from Your Contacts
You shouldn’t underestimate the power of word of mouth, especially when hiring c-suite executives. Talk to business owners who have incorporated virtual CTOs in their teams or have recently collaborated with one. Ask about modalities like Virtual CTO Services and Rates and how they charge (monthly or hourly). Also, use networking platforms like LinkedIn and visit tech events to learn about virtual CTOs and how they can help.
Browse the internet for outsourcing companies that offer consulting and development services. They also should provide or showcase the completed projects. CTO case studies allow you to learn more about CTO solutions & decide if they are suitable for your company. Ensure you also use platforms like Clutch to check the platform’s business ratings. You’ll find feedback and reviews of the said provider’s real customers there.
Virtual CTO Service Providers
Several companies offer virtual CTO services or even virtual CTO software. However, you should look for one that offers or has a product that meets your requirements. You must also consider a company’s Virtual CTO services and rates. Some companies might charge exorbitantly high for the same services that another organization can offer better and cheaply. However, you should remember that cheap is not always the best. Hence, you should conduct thorough research before hiring a virtual CTO service. Below are some of the virtual CTO services:
Whether your goal is to establish a software production company, product delivery, technology advancement, or reduce cost, Adelear can offer your executives leadership support to scale and secure your technology. They offer a business executive technology support level that can align with your business operations and leaves nothing to chance to ensure that your business meets its strategic objectives.
Adelear aims to help you maximize your value from your engineering team and cloud platforms by offering scalable, cost-effective, and faster strategies to meet key technical goals.
Core Service Offerings
Adelear offers the following virtual CTO services and rates to their clients:
- Budgeting: Supports the process of planning for various IT-related spending.
- Risk management: Hiring a vCTO from Adelear helps you identify the risks related to reliability, software architecture security, DevSecOps process, and reliability.
- Planning: The Virtual CTO partners with other executives to make sure that technology aligns with business goals.
- Personnel: They offer support or even lead in screening and hiring technical staff.
- Strategy: They can help you develop and maintain a product technical roadmap to ensure success. The professional can also help your business define its DevSecOps process and even guide it toward achieving that.
- Decision Support: A virtual CTO from Adelear will also offer leadership support for various technology decisions like selecting the technology stack, building or buying a technology product, and even selecting and adopting cloud services.
- They can also provide advice on managing IT-related third-party relationships and software.
Their rates depend on the services offered and can be paid monthly, or weekly. However, contact Adelear for more information on their virtual CTO services and rates.
Are you a small business or a micro-enterprise that is looking to grow and wants to leverage technology? Hiring a full-time CTO might be overkill. Although there’s plenty of work to do, most of that is sporadic and mostly comes whenever new projects are discussed, underway, or even when emergencies pop up. What you need is a virtual CTO, and Virtua Computers can help. Below are some of the virtual CTO services and rates for Virtua Consulting:
- Informed IT perspectives in new project discussions that help you speed up implementation.
- Offers advice on best technology products that leverage new or futuristic features to help your company scale and grow.
- It helps ensure that the cloud services offer synergies such as integrations or sign-on with the present systems.
- Design technology replacement plans that increase productivity and uptime.
- Determines the efficiency of a new technology product by comparing its budget versus the increase in productivity.
- Oversees and supports IT team members & projects to align with the business goals and ensure efficiency.
Virtua Consulting’s virtual CTOs use technology to help your business operate at its best levels. Since their rates are budget-friendly, you’ll also be saving on cost. To learn more about their offerings and rates, reach out to them today.
Damco is an experienced tech consulting company that provides expert-level tech experts on-demand through virtual CTO services to startups and established companies. Under their CTO as a Service offering, their expert will work with you per your preferred communication channels, time zone, and even your office when required. With Damco’s virtual CTO services, you can access their pool of specialized technology resources that can help your projects. Below are Damco’s virtual CTO services and rates:
Virtual CTO Services
- Software Analysis: Whey will help you with proposal evaluation, requirement analysis, contract negotiation strategy, and choosing the best-fit tools to help you establish a future-ready technology ecosystem.
- Technology Leadership: They offer Advisory services for strategy and governance technology consulting aligned with the goals of your business. The virtual CTO will help you frame the KPIs to assess the ROI and technological performance.
- Project Management and Delivery: Deploy, manage, and even lead any technology by hiring a virtual CTO from Damco. They will help you facilitate project development, actualization, and integration with a pool of on-demand resources.
- Cloud Strategy: Planning to move to a cloud platform that can help you optimize critical business processes? Leverage virtual CTO services from Damco that can help you choose a cloud service provider and even migrate.
Damco offers other various Virtual CTO services to ensure that your business meets its goals. Contact them today to learn more about their virtual CTO services and rates.
Do you need a flexible virtual CTO service provider? Then Bryley Systems is your companion. Their virtual CTO professionals are highly qualified and available on demand. But what are their virtual CTO services and rates? A virtual CTO from Bryley systems can:
- Help you identify the risks and opportunities for delivering various company services.
- Lead your business’s strategic planning to attain various business objectives by identifying and prioritizing initiatives. They also will set timetables for the testing, development, & deployment of tech-based services.
- Budget IT systems to be ahead in planning
- Establish governance processes that meet the partner, government, and industry regulations.
- Investigate and implement an emerging technology solution to spur business growth.
· Develop a futuristic technology plan in line with
- your business strategy, plan, and emerging technology solutions.
There are many other services that a virtual CTO professional from Damco can provide. To learn more about these services and their cost, contact Bryley Systems today.
Being in the technology service industry since 2014, CX Dojo is another place where you can get virtual CTO services. The company has learned to deliver expected results and handpicked the right talent and expertise within that time. This makes them a suitable place to outsource your virtual CTO. Additionally, their virtual CTO services and rates are business-friendly, meaning you don’t have to break your back to meet the payments. Better yet, their virtual CTOs can pick up your business project from its current stage and move it to new heights.
- Virtual CTOs from CX Dojo will help offer digital strategy consulting that can help you make cost-effective technology decisions.
- They will help ensure that your budget is properly used and doesn’t become a black hole.
- CX Dojo’s virtual CTOs will help your business uncover the right technological solutions for its toughest problems.
- They’ll help oversee engineering processes and implement various solutions to ensure you can concentrate on building your business.
- A CX Dojo virtual CTO will also assess how technology will create an advantage for your business.
Do you want to learn more about CX Dojo’s virtual CTO services? Waste no time and contact them today.
With the ever-changing technology, you must ensure that your business is at par. This includes hiring technologically informed experts that are abreast with the advancements. Hiring a virtual CTO can guide those efforts to ensure your business is strategically positioned to leverage those technologies. However, there are various factors to consider, key among them being the virtual CTO services and rates. If your business needs a virtual CTO, head to the internet and choose one that meets all your requirements.