The third (in a row) sixer from Sundar Sampath "CTO
Bridging the Digital Divide!"
The Great Digital Divide Part 3 of 3
Now comes the important and the
obvious challenge for SMEs. Prudency dictates that they use their resources frugally. Hiring a full time CTO/CIO is
costly and hence more than often the founder, promoter or CEO delegates it to the CFO, CHRO and other C-suite
executives to manage the technology stack and the digital strategy within their functions. This approach works
initially but not without its pitfalls.
- Siloed with no common
organizational strategy to technology.
- Conflicting rather than
collaborative approach with each C-Suite leader trying to dictate only their
priorities.
- Suboptimal and rigid tech landscape that makes
scalability and change management difficult.
- CXO bandwidth is
prioritized only for core business/operations and hence technology always takes backseat.
- Other than cost, a SME
might not be able to attract a full-time experienced CTO/CIO
as
It can never provide diverse challenges to the individual
leaving him/her unsatiated. This might result in constant attrition and
churn.
- CTO/CIO also needs a team/ecosystem to be able to
deliver effectively. Once again, this adds to the cost factor.
A Level playing field When Fraction becomes
a whole piece!
Fractional CXOs is an idea whose time has come. For example, In the context of Indian
SMEs, CFO Bridgehas been at the forefront of successfully providing fractional CFO services and strategic
finance advisory over the last decade. This means that SMEs get a gold standard CFO support that was only available
to big enterprises till then.
Extending the same logic, Fractional CTOs can provide the level playing field to
SMEs on technology. The guiding principles are the same
- Unified
and strategic approach to technology
No burden of fulltime
cost.
- Affordable price points, pay based on use
only.
- Ability to plug and unplug the CTO services based on
need.
- Ability to engage the best and experienced CTO/CIO
practitioners.
- Multiple models of engagement Retainer or
special assignment based
- Institutionalized knowledge of diverse
CTO experiences.
Decade of Dazzle
The next decade is pipped to be India's decade with every other
global economic organization forecasting about India's outperformance. Needless to say, SMEs that utilize technology
better will come out trumps over others. A weapon has been unveiled in the form of fractional CTO services and its
now incumbent upon SMEs to arm themselves sooner! As they say "Time is of the essence".
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