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What is a CTO (Chief Technology Officer)?
“CTO is not your ordinary geek, but has strong business sense, management and people skill combined with extensive knowledge on the practical use of technology in your business.”
Technology is the secret weapon for your business, but finding the right technology solution to suit your business needs can be like looking for a needle in a haystack. CTO is someone who is well trained in finding needles in haystacks when it comes to technology solutions. They are not your ordinary geek, but a person with strong business sense, management and people skill combined with extensive knowledge on the practical use of technology in your business, and not simply adopt what is currently popular. CTO will look at your business inside and out, figure out where you want to go and map out the best technology to help you get there. Essentially, their main role is to assure the successful execution of the company’s business mission by leading implementation of business technology, planning for risk and growth.
For more information, you can refer to this article that outlines the key responsibilities of a CTO.
Why you need a CTO?
“Most often when people look for technology solutions, their first thought is of a technology vendor or developer.”
Most often when people look for technology solutions, their first thought is of a technology vendor or developer. Although buying from a vendor seems like the most straightforward way of acquiring technology solutions, but how effective is their product in fulfilling your business needs is often questionable. You will also risk paying more for unnecessary features, as they are very unlikely to provide you alternative options from other vendors. The developers who specialize in creating custom built solutions can deliver to you a tailor made technology solution as per your specification. But the main challenge is many of them are pure coders at heart. Unless you have a well-defined scope and detailed specification, otherwise they will not work well with you as they don’t like customers who keep changing their requirements, thus posing a greater risk to you. CTO objectively determines what you need, and represents your best interests to evaluate the technology and service provider that suit your business needs. He transforms your project from pure vision into engineering reality. CTO helps your business by giving you:
- Unbiased advice that’s in your best interest
- More options that fit your requirements
- Avoid paying more for unnecessary features
- Simple solutions for complex problems
- More streamlined business processes
- Better communication within the organization
In a nutshell, CTO helps you to get the most suitable and cost effective solution with a satisfied smile on your face.
Or read this article if you are interested to know more on how various types of technology specialist work.
Who need a CTO?
“Entrepreneurs who are starting up a new business; Executives who are facing persisting problems at work; Investors who are doing technical due diligence.”
For entrepreneurs who are starting up a new business but unsure of the technologies to support and enhance their vision. CTO can help them in writing business plan or proposal with technology strategy, implementation budget and timelines. If they are required to present their ideas to investors and potential business partners, CTO can help them to develop the preliminary mockup or prototype to support their presentation.
For executives who are facing persisting problems at work, or having projects with difficult goals. CTO can bring in his understanding of their business and technology together with additional knowledge and experience to prepare a comprehensive technology plan (or blueprint). He will work with them closely to implement the plan (build, buy, or outsource), on-time and within budget, then follow up with guidance and support as those plans are implemented.
For investors who are doing technical due diligence on their planned technology investment. CTO can help them to justify the merit of their investment by providing a well-grounded assessment on the technology potential, objectively evaluating the overall cost reduction, overhead cutting, decision-making efficiency, and operational flexibility.
To get more ideas on different situations in your business where CTO can help, feel free to download our Business-Driven Technology Solution Roadmap, or you can ask us directly.