A Fractional CIO is an experienced, multi-skilled senior technology executive who serves as the Part-Time Chief Information Officer (CIO) for organizations that otherwise could not afford or need a full time professional.
The key business benefit of retaining a Fractional CIO is that they provide the same expertise and capability of a full-time CIO without the associated level of salary, benefits and overhead expense associated with adding a top-level executive. Fractional CIOs often serve more than one organization but are still effective at managing each organization’s day-to-day IT operations, resources and staff.
For some mid-market companies and growing start-ups, a full-time CIO may not be needed but there is likely a requirement for expert advice and direction on a regular basis. In addition, some companies may have a need for more experience during a specific event, such as a corporate transformation or acquisition. Alternatively, a company may need to fill a void during an executive search process.
Fractional CIO vs. a Traditional CIO
Fractional CIOs differ from traditional CIOs in that they serve as a working member of a company’s executive management team as a contractor. Fractional CIOs may also be known as Part-Time CIOs, Parachute CIOs, or CIOs on-demand. As with traditional CIOs, a Fractional CIO often helps with Technology Roadmaps, Business Process Improvements, and Business Technology Strategy.
Fractional CIO Role and Responsibilities
The following are typical responsibilities of the Fractional CIO.
IT and business strategic alignment
IT leadership and management
Key performance metrics definition and reporting
Service provider and resource management
IT and business risk management
Business process design and optimization
Project management
IT governance, security and compliance management
Disaster recovery and business continuity planning
Contract review, negotiation and management
Executive team advisor
Align Technology Spending with Business Objectives
A Fractional CIO can help align technology spending with business objectives. The Fractional CIO can also help to measure technology expenses, manage and maintain budgets, define ROI baselines, and help the organization decide which technology projects, services, or applications will meet the business needs as well as to identify the return on investment.
The Litcom Approach
Litcom can assist your organization by providing a fractional CIO/CTO with the right skills and experience. In addition, Litcom’s Fractional CIOs are supported by our entire team of IT professionals should the need arise for specific areas of deeper expertise.
If you would like to set up time to talk about your Fractional CIO needs, contact us now!