A Fractional CIO is an experienced, multi-faceted 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 typically serve more than one organization while still managing the day-to-day IT operations, resources and staff.
Some mid-market companies and growing start-ups don’t have a need for a full-time CIO, but they do need expert advice and direction on a regular basis. Other companies may have a need for more experience during 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 CIO’s differ from traditional CIO’s in that they serve as a working member of a company’s executive management team as a contractor and may-or-may-not serve on the company’s board of directors. Fractional CIOs are may also be known as Part-Time CIOs, Parachute CIOs, or CIOs on-demand. As with traditional CIO’s, 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
- ROI evaluation and budgeting
- 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.
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!