Every business requires the right amount of attention. This applies to standard companies as well as startups. However, for many enterprises, there may be a situation where the staff will need additional technical support to implement product development process. This is especially true if you are planning to release your own product and need proper business analysis and implementation guidance to do so. The solution to such pains may be to hire a CTO as a Service. What is this role in an organization and what is it responsible for? I will try to dispel any doubts in this article.
Table of Contents:
2. What makes the position of CTO so important in a company?
4. How does CaaS become so popular?
5. Benefits of using CTO as a Service.
5.1. Staying up to date with technical and business responsibilities.
5.2. Advising on how to complete the project team.
5.3. Reduction of operational risk.
5.4. Openness to digital transformation.
6. Risks of the decision of using a CTO as a Service.
6.1. Ability to adapt to the work system.
6.2. Confidence in the skills of the expert.
7. Should I implement CTO as a Service for my company?
8. Is this the right time to hire a CTO?
Who is the CTO?
Probably the first thought that comes to your mind after reading CTO is the person Chief Technology Officer. Well, that's right! As you probably know, this is the top management position in a company responsible for technology stack. The duties of experienced CTO services include leading the engineering technology team. The role of the CTO is to develop company standards that improve the product and services with the help of technology strategy while focusing on external customers. The Chief Technology Officer should also have analytical & technical skills because all speculations about costs and benefits as well as return on investment are the responsibilities of this position.
What makes the position of CTO so important in a company?
Choosing a Chief Technology Officer should not be a standard employee recruitment. This is a very responsible position in the company, so the decision to hire such a person should be very well thought out. After all, we entrust someone with the fate of our product/service and the process of distribution to the customer. So this position should be held by a competent person who knows how to create a product from scratch and deliver it to the public.
What is CTO as a Service?
CTO as a Service is a kind of technical and business support offered by the Chief Technology Officer on a part-time basis. Compared to an in-house CTO, part-time support is financially viable. A company opting for a CaaS has to devote fewer resources than a full-time one, and is billed only for services rendered. For more advanced projects or those requiring a very high level of technical support, it's better to opt for a full-time CTO.
How does CaaS become so popular?
CTO as a Service is a popular solution used in startups and businesses where the owners do not have enough solid technical background. This form of support not only guarantees an expert perspective on the business, but also reduces any possible obstacles that may occur when operating on your own.
Recent years have seen a real peak in CaaS popularity. More and more organizations are opting for additional support to streamline product processes and improve team productivity. Driving this, among other things, are the successes of popular start-ups like Snapchat and YouTube, which have seized their opportunity by hiring competent CTOs.
Benefits of using CTO as a Service
Business motivations related to benefits are most often behind the decision to choose CaaS. Here are the arguments that come up frequently during the discussion in favor of CTO.
Staying up to date with technical and business responsibilities
CTOs' exposure to numerous projects keeps them abreast of current business trends. Such knowledge can be crucial in preparing development strategies, identifying target markets fitting in with customer expectations.
Advising on how to complete the project team
What should the team look like? What to pay attention to when recruiting employees? How to motivate the selected staff? These are just some of the key issues your chosen CTO will face. The right person will make every member of the project team a strength.
Reduction of operational risk
The CTO's responsibilities will include the development of appropriate processes, operations, activities, which, based on budget monitoring and deployment of available resources, will allow the company to be managed even under the most difficult conditions.
Openness to digital transformation
We live in a time of digital transformation. More and more businesses are establishing a web presence and are open to modern solutions. Hiring a outsourced CTO is an opportunity to develop business processes in such a way that the company's chosen technology will help it succeed online.
Risks of the decision of using a CTO as a Service
There are two sides to every medal. So does the decision to hire a CTO. Here are the risks that can occur when deciding to partner with such a person.
Ability to adapt to the work system
Working on multiple projects can translate into quality service. Especially when our potential CTO is not adapted to a dynamic environment. Therefore, the ability to be flexible in terms of work is an important threat from the company's point of view.
Confidence in the skills of the expert
Trust is the foundation. However, when you have to hand over part of the responsibility for a project to the chosen specialist, doubts may arise. Therefore, before you decide to work with an external CTO, it is worth getting to know his/her skills so that you are not surprised negatively during the work. Make a responsible decision using common sense.
Should I implement CTO as a Service for my company?
If you have doubts whether your company needs the support of an external CTO then you should do the right analysis. It doesn't matter if your business is just starting out or has been on the market for a long time. The most important thing to consider is whether:
- do you need support in product technological development
- you are not quite sure if the technologies you have chosen are suited to your business idea
- you need an audit for your products
- your company has problems with prevailing regulations
- you prepared an MVP development and want to go public with it
- the technical tools you are using are not up to date
Is this the right time to hire a CTO?
The decision to hire a CTO is not as simple as it may seem. Before you make a final decision, consider whether the presence of such a person in your company is needed at all. If so, create the right conditions for this person to work in order to get the most out of his/her potential, and thus to develop your project together.
Remember also about trust. This is one of the most important factors in this cooperation. A properly built relationship with the CTO will help you focus on the important thingsget rid of unnecessary stress during the cooperation. As you can see, CTO as a Service can be a good driver for change. Nonetheless, before you decide to hire an outsourced CTO, prepare this position properly to make the most of the new employee's aptitude in the company.
After reading the article, we encourage you to visit our Case Study section, where you can find many of our past implementations. Learn about projects that have transformed the operations of many companies around the world. Who knows, maybe your business will also benefit from the support Railwaymen offers.