SimpliFed Names Gajen Sunthara Chief Technology Officer
The Chief Technology Officer is responsible for any technology-related issue. As a result, a CTO requires some technical knowledge along with leadership skills. Such executives are responsible for a company’s technical needs, along with research and development (R&D). They also assess the short- and long-term business necessities and use capital to make investments assisting the company in achieving its goals.
Organizations looking to hire a CTO should seek someone who is ambitious and bold, “someone who can shake the status quo, stay resilient, and turn technology into something useful for the organization,” Aksakal says. These traits can be demonstrated by earlier career choices and accomplishments. “The role of the CTO continues to evolve,” says Craig Stephenson, managing director for the North America Technology Officers Practice at organizational consulting firm Korn Ferry. Some CTOs are also responsible for managing research and development initiatives and overseeing intellectual property at their organizations. As has been written, CTO roles and responsibilities are not definable in a couple of lines.
CTO vs. CIO
A CTO should be able to communicate with senior leadership, technical teams, customers, vendors, and other departmental employees and convenience them why they all should believe in his or her vision and help execute it. I’ve also found that a strong relationship between the CTO and CFO builds a common business understanding. I continue to gain a deeper appreciation for the financial implications and constraints of my organization, which enables my team to prioritize technology projects and investments accordingly.
- To deliver products/services that bring great returns, they need to first figure out what people want.
- At this juncture, the CTO is a senior executive which is several levels away from the hands-on task execution.
- There are two leading types of CTO in a software company — operational management and technical leadership.
- The CTO also creates policies and procedures that leverage technology to enhance products and services delivered to external customers.
- Navigating this change requires a diversity of thought, and for business, that means new skills, experiences and potential.
More important to the role than in-depth technical knowledge of hardware and code might be the ability to leverage advanced technologies (AI, big data and machine learning, for example) to set a strategic course for a company. A CTO must acquire an innovative mindset to find new ways to create products, processes, cost structures, operating models, and application development. CTO as a service comes with reduced cost, lowered risk, increased growth, and heightened value. They support the technology issues facing a company and find better solutions for the software development phase. Today, CTOs manage all technical aspects of a firm and guide employees on developing the right products and technology that support the firm’s needs. CTOs study these emerging technologies, working out how these innovations can be used to create cutting edge, marketable products/services.
What does a Chief Commercial Officer (CCO) do? And what is the meaning of a CCO?
Since CTOs need knowledge of every department role, experience in several different technology positions is valuable. They are the creator and overseer of the technical strategy, envisioning how technology will be used and how to implement further technologies. They will increase the maturity of the technology processes and, in most cases, be less hands-on from a development perspective. The focus of their role is on building out a larger team and formalizing roles—such as cloud/network team, engineering team, quality assurance team and development team—to support them. So, rather than having deep knowledge in each of the aspects, they need to be able to translate global vision to specific goals and manage the teams well.
They manage engineers and developers who design the products/services and evaluate the appeal and functionality of the final product/service versions. CTOs oversee the effectiveness of technology resources within an organization, including everything from phone systems to enterprise software platforms. For the success of both technology startups and global stable software companies, the role of a Chief Technology Officer is essential. The CTO leads all tech-related issues and controls all related processes aimed to solve the company’s software product challenges. A good Chief Technology Officer has excellent written and verbal communication, allowing them to communicate with other Executives or lower-level management in a clear and effective manner.
Technical Leadership Needed from the CTO
Some corporations—not all—split the responsibilities between a CTO and a CIO. For startups, however, usually, a single CTO is in charge of all the technological operations. Depending on the organizational structure, CTOs can report to various other C-level executives. “Technology vision coupled with strategic thinking beyond technology” is important, says Ozgur Aksakal, president of the Global CTO Forum, an independent, global organization for technology professionals. As a member of the C-suite, the CTO needs to possess natural leadership skills, including the ability to delegate tasks and inspire staff in their work. As such, CTOs are among the most important hires organizations are making today, and it can be challenging finding the right person who possesses all the right skills.
They will be walking on the same path to reach the startup’s main objectives. Change is also imminent which means that the product that worked before cloud service cto responsibilities needs to be tweaked regularly to keep up with the trends. It should also be scalable and buildable which means that it can constantly be improved.
How to become a CTO
CTO of this type may have studied finance, project management, mentoring, and other non-technical skills. CTOs are responsible for a company’s technical needs, along with research and development (R&D). Many well-known startups have failed before becoming successful due to their decision to work with an in-house team on a poorly thought-out concept. So one of the CTO tasks and responsibilities is to determine which components of the work can be created and optimized by an in-house team and which would necessitate the engagement of external resources. It is critical to recognize the necessity for outsourcing services as soon as possible.
Conversely, owners have that power, but are more likely to become disconnected from market realities, sometimes leading
to product-development blunders or to resentment from the business units. Meanwhile, recent McKinsey research shows that companies that keep abreast of new technologies and build them into their strategies and operating models have greater success than those that do not. It is becoming more common for CTOs to be one of the central drivers of a business’ digital transformation push, since they have plenty of knowledge of how any new technologies introduced to the organisation will impact employees. They also understand how this technology can help fulfil organisational objectives and modernise processes, and transform workflows within an organisation to become more efficient.
How a CTO can improve your business’s use of technology
In a sign of the increased expectations of top-class CTOs, the analyst says the role is moving beyond infrastructure management and towards driving technology innovation and leading digital product development. The analyst says CTOs should be looking to evolve their responsibilities in https://www.globalcloudteam.com/ response to the business’ demands for digital transformation. The CTO position often overlaps with other jobs, in particular, that of the chief information officer (CIO) or chief science officer. Depending on the company’s size and focus, it may have some or all of these positions.
When it comes to a CTO’s base pay, data from the company review website Glassdoor estimates the average at around £93,901 a year. This pay can range anywhere between £46,000 to £193,000 depending on experience. Ultimately, a team that is inclusive is likely to be more inclined to buy into the vision. And before they buy into the vision, workers need to be able to buy into the leader. CTOs shouldn’t forget that the whole team is looking at them and the standards and best practices they set will be followed. We spoke to four CTOs to get their view on the skills that have helped them, both personally and professionally, and how others might refine these skills in order to be successful in their role.
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That’s why CTOs may use new technology to alter an organization’s business model, products, and services. It will assist them in staying on top of the latest technological advancements so that they may potentially use digital innovations inside businesses. Integrating new technologies or innovations necessitates a well-thought-out plan.