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Find answers to commonly asked questions about Eight Peaks.
What is a Fractional CTO?
A "fractional CTO" is a technology leader who manages technology for an organisation "for a fraction of the time, on a fraction of the projects, and for a fraction of the cost", compared to the traditional full-time counterpart. There’s no distinction between education level, years of experience, or any other skill - the only difference is that a Fractional CTO is essentially an on-demand consultant for specific projects, plans, or technologies.
If you don’t have a CTO, but you do have a vision, hiring a Fractional CTO is a great way to manage technology direction at a fraction of a full-time salary.
What does a Fractional CTO do?
A Fractional CTO brings a multitude of functions and responsibilities customised to suit your organisation's industry, size, and maturity.
A Fractional CTO takes charge of daily operations, cybersecurity, technology contracts, and growth planning. They design your company's tech strategy, ensuring it is optimised and adaptable for ongoing success.
The responsibilities include establishing a strong technology strategy, utilising the right technologies, and utilising technology to further your company's goals. This also includes the management of product roadmaps, overseeing tech developments, troubleshooting for IT teams, and ensuring seamless technology distribution to customers. Strategic partnerships with technology vendors, building scalable products, and supervising IT professionals are also part of the role.
A Fractional CTO's impact spans across departments, managerial levels, and business goals, making them an invaluable asset for your company's success.
Why should I hire a Fractional CTO?
When facing missed deadlines or products with excessive bugs, a fractional CTO can provide crucial assistance in uncovering the necessary improvements and implementing corrective measures for a swift transformation.
Investing in a CTO is essential if your leadership team needs more technology expertise. A fractional CTO is ideal when you need a skilled professional but need more resources for a full-time hire, or your business is still growing.
With a Fractional CTO, you have the flexibility to address specific projects and benefit from their seasoned expertise and fresh perspective, all at a fraction of the cost.
In a rapidly evolving technology landscape, having a highly skilled technology officer at the executive level is crucial for success in a competitive industry.
The benefits of hiring a Fractional CTO are clear:
Enable organisations to maximise internal resources
Fraction of the cost
Augment your leadership teams
Gain new perspectives
Scale your business
What does the engagement model look like?
Every company is unique in its own way, but here are a few examples to provide some insight.
We envision the future with organisations who desire to leverage emerging technologies like blockchain, generative AI or removing data silos in their products. This enables the organisation to be visionary in pioneering state-of-the-art capabilities through technology.
We partner with non-technical founders to align technology initiatives with business objectives. This enables the founders to focus on their business while leaving the technology to us.
We support growth startups to strategise, plan and shift resources from outsourcing teams to in-house teams, and vice versa. This enables teams to ramp up with minimal disruptions to operational readiness.
We augment enterprises through an external perspective to drive innovation or digital transformation initiatives. This empowers enterprises to pioneer new capabilities without losing market share.
Speak with us today to learn more about how we develop strategic partnerships to elevate your business.
When do I know it's time to engage Eight Peaks?
Not all organisations have the resources to hire a full-time CTO nor the bandwidth to make new investments in technology, yet they need someone to lead the technology change.
If your organisation is struggling with any of the following, it's time to consider engaging us:
No technology experts on the leadership team, and your business needs to invest in technology.
A technology team that might be lacking the right experience or industry knowledge to make strategic technology decisions for the business.
Projects that require insight from an industry leader.
A need to develop strategic partnerships with vendors, outsourcing teams, and/or recruiting firms.
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