What is a vCTO?

Otherwise known as a Virtual Chief Technology Officer, they’re an external IT expert that provides the business with ongoing development management of products/services that meet the customer needs on a flexible ad-hoc basis.
The role of a CTO requires constant research for high-tech solutions to improve the company’s product/services. They manage engineers and developers who design the products/services and evaluate the appeal and functionality of the final product/service versions.

What is “v”?

V – meaning virtual, represents remote and up to 10% weekly hours of consultancy. In some organizations, remote IT professionals can achieve 90-100% performance of a regular on-site consultancy.

Part-Time vs Full-Time CTO Services

A full time CTO salary ranges from $161k to $299k in Canada (data from Economic Research Institute, Payscale and GlassDoor). Although there is available resources and amount of work to justify those roles in enterprises, it is almost impossible to justify and finance a full time role even for medium size businesses.
A part time CTO is still available to handle the service and product development, together with CIO responsibilities. If the organization cannot support 2 separate positions as CIO and CTO, then the CTO responsibilities are usually taken care of a part-time CIO.
A part time CTO gives an organization access to expertise at the highest level without the commitment of a full-time salary.
CTO responsibilities include:

  • Developing goals and strategies for product designers, developers, and engineers
  • Collaborating with vendors in order to improve the company’s products/services
  • Ensuring the products/services align with business goals
  • Increasing company revenue by delivering cutting-edge technology to customers

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