Business,Technical

What is a fractional CTO and why should I care?

Business,Technical
clock 17/04/2023

Hiring an external Fractional CTO (Chief Technology Officer) can provide a range of benefits to companies, particularly those that are in the early stages of development, struggling to keep up with emerging technology trends, or lacking the necessary expertise in-house.

Some of the major benefits of hiring an external Fractional CTO include:

Cost-effectiveness

Hiring a full-time CTO can be costly, particularly for early-stage startups or small and medium-sized businesses. Fractional CTOs provide access to top-level technology expertise at a fraction of the cost of hiring a full-time CTO.

Flexibility

This type of solution provides the flexibility to adjust to the changing technology needs of the business. They can be engaged on a part-time or project-specific basis, allowing the company to scale up or down as needed.

Access to expertise

They also bring a wealth of technology expertise and experience to the table. They can provide strategic guidance and recommendations, as well as hands-on technical expertise, to help the company achieve its technology goals.

Objectivity

An external CTO can bring an objective perspective to the technology strategy of the company. They can assess the current technology landscape, identify gaps and opportunities, and provide recommendations that are in the best interest of the company.

Faster time to market

By leveraging the expertise of a Fractional CTO, companies can accelerate their technology development, and get their products or services to market faster. This can provide a competitive advantage in a rapidly changing market.

Improved decision-making

This type of collaboration can provide valuable insights into emerging technology trends and best practices. A project based CTO can help the company make informed decisions that align with its technology strategy and business goals.

Reduced risk

Fractional CTOs can help the company mitigate technology risks by identifying potential security vulnerabilities, data privacy concerns, and other potential threats. This can help the company avoid costly technology-related failures or breaches.

If you want to learn more and find out how a fractional CTO could help your particular business case do reach out to us, we can share how we’ve helped others with a tailored strategy.

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