Many companies believe that to achieve competitiveness in the technological plane and form a stable foundation for further scaling, it is enough to have a strong development team and complete an IT department. However, in practice, they need something more.
Specifically, to provide a constructive approach to the introduction of new and optimization of existing technologies, companies usually need a C-level expert who not only has an in-depth understanding of them but can also compare them with the business goals of these companies. At the same time, the variability of cooperation models with such experts is large enough to decide on the go which format is most convenient for a particular company. Let’s get into this right now.
Advantages and Disadvantages of Each of Both Models
First, let’s briefly describe an expert that can solve the global tasks described above. As you might guess, this is the CTO (Chief Technology Officer). The influence of these professionals is usually not limited to the development team alone – they also closely interact with managers, product owners, and stakeholders to align the company’s budget and its business goals with the software solutions and technologies used so that, as a result, digital transformation will bring the necessary growth rates.
So, let’s start with the traditional one – a model that implies hiring an in-house expert. In general, in the current realities, which imply unhindered access to a variety of digital tools for remote interaction, such a hiring format is reasonable in the only case: when a company has very strict requirements for the security of its corporate data and business processes and does not allow their disclosure to third-party specialists.
As for the rest of the cases, resorting to virtual CTO services would be a more cost-effective option. In fact, by hiring an expert in the CTO as a Service model, you get all the same services but in a more convenient format: at the right time and without burdening yourself with all sorts of bureaucratic and organizational issues that are typical for hiring local specialists. In particular, you do not have to spend time looking for the right expert in your region, engage in official employment and workplace organization, as well as pay vacations, sick days, and other day-offs.
All of the above advantages make the CTO as Service model so competitive compared to the traditional one that more and more companies that have no funding restrictions for this position choose it anyway, refusing in-house specialists who provide CTO service.
Moreover, sometimes, the lack of specialists with the right set of CTO skills and, in particular, experience in a specific business niche makes hiring a local expert to provide CTO service completely impossible. Therefore, the model involving remote consulting and supervising development teams and IT departments is the only viable one for companies looking for new prospects for their evolution in the digital plane.
Now you know what is CTO in business and understand the difference between traditional CTOs and specialists working according to the CTO as a Service model. Therefore, you will be able to make the right choice for your company. If you are inclined in favor of the second option and are just looking for a remote specialist with needed CTO qualifications, just contact us. We will select a specialist according to your specific CTO requirements without compromising your budget.