Intro
A fractional CTO is a Chief Technology Officer (CTO) who specializes in working closely with the business side of an organization.
A fractional CTO operates as part of the executive team and is responsible for identifying, prioritizing, and implementing new technology solutions that advance the company’s business strategy.
The fractional CTO should be able to communicate clearly with the rest of the organization and collaborate effectively with other members of the business leadership team.
This role requires a keen eye for how technology can help drive the company’s customer experience forward and an understanding of what it takes to implement new solutions on a day-to-day basis. Read on to learn more about this new role and some common responsibilities.
What is a fractional CTO?
A fractional CTO is a Chief Technology Officer (CTO) who specializes in working closely with the business side of an organization.
A fractional CTO operates as part of the executive team and is responsible for identifying, prioritizing, and implementing new technology solutions that advance the company’s business strategy.
The fractional CTO should be able to communicate clearly with the rest of the organization and collaborate effectively with other members of the business leadership team.
This role requires a keen eye for how technology can help drive the company’s customer experience forward and an understanding of what it takes to implement new solutions on a day-to-day basis.
Bottom up or top down?
Fractional CTOs are typically set up as a top-down approach. This means that they are responsible for bringing in new technological solutions to the company, leading them to be more efficient.
In this role, the fractional CTO is usually responsible for creating and maintaining a strategic roadmap that outlines how technology will drive the company forward into the future.
In order to manage their responsibility effectively, fractional CTOs work closely with the business side of the organization. Fractional CTOs should be able to find reliable and trustworthy people on the business side who can help facilitate their day-to-day responsibilities.
Responsibilities of a fractional CTO
A fractional CTO is responsible for:
- Organizing and planning team members and work assignments
- Conducting technology risk assessments and managing project milestones
- Communicating work progress to the leadership team
- Providing recommendations for new initiatives
- Ensuring that projects are completed on time
- Working in collaboration with other members of the executive team.
This role requires knowledge and understanding of how technology can help drive the company’s customer experience forward. The role requires a strong understanding of what it takes to implement new solutions on a day-to-day basis.
Roles that may be included in a fractional CTO role
The fractional CTO may be responsible for any or all of the following:
- Coordinating and implementing technology solutions that enhance customer experience
- Providing IT leadership and direction to IT staff
- Evaluating new technologies in order to determine company’s technological needs
- Planning and building a digital strategy
- Managing customers’ information security and privacy
- Creating, maintaining, and supervising budgets for technology expenditures
- Developing policies and procedures related to the use of technology
Compensation for a fractional CTO
A fractional CTO is typically compensated differently from a traditional CTO. There are many ways a fractional CTO can charge for their services, but one way a fractional CTO may be compensated is by equity or by revenues from technology solutions that are sold to the company.
This arrangement rewards the fractional CTO for their efforts in developing and implementing new technology solutions that drive business growth.
The role can be highly rewarding if executed well and provides an opportunity for promotion down the line.
How to find a suitable candidate for the fractional CTO role
The fractional CTO should be able to identify, prioritize and implement new technology solutions that advance the company’s business strategy.
A number of companies are currently implementing this role in order to build a strong foundation for their digital transformation.
In order to find a suitable candidate for this position, you should look for someone with the following six skills:
- An ability to work with cross-functional teams
- A deep understanding of business objectives & technology
- Experience with integrating web and mobile development
- Strong communication skills
- Experience in building scalable architecture
- Ability to identify and prioritize projects based on business needs
Final words: Should you hire a fractional CTO?
With the changing demands of digital marketing, many companies are looking for new ways to organize their CTOs’ efforts. A CTO is no longer just an IT expert–they’re expected to be a strategic thinker who can help lead the company’s digital transformation.
At its core, fractional CTOs play a key role in helping organizations meet those demands. Fractional CTOs specialize in working closely with the business side of an organization, communicating clearly with other members of the business leadership team, and collaborating effectively with other members of the executive team.
If you’re looking for someone to help plan and implement your company’s digital strategy, fractional CTOs are worth considering.
Fractional CTOs have deep experience in defining solutions that align with business goals and they can make sure complicated projects work smoothly. You may also find them invaluable if you need someone to manage complex relationships across different parts of your organization.
In short, if you want a Chief Technology Officer who is willing to stay close to the business side of your organization and deliver on a range of projects from strategy development to project management implementation, fractional CTOs may be what you need – for now!
