As of 2019, there are 31.7 million small businesses in the United States. While the pandemic caused most small businesses to close, it didn’t stop the rise of startups. However, it did lead to the need for technological experts as business operations are often done remotely.
From resolving and strengthening technological loopholes to developing roadmaps. Here are the five main responsibilities of a Fractional CTO.
1. Identify and Resolve Problems and Loopholes
Small businesses, especially startups, are the prime target of cybercriminals. True to this, 43% of cyber-attacks are mainly aimed at small businesses. Unfortunately, only 14% of small businesses can defend themselves.
This is where a fractional CTO comes in handy. One task of a fractional CTO is to identify problems of your business project. This is especially true if your product is technologically demanding.
Fractional CTOs can also work to identify loopholes that pose a threat to your security. They also have enough knowledge to develop strategies that can counter these loopholes.
2. Create Practical Plans to Help Upgrade Your IT
What sets fractional CTOs apart from regular technicians is commercial awareness. This means that they bear business principles when approaching and using technology.
Technology is becoming better and faster now and then, but these upgrades don’t come in cheap. Fractional CTOs find the best way to upgrade your technology while limiting expenses.
They find ways to maximize your current technology to improve your business operation. They will only suggest an upgrade when you lack the relevant technologies needed to enable competitive practices.
3. A Fractional CTO Develops Technology Roadmap
Fractional CTOs are typically hired to perform specific tasks. Often, this includes the responsibility of developing an initial technology roadmap. The importance of technology roadmaps is innumerable as it results in reduced hours of unproductivity.
A fractional CTO aligns technology-related spending with your business objectives. They determine which technology services or projects will effectively meet your business needs. Thus, increasing your business productivity.
4. Manage Technology Product Development
Aside from IT management, hiring a fractional CTO is also beneficial during the development of your product or services. For instance, if you’re building an e-commerce product that you’re planning to sell online.
While you’re unlikely to need to employ a permanent CTO, you’ll need a fractional CTO. This is because e-commerce spaces are messy. As such, you’ll need a fractional CTO to guide you as you go through the technology selection process.
The same applies when your product uses deep and heavy technical elements. For instance, you’re incorporating machine learning in your software product. In this case, you’ll need a Fractional CTO to help in your product development.
5. Oversee Project Implementation
Fractional CTOs also have to ensure that the product or service developed is working. It’s normal for projects to have problems that require deep-technical knowledge to fix. It’s the job of a fractional CTO to research and develop solutions for such issues.
Let’s say you’re implementing a shift to remote work in your business due to the pandemic. Fractional CTOs will develop and implement measures that address your technological needs. Their work will only end once the objectives of the project succeed.
Get Help From a Fractional CTO!
Based on the roles and responsibilities of a Fractional CTO, there’s no doubting their importance. As such, if you’re looking to get professional help, consider getting the services of a fractional CTO.
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