CTO Bridging the Digital Divide!
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 Bridge has 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”.
