This blog will discuss the many benefits of a Virtual Chief Technology Officer (vCTO). As you may know, a Chief Technology Officer is charged with leadership and strategy for the technological requirements in an organization. This includes protecting employee information and other sensitive data that requires a robust cybersecurity program.
A Virtual Chief Technology Officer is where the organization contracts with an outside party, rather than hiring an individual to fill this role. It can also be referred to as an Outsourced CTO, Fractional CTO, Virtual CTO, among other terms.
So Why Do Some Organizations Choose The Virtual Route?
There are many benefits to a Virtual CTO, and we have compiled a list of the most compelling reasons:
1. Independent – Independence for the CTO position from IT Operations is essential to any organization with limited staff, this can be a challenge. A Virtual CTO can be a great way to solve this. Not only is the vCTO independent from IT, but office politics as well.
2. Expertise – Hiring and keeping experienced CTOs is tough, so a Virtual Chief Technology Officer can be a way to improve the organizations cybersecurity posture without adding another FTE. More importantly, if you go with a company that has several vCTO clients, the group knowledge of their client base can be invaluable. vCTO’s and vCTO’s with big 4 consulting experience tend to have the breadth and depth of experience that can be extremity beneficial.
3. Continuity – Having an in-house CTO can be great, until someone else hires them. A Virtual CTO can offer any organization continuity in this role. Even if people move, there’s the benefit of having the continued relationship with the company and the rest of the team, along with the continued processes and approach.
4. Specialization – If you work with a firm that specializes in Virtual CTO services, this is a huge benefit. Having a vCTO that is focused on doing a few things really well that are aligned with the organizations business vertical can have a positive impact on overall strategy and effectiveness of the role in your organization.
5. Cost effective – Although many organizations just can’t justify the $175K+ salary of an experienced full-time Chief Information Security Officer, they are finding that a Virtual CTO can have many of the benefits of an FTE at a lower cost. This is often since most smaller organizations don’t need 2000 hours per year for the position. Another factor is that larger organizations are utilizing vCTO services to selectively fill only the highly specialized portion of the role, also saving money.
The Benefits of Consistent Reporting for the vCTO
The independent vCTO team will be working closely with all involved parties in establishing an effective and ongoing cyber and information security program. This will require monthly meetings to review, plan and execute cyber-related activities as well as quarterly or semi-annual executive meetings to update the executive team regarding the latest development in the field and what steps could be taken to address such concerns. The vCTO team identifies best-in-class technology solutions and guarantee maximized delivery. This approach will lead to the implementation of the core components of an effective cyber and information security enterprise risk management program as practiced by larger firms, but one that has been adjusted to fit the needs of a middle-market organization.
TekElement, is a premier MSP company based in Dallas, TX. We believe that innovation is the cornerstone by which organizations succeed or fail. Our focus for our customers is to identify areas where these tech elements intersect with business-critical operations and apply innovative approaches and solutions to ensure technology is working in harmony with your business strategy.
Since our founding in 2008, our focus has been to identify best-in-class technology solutions and build internal expertise in those areas to guarantee maximized delivery for our customers. Whether it be in security, cloud hosting, or ongoing support, our customers can trust in our solutions to create seamless integration and execution across all areas of their business. Contact us today for a free evaluation of your IT infrastructure.