Chief Technology Officers make day-to-day technology platform decisions and provide direction and management to development teams to drive the bottom line of the business . In today’s technology-centric business environment, leveraging rapid application development processes and tools to create unique, differentiating capabilities and application-based products has elevated many top performing organizations to increased top and bottom-line performance. A CTO works alongside senior leadership, taking their strategic vision and turning it into technology assets that create the future revenue streams of the company.
Software development is a rapidly evolving ecosystem with new development processes, tools, and capabilities continually introduced into the industry. Understanding this landscape, building and supporting an engineering team to make smart platform decisions is fundamental to minimizing future tech debt while maximizing speed to market for new products. A significant aspect of creating a successful software product in knowing how to correctly iterate from a minimal viable product to a fully mature platform while engaging customers and the marketplace along the way to ensure product-market fit.
Eight ways a CTO provides value
- Work alongside executive leadership to help develop a future strategy that leverages technology to drive top line and bottom line growth.
- Translate the business strategy into specific technology initiatives and projects.
- Identify the right technology tech stack and toolset to minimize time-to-market while meeting scalability and reliability requirements.
- Build the right internal team to cost effectively support development efforts
- Research, evaluate, and engage specific third party groups to support needs gaps and accelerate timelines.
- Manage contractual service level agreements with third parties to protect the organizations investments
- Manage the team and the process to maximize development effectiveness.
- Develop and manage development costs and budget
ClearTone Consulting provides expertise and value in the following areas:
Product/Software Development Strategy and Management
There is little in our world that changes as fast as development platforms and processes. As the world’s developers race to move their skills into cloud-based platforms such as AWS and Azure, how should businesses manage their legacy platforms to ensure they do not find themselves in a serious support challenge? Processes also continue to change extremely fast. Some business leaders are challenged to know what to expect as their IT teams talk about about moving from Waterfall to Agile, Scrum, or Kanban methodologies. Does changing development platforms or processes introduce new risks or costs to the business?
Even as some industries have been extremely challenged due to environmental factors such as COVID-19, the technology industry has demonstrated an amazing resiliency and continues to grow, introducing potential retention challenges for your business. Attrition within IT teams introduces business risk and slows the progress of the entire enterprise.
Understanding the mindset of technology resources, creating satisfying work environments, applying effective hiring processes, and guiding the team’s toolset and process selection to ensure the support of business objectives is maximized is a key strategic value of senior IT leadership.
Does your organization have a software product concept to develop into a business ? Are you struggling with on-time or reliable development delivery?
Vendor Selection, Contracting, and Management
Vendor relationship management is the practice of evaluating business partners, suppliers, or third-party vendors both before a business relationship is established and for the duration of your business contract. This is a critical practice to execute during the evaluation of your vendors and the procurement process and to re-evaluate as the vendor landscape and business needs change.
Your vendor relationship management program should include an agreement that outlines the relationship that will exist between your business and the vendor. Because of the increasingly interconnected nature of the flow of data, there should also be documented guidelines detailing who has access and control of sensitive information. All too often performance expectations and protocols for addressing performance shortfalls are overlooked in technology-based agreements.
A relatively new yet critical feature of vendor management is understanding your vendor’s cyber-security capabilities and privacy practices. This allows an organization to understand how well the vendor will be able to secure your business data, both from a physical and cyber perspective. As laws such as GDPR and CCPA are enacted, attention needs to be directed to vendor compliance to protect the business.
Is your organization including the proper performance clause in vendor agreements? Are you including adequate security language?
Data and Business Intelligence Development
A Business Intelligence Strategy is a Roadmap that enables businesses to measure their performance, seek out competitive advantages and truly “listen to their customers” using data mining and statistics.
Chances are your organization could benefit from greater Business Intelligence. Recently, terms such as Big Data and BI have become more than just data science buzzwords and have found their place within the foundations of successful organizations. Without real time insight into their data, businesses remain reactive, miss strategic growth opportunities, lose their competitive edge, fail to take advantage of cost savings options, and miss opportunities to create customer satisfaction. In response to this increasing need for data analytics, BI software has flooded the market. With the numerous benefits and the increasing risks of limited BI, it is easy to want to adopt a solution quickly.
Unfortunately, a “jump in fast” approach could be ineffective and costly. Investing in BI should not be taken lightly as the platforms are often expensive and it is rarely as easy as they would lead you to believe. Whether you are just starting out, looking to move beyond spreadsheets, or looking to incorporate a new BI platform into your organization, you need a Business Intelligence Strategy and Roadmap in place.