Fractional CIOs Bring Big Impact

October 15, 2022

A fractional CIO differs from a conventional CIO in the sense that he or she becomes part of a firm’s executive management team on a part-time or contract basis. That is why fractional CIOs are often also described as Parachute CIOs, Part-Time CIOs, or (what we believe is actually a good alternative description) CIOs on demand. Fractional CIOs are often tasked with helping to improve business processes, drawing up technology roadmaps, and setting up a business technology strategy.

Benefits of Hiring a Fractional CIO

To reduce costs. The biggest benefit for a business of signing a contract with a fractional CIO is that these people can deliver the same capabilities and expertise as their full-time counterparts at a fraction of the costs normally associated with top-level executives.

All the skills without a full-time commitment. Many fast-growing start-ups and some mid-market firms often do not need a full-time CIO - but they do need the expert advice and guidance only a professional CIO can offer on a regular basis. Apart from that, businesses often need the specialist knowledge and skills of a CIO when they are going through a corporate acquisition or other major transformation.

They are great to have onboard during special projects. Businesses often do not have the internal skills to guide them during special projects. This is where a fractional CIO can be of great help. They can provide the necessary experience, skills, and leadership for technology and business evaluations, implementing new systems, security initiatives, Web3 projects, M&A transactions, digital transformations, etc. in an efficient and cost-effective manner.

A fractional CIO can help to make a downturn or a period of high growth easier to manage. Firms that go through a period of unusually rapid growth or are experiencing a downturn in business activities often desperately need an IT professional with the necessary skills and experience to lead them through the challenge. Hiring a CIO during such a period will allow the firm’s permanent IT staff to concentrate on their routine duties while the fractional CIO focuses on making the transition as smooth as possible for the business.

Staff development and mentoring. Many firms nowadays choose to hire a fractional CIO to mentor their internal staff members. Smaller businesses in particular often do not have the necessary skills and experience to mentor and develop their permanent IT staff members who might need new skills and insights to stay abreast with the latest developments in the industry.

To help retain stability when the firm has lost its CIO. A fractional CIO could be the perfect solution if a company suddenly finds itself without the services of its full-time CIO. During such a turbulent time the fractional CIO can provide the necessary guidance and management skills to prevent things from falling apart. He or she can help with assessing the firm’s needs, drawing up the new job description, and hiring the new permanent CIO. Very often, after having a fractional CIO onboard for a while, the firm realizes that it actually does not require the services of a full-time CIO - and the fractional CIO then becomes a valuable member of the management team on a part-time basis.

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