Successful businesses today recognize the importance of aligning corporate objectives and company growth plans with technology strategies. However, not all companies require a full-time, permanent internal IT or technology team. Instead, many businesses have come to recognize they can leverage fractional CIO consultants to develop and implement technology business strategy.
What is a fractional CIO?
A fractional CIO provides interim strategic IT and technology expertise to companies. Typically, fractional CIOs work with companies that need project-based assistance or to supplement current resources. Many companies don’t need or can’t afford a full-time, in-house resource, yet seek to leverage the strategic expertise and direction of a C-level technology executive. Depending on the length and needs of the engagement, fractional CIOs can work on a part-time, full-time, project or interim basis.
What does the fractional CIO model have to offer companies?
- IT Governance – Seasoned CIOs know how to mitigate information risk while ensuring that your company yields value from technology spend and accomplishes business objectives. From rapid growth to accelerated innovation to mergers and acquisitions—there are many instances throughout a company’s lifecycle that can open the business to potential risks. During these phases, fractional CIO consultants can ensure that your company is safe by providing technology and information risk assessments, and developing and implementing technology governance and control framework.
- Business Process Optimization – By aligning the business and technology strategies, companies will achieve optimal results. The strongest CIOs are equally skilled in technology and business, possessing a keen sense for identifying business process improvement opportunities. To increase business optimization and automation, CIO consultants deliver quantifiable cost savings and process efficiency.
- Independence – When seeking the services of fractional resources, businesses can leverage additional expertise without employing the full-time headcount. At vcfo, our approach allows our CIO consultants to remain independent, providing our clients with an objective evaluation of software, hardware and services to ensure the realization of value from technology spend.
- Change Agent – The forward-thinking CIO has a constant eye out for innovative technology that can productively benefit the client’s business through improved information capture and intelligence. By marrying those innovations to the business strategy, CIOs create change opportunities for current and future benefit.
- Cost-Effective – Every business requires a sound technology strategy and strong technology leadership, but not all can consume or 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.
Whether a company seeks the services of a fractional CIO to address a critical need, provide supplementary support or manage through change, CIO and technology consultants can provide a wealth of value for businesses from a strategic and tactical perspective.