A CTO is a technical person who is responsible for all decision making, planning, and adoption of technology in a company. In large corporations, VP, Engineering and Director, https://globalcloudteam.com/ Technology may report to a CTO. Since CTOs need to possess knowledge of every department role, experience in several different technology positions is valuable.
In order to do this, CTOs need to adopt many different personas within an organization—to the business, you’re the tech guy, and to the technology team, you’re the business guy. This gives the CTO a high level of freedom to operate, but it can also be a lonely place. A CTO focuses on product and strategy, according to Mead, whereas a CIO may be more focused on day-to-day operations. This means the CTO’s focus is not on day-to-day tech issues, but rather the bigger picture. According to the Bureau of Labor Statistics, there are approximately 482,000 computer and information systems managers in the U.S. At the same time, their role is different from the chief executive.
Depending on the size and focus of the company, the CTO position can overlap and interact with other senior tech roles, including the CIO , or CDO . Nowadays, the CTO has become more focused on strategy, roles of a cto as every company attempts to achieve digital transformation. Michael joined Phaxis predecessor Park Hudson in 2021 as Chief Financial Officer from Hollister Staffing, where he held the same role.
- When an organization has both a CIO and CTO, the CTO usually has more technical know-how and expertise, according to the US Bureau of Labor Statistics .
- Individuals may need five to 10 years of experience in IT, according to Indeed.
- CTOs may also handle customer experience, support, engagement and front-end content delivery.
- CTOs on average earn a salary of $163,309 per year, according to PayScale, a firm that provides a compensation platform to calculate compensation rates.
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A company’s technological and scientific needs must be understood and implemented by a chief technology officer to support the achievement of business objectives. On a typical day, a Chief Technology Officer starts by reviewing their email and voicemail to check for any missed messages from executives, company stakeholders or managers. They meet with executives to discuss the company’s current financial stability, business opportunities and other news. They also meet with operations personnel and IT Managers to strategize ways to implement new technology systems throughout the company. CTOs need at least a bachelor’s degree in computer science, information systems or a related field. In some cases, a degree in business administration or management is valuable.
Lethabo Motsoaledi, cofounder and CTO at Voyc
For those suppliers that provide you with software or software that you use you need to understand their road map and their development processes and their reliability. That said, it’s virtually impossible to stop a breach because of the movement of technology, and also that a lot of breaches are done through social engineering. Ten years ago, cyber security was some way down the list of CTO priorities, but increasingly today it’s amongst the most prominent. It’s wrong to categorize any CEO as typical because they are by their nature supremely individual, but you’ll often find that they are very creative, and visionary but often unrealistic. We’re not talking Steve Jobs here but most CEOs will want things done yesterday and will probably not have a strong technology background. You also need to create and stick to some space for yourself and for thinking time.
Yes, technology teams need a certain level of tech know-how, but more than ever, attitude is taking over from aptitude. This means casting the net wide and considering those from nontech backgrounds and skilling them up if you think that they have the right characteristics to suit the culture and flourish. Consider the company’s direction, its overall goals and how technology factors into key business decisions. The continued growth of business conducted over information systems is the main cause of employment growth in this role. Rapid advancements in business solutions and growth in mobile device usage and cloud computing usage have also contributed to the expected increase in job openings.
Technical Executive Job Descriptions
They are responsible for managing the technology team and ensuring that the technology roadmap is aligned with the business strategy. Designing and implementing processes that help ensure the business runs smoothly; Leading or participating in the development of new technologies or technology improvements. They are to make decisions about how to best use resources in an organization, and also ensure that projects are completed on time and within budget constraints. The role of a CTO is rapidly evolving due to the ever-changing landscape of technology. CTOs must be able to adapt and change their strategies quickly to keep up with the latest trends. They must also be able to work with a variety of different teams and stakeholders, as well as have a strong understanding of business.
However, as technology continued to advance, there was a growing need to separate the CIO job into two roles to ensure a company’s success. A chief technology officer is the executive in charge of an organization’s technological needs as well as its research and development (R&D). Also known as a chief technical officer, this individual examines the short- and long-term needs of an organization and utilizes capital to make investments designed to help the organization reach its objectives. The CTO usually reports directly to a company’s chief information officer , but may also report to the chief executive officer of the firm. In midsize to large companies with higher executive budgets, the C-level may include a CIO and a CTO. Both positions focus on the engineering, implementation, development and management of technology.
In many ways, the rise of these new C-suite positions has heaped more pressure on the CIO than the CTO. As the importance of technology within the business has risen, so has the demand for knowledgeable technologists. So much so, in fact, that some businesses – including established enterprises – have opted to rely more on a CTO than a CIO.
A CTO may also help with onboarding new engineers, such as writing training programs for them, having occasional interpersonal talks to them, or simply help them cope with engineering challenges. As has been written, CTO roles and responsibilities are not definable in a couple of lines. The CTO is always staying alert to new trends in technology and remains the lead product architect and system administrator. As the role of a CTO changes according to the stage of that company’s life-cycle, we’ll briefly detail how a CTOs responsibilities may change. Strategy – An effective CTO can usually draw on experience and foresee a path to success through devising a digital strategy.
The role of CTO
A top CTO should understand the product life-cycle and how to build new products and maintain existing ones. Typically, the role of a CTO will depend on the company itself, including positions they have covered and what their industry demands. We’ve put together a customizable list that you can use for a CTO job description.