What Are the Top Benefits Of Hiring a Virtual CTO For Your Business?

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If you own a business with digital infrastructure, then you will benefit from hiring a virtual CTO.

A virtual CTO (Chief Technology Officer) is an individual who monitors, oversees, and is responsible for their employer’s digital assets and infrastructure, ensuring that short- and long-term goals are achieved.

Hiring a virtual CTO can have a lot of advantages. Before hiring one, you need to make sure that you hire one that’s as professional and experienced as possible.

This post will tell you about all of the benefits you will get from hiring one.

What are a Virtual CTO’s duties?

Before addressing this post’s titular question and examining the advantages of hiring a virtual CTO, let’s first cover what a virtual CTO actually does.

What Are the Top Benefits Of Hiring a Virtual CTO For Your Business

At a very basic level, a CTO will provide consulting services, offering unbiased opinions and technical advice

A CTO will also provide efficient solutions for any difficult problems that your company has been experiencing, technologically speaking. 

In addition, a virtual CTO will help your company to adopt new technologies, design a framework for technical growth, and save money.

Cost-effective

The first advantage of hiring a CTO that’s worth noting is that they can help your business to save a lot of money.

One of the ways that a virtual CTO can help you to save money is by offering their services for significantly less than a full-time CTO would.

Because virtual CTOs would for your company part-time, you don’t have to pay them a full-time CTO’s wage. You get all of the benefits of a CTO, without having to pay their salary.

Implementing ideas

A virtual CTO will, ideally, be somebody with a lot of experience, in both technology and business. Because of this, they will have seen things work in other companies that haven’t yet been implemented in yours.

They can bring their experience and ideas to your business, helping you to develop better strategies, and implement effective solutions. It’s also worth noting that a virtual CTO will be able to make unbiased suggestions. 

Because they don’t work for your company full-time and haven’t got an emotional investment in it, their suggestions will be pure, refined, and most of all, useful.

Optimise solutions

If your company has any developed solutions already integrated, a virtual CTO will be able to work with you to optimise them even more than they already are

Optimisation can help to make your business’s solutions a lot more effective. Not only can optimisation help your solutions to become more efficient, but it can also help you to save money.

A virtual CTO will do everything in their power to save your business money. They will also work to optimise other areas of your business’s IT. They may even be able to optimise your company’s SEM efforts, depending on their level of experience.

Periodic assistance

Another advantage to having a virtual CTO is that you get periodic assistance, meaning they will help you when you need them to. You won’t have to pay them full-time, because they won’t work for you full-time.

Periodic assistance

Periodic assistance is much better for a small business than full-time assistance since it’s highly unlikely that you are going to need a CTO to be around all of the time, helping you with things. 

You should bear in mind though that you will have to give your virtual CTO a contract, specifying particular hours that they work.

No freelancer is going to work on an unplanned schedule because they will have other obligations and clients that they need to work around.

Tech advice

Unless you are an expert in technology, a CTO will come in very handy. They will be able to work with you and give you tech advice.

Getting tech advice is very important if you haven’t got any experience in it, especially if you are trying to run a business today, where technology is extremely important

A CTO’s tech advice will help you to make better decisions about your business’s software and technology. They will also be able to help you with hiring people for positions related to managing your business’s tech.

Assisting CTO

If you have a CTO who’s currently in place, then a virtual CTO will be able to work with you to help them. A CTO’s job can be very busy, especially if you have a lot going on with your business and you are in a state of growth

If you are going to hire a virtual CTO, then you need to make sure that you tell your current CTO that the person that is being hired is only being hired temporarily.

You don’t want them to think that their job is in jeopardy, because they could end up looking for work elsewhere.

Tech leadership

Tech leadership is one of the main advantages of hiring a CTO. They will be able to take ownership of your business’s tech initiative, improving it and making it work a lot better.

In addition to being able to take leadership of your company’s tech initiative, they will also be able to implement software changes and incorporate new solutions, helping your company’s IT department to work better

An IT department that works better will benefit your company in many ways, one of them being that your company will function better and will be more profitable.

IT management

If you don’t have an IT manager appointed to run your company’s IT department, then you need one. A virtual CTO will be able to do this for you. As mentioned previously, IT is very important in today’s businesses.

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If a company’s IT department doesn’t work properly, then a lot of functions will be delayed or won’t work properly. Proper IT management is essential.

When you are hiring a CTO, make sure that you extensively vet the candidate, so that you can be sure they are experienced enough to be able to manage your company’s IT department

You don’t want to hire somebody who’s inexperienced, especially since they are going to be managing such a vital department as your company’s IT department.

Software analysis

Software analysis is another advantage that you can get from hiring a virtual CTO. They will be able to analyse your business’s software needs and determine whether or not new software is needed, or if your current software is sufficient.

It’s also worth noting that a virtual CTO will be able to decide whether or not it’s necessary to implement your own custom software.

A lot of businesses today are having custom software developed for them because custom software can give them something that’s entirely their own to use.

When you use software that’s publicly released, it can’t be tailored or adjusted to your business’s specific needs. If your virtual CTO does suggest that you get customised software developed, it’s a very good idea to leave everything to them.

Don’t try to interfere too much as far as the software’s features are concerned. If you do, then the software may not end up being as effective as it could be if your company’s virtual CTO had full control.

Creating roadmap

A roadmap to success is essential for all businesses. A CTO will be able to create an IT roadmap for your company, which will work toward greater efficiency and optimisation

When you first hire a CTO, it is a very good idea to specifically request them to create a roadmap for your company. A roadmap will make your company’s direction a lot clearer.

You should tell the IT specialist that you hire to work as a CTO what your company’s goals are so that they can incorporate these goals into the IT roadmap that they develop.

An example of an IT roadmap goal could be ‘working toward greater IT efficiency.’

Cloud strategy

Cloud software is used by more or less all businesses today because it’s very effective and a lot more efficient than traditional hard storage.

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A virtual CTO will be able to work with you to develop a cloud strategy so that your business’s data is stored more effectively. When stored on a cloud server, data is a lot more secure and is less likely to be lost. 

You can also perform regular back-ups on cloud servers which can’t become corrupted, unlike back-ups on hard storage devices. A CTO may even be able to build your own cloud-designated cloud server for you.

Advantages over an in-house CTO

There are many more advantages to hiring a virtual CTO than there are to hiring an in-house one. Some of them are:

  1. Virtual CTOs are a lot more affordable, mainly because they work a lot fewer hours than an in-house CTO traditionally would.

  2. You don’t have to worry about giving them company benefits, like dental or health insurance.

  3. You can get rid of them very quickly, with no notice period.

  4. You can benefit from their expertise and previous experience, and if they aren’t right for the job, you can fire them no questions asked.

Final words: What are the top benefits of hiring a virtual CTO for your business

Hiring a virtual CTO is much better than hiring an in-house or full-time one. As this post shows, there are many advantages to hiring a virtual CTO.

When you are searching for one to hire, make sure that you conduct an extensive online research so that you can hire the one that’s right for your company.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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