While the whole world is racing towards technological advancement, companies are seeking more and more effective as well as skilled resources as CTOs. But, money always works as a hindrance everywhere, especially in between finding the best CTO and balancing the budget.
Not only the Startups but also big sharks also find it troublesome often to find the best CTO within their allotted budget. And somewhere among all these hassles, a new term CTO as a Service (CTOaaS) is becoming popular these days. So, what is CTO as a Service (CTOaaS)? Why is it creating such buzz everywhere? Let’s take a look!
What is CTO as a Service (CTOaaS)?
Some people love to call it ‘Part-time CTO’, some call it ‘Advisory Service’. And actually, in some measure it is. If you want to find the best CTO within your budget, you can go for it, just based on the pay-as-you-go model if you hire a Chief Technology Officer-as-a-Service (CTOaaS). Executive-level CTO can be hired in this way.
It can be considered as an advisory or consulting service that will come for a company as a third party. The responsibility of a CTO-as-a-service (CTOaaS) is almost similar to the traditional CTO, but with digitalization, s/he will enjoy working remotely without being a full-time employee of the company.
Will the CTO as a Service (CTOaaS) be responsible as the same as CTO?
Of course. Maybe, you will get an expert within the same budget if you go for CTO as a Service (CTOaaS). The main difference between these two positions is, one will be there for you physically all the time and the other will attend virtually. The result will be the same, even better. Better because a CTOaaS works remotely. So, his/her work is more responsibility or outcome-based. Whether it is an event or a project, CTOaaS will try hard to make it a success and deliver the product within time. The performance pressure won’t be on you at all.
The responsibility of a CTO as a Service (CTOaaS) can differ on the goal of a company. But if you consider the general tasks, a CTOaaS will be responsible for the below tasks of a company:
From building a product to achieving the business goal, doing research, organizing the technical team, managing the development works, etc., and many more responsibilities fall within this regular task.
Analysis and Evaluation
There can be times when you will need to know how your platform is working, what is the current situation and the quality of it etc. You will need to do some analysis and evolution at this point, which only a person with proper technological knowledge will be able to do. You may get even stuck within everything and this one person from outside will help you to get out of it.
Think about a situation when you have to let your current Chief Technology Officer (CTO) go because of an audit issue. For emergencies like this, to ensure the business is going swiftly, a CTO as a Service (CTOaaS) can be highly beneficial for your company. Situation or tasks like this also fall under the responsibility of CTOaaS.
So, which one can be considered better between traditional CTO and CTO as a Service keeping the digital era and all the benefits in mind? Of course, these days CTOaaS will win the race. If still you are not convinced, here we are giving more reasons.
Why should you choose CTO as a Service (CTOaaS)?
In every company, most people don’t have much technological knowledge. Thus, the responsibility of everything related to technology goes to the CTO. People who will work under him also get selected by the CTO. Of course, because s/he knows the best!
But hiring him can be tough. It may take a long time to find the perfect one available or within your budget. Even, you won’t be able to trust them primarily, as you don’t know them or their previous work pattern at all. These things will lead you to hire a CTOaaS.
CTO as a Service (CTOaaS) will offer you:
- Cost-Effective Service
CTO as a Service will offer your much more expertise within a cost-effective budget. Administration cost, extra salary, benefits- it can go away easily with just this single solution.
- Multiple Option
You may not find the best person as CTO for your company available. But you can always get the best and choose out of multiple options if it is CTO as a Service (CTOaaS).
- Measurable Success
The success of a Chief Technology Officer (CTO) can’t be that much measured for your pattern of the company before hiring them. But CTO as a Service (CTOaaS) can provide you the measure from a non-technical person/ company if you want. You can go for the same patterned companies to get CTO as a Service (CTOaaS).
- Technologically Advanced
Due to the constant use and change of technology it always becomes tough to get used to the right one. CTOaaS knows this fact is rapidly changing as they are working in this field for a long time. So, they always remain technologically updated which is a good thing for you and your company.
What are the risk factors of hiring a CTO as a Service (CTOaaS)?
Anything doesn’t come as risk-free. So, if you hire a CTO as a Service, you may go through the risk of-
- Not trusting Him/her
- Proper communication
- Quality service in multiple tasks at a time
Enough of the theories. Now let’s talk about the facts. If you hire a CTO as a Service (CTOaaS), there can be multiple benefits. But if you finally have found your ultimate CTO and you are sure about their skill and words, you may go for the traditional CTO hiring. Other factors like- financial situation, company vision, your sense- all of these matter too. Unfortunately, all of it differ within countries and companies. So, at the end of the path, it is your decision whether you will find a CTO or go for a digital CTO as a Service (CTOaaS). Now, which one seems more effective and sensible to you to hire? Don’t forget to let us know your opinion!
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