A vacancy in the CIO position, whether planned or unexpected, can have a devastating, long-term impact on an organization. The experienced CIO deals, almost daily, with issues ranging from strategic planning to sustaining complex projects to dealing with crises that can cripple a business.
But it takes time to recruit and hire a new CIO. In addition, not all small and medium size businesses can afford the expense that accompanies employing a full time CIO.
Increasingly, organizations are finding that a fractional or ‘part time’ CIO is a smart way to obtain specific technology skills that perfectly fit a company on-demand as you need them. The key benefit is acquiring the expertise and leadership that comes with a technology leader, without having the full overhead and budget associated with hiring another executive.
A Fractional CIO offers many of the same benefits as a Full-time CIO:
Fractional CIOs stay on top of new technology because it’s their job. They learn and grow by considering all policy and changes. Since fractional CIOs often have valuable experience across various industries, the organization receives the added advantage of working with someone who stays ahead of innovation and design.
Seasoned CIOs know how to lessen information risk while making certain that the organization yields value from technology spend and achieves business objectives. From rapid growth to accelerated innovation to mergers and acquisitions—there are several instances throughout a company’s lifecycle that can expose the business to potential risks. During these phases, fractional CIO consultants can ensure that the organization is safe by providing technology and information risk assessments and developing and implementing technology governance and control framework.
The forward-thinking CIO has a constant eye out for innovative technology that can efficiently benefit the client’s business through enhanced information capture and intelligence. By joining those innovations to the business strategy, CIOs establish change opportunities for current and future benefit.
Every business needs a sound technology strategy and strong technology leadership, but not all can afford a full-time CIO. Ultimately, the cost of a fractional CIO pales in comparison to the incremental benefits of aligning IT solutions and business strategy. Fractional CIOs can work on an interim, part-time, project, or full-time basis – all designed to meet the client’s technology needs.
Having a CIO on board means that the individual looks beyond technology to find ways of increasing efficiency and automation company wide. Fractional CIOs are in a unique position of being able to scope out a variety of opportunities, thinking on a broader scope, and utilizing all tools and resources available to narrow in on best practices.
Why Should an Organization Engage a Fractional CIO?
There are many great reasons for companies to utilize the services of a fractional CIO, especially in mid-sized companies where:
- The CIO position has become stale and executive management desires a fresh outsider’s perspective.
- The fractional CIO can help the organization better define the long-term CIO role requirements and assist with onboarding the ideal CIO full-time candidate while serving in an interim position.
- An unexpected departure of an existing CIO has occurred, and a management is concerned about active initiatives and their IT organization unraveling.
- A mid-sized company cannot afford a full-time CIO and a fractional role is ideal until they grow to a larger size.
- A company may be positioning itself for acquisition and there is no long-term need for a full-time CIO role, or a full-time CIO is difficult to recruit.
- Management desires to shift away from legacy systems and the current team is struggling with the paradigm shift or pushing against change that a fractional CIO can overcome.
- There is a need to rebuild relationships that have broken down with the business and IT.
The Litcom Approach
We can assist your organization with providing a fractional CIO/CTO with the right skills and experience leading organizations and technology.
A fractional CIO can help your organization to:
- Develop IT Strategy for Organization
- Develop Cyber Security Policies and Architecture to Organization
- Develop and Maintain Policy and Procedures for Organization
- Software and Application Oversight
- Disaster Recovery Planning
- Planning and Budgeting of IT Department
- Job Descriptions and Hiring
- Work with Leadership and Board of Directors
If you would like to set up time to talk about your CIO needs, contact us now!