Knowing how technology works is crucial, but it’s also important to be able to explain the business value of a particular technology to C-level colleagues who might not be technically inclined. It’s also vital to be able to see how technology fits with strategic business goals. 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 (BLS). The CTO typically reports directly to the CIO and is responsible for designing and recommending the appropriate technology solutions to support the CIO’s policies and directives, the bureau says. CTOs also work with various departments to implement the organization’s technology plans. Some CTOs are also responsible for managing research and development initiatives and overseeing intellectual property at their organizations.
They should also have great communication skills in order to articulate these ideas to staff, other C-level executives, and partners. They should additionally be able to effectively delegate tasks to a team they have helped build and that they trust will do the work accordingly. The chief technology officer (CTO) is the individual within an organization who oversees the current technology and creates relevant policy. A CTO should have the business knowledge necessary to align technology-related decisions with the organization’s goals.
Tools and Programs Chief Technology Officers Use
They ensure an organization has the technological resources to deliver top-performing products and services and meet business goals. A chief technology officer is a high-ranking executive-level position in a company, part of the senior-level, “c-suite.” So applicants may need more than 15 years of experience in the IT field before being considered for a CTO job. Despite the titles, the CTO has more of an outward-looking, strategic planning role, while the CIO has more of a technology-focused, operational role. Generally, a CIO is responsible for technologies that run the company’s internal operations and business procedures. The CTO is responsible for technologies that grow the business externally, implementing services and products that serve clients and customers. Developing, planning, and overseeing company’s technology strategy is the key role of a CTO.
In large organisations it’s common for the CTO to have little experience in, and new to working in a technical position. Since innovation and technology go hand-in-hand, it is crucial for a CTO to have a creative mindset and stay on top of the latest technology trends. That way, their organization will be equipped to facilitate operations and development. Otherwise, it will be difficult for the company to stay ahead of the competition. The companies that incorporate the best technology are oftentimes the most successful.
Innovation and R&D
Tether said on its website that it completed this requirement earlier this year. The company says its peg is maintained by Tether’s holdings of dollar-based assets, including U.S. “My greatest passion is pushing the boundaries of what’s possible with technology,” Ardoino’s profile says, listing his location as the UK. After graduating in 2008 he worked as a researcher for a military project, while experimenting “extensively” with cryptography, then began developing finance-related applications in 2010, the website says. Van der Velde said in the company statement that Ardoino was “extremely well-suited to lead Tether into this exciting new era.” Current CEO Jean-Louis van der Velde will “transition to an advisory role for Tether”, the company said in a statement.
They must be well-informed about the latest technology, be innovative, and have the leadership skills to run all technological aspects of their organization. IT is an ever-evolving field, and a CTO must enhance their basic skills to stay relevant. By accomplishing the below objectives, a chief technology officer can play a significant role in the company. That’s a sentiment that chimes with Lily Haake, head of the CIO Practice at recruiter Harvey Nash, who says CTOs would have historically been senior architects who reported into the CIO and held responsibility for infrastructure. Now, her firm sees many types of CTOs, with some running big software development teams that manage a company’s digital platforms.
CTO as Business Enabler
“It’s difficult to say what the perfect CTO looks like because it will be led by what sector you’re in, how big the organisation is and what the ultimate product or service is.” Further, a good Chief Technology Officer needs to have an innovative mindset to make beneficial changes to current technology usage among company departments, even when experiencing budget cuts or other financial constraints. This ensures that the company continues to enhance its operations through the use of technology and remains on the same level as industry competitors. The CTO represents the external face of a company, which requires them to have an open and engaged relationship with vendors, customers, investors and partners. While there are no specific certifications geared to CTOs, individuals seeking a CTO role should also pursue certifications in areas such as project management, development, programming or database administration.
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As high-ranking tech executives, they collaborate with executive leaders in various departments to ensure teams across the company are following technology strategies and standards. CTOs oversee the effectiveness of technology resources within an organization, including everything from phone systems to enterprise software platforms. Regardless of the company, the CTO role is usually where the technology vision and strategy critical to developing or enhancing a company’s products or services are developed. Although there is overlap between the two positions, since both deal with IT, CTOs generally look outward, using technology to improve the company’s customer experience—the use of the goods and services.
Chief Technical Officer Responsibilities
There are typically four different kinds of CTOs, whose main duties may differ. As technology focuses more on integrating applications, processes, and the Internet of Things, CTOs must keep abreast of big data, streaming analytics, and cloud technology to remain innovative and stay competitive. Organizations must think innovatively to compete in a highly skilled market.
You should have experience leading your teams to successful project development and delivery. To understand customers’ needs and business problems, a CTO often engage with customers business needs and communicate with them with possible solution. CTO not only keeps an eye on new technologies but also provides all necessary resources and guidance to its teams to learn and adopt new technologies. The average CTO salary in the United States is $244,907, according to Salary.com.
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His explanation of being a CTO, rather than a CIO, is that his company is a technology business. His day-to-day focus is innovating through technology on behalf of the customer, not on running operational IT systems. Chief Technology Officers typically work for corporations across industries to ensure the companies have the right technology to contribute to daily business operations. They work closely with Executives and IT personnel to remove outdated systems and replace them to maintain a competitive edge in their industry. Their job is to hire and train IT Directors or Managers to oversee the IT department and its employees.
Because companies still need an executive whose job it is to keep an eye on the technology horizon and ensure the organization stays current, relevant and, ideally, ahead of the pack. Today, as nearly every company strives to achieve digital transformation and deliver tech-driven customer experiences, the CTO has become much more of a chief strategy officer, often with the CIO as a direct report. But just when you think the matter is settled, along comes the chief digital officer (CDO) and even a chief experience officer (CXO), creating a veritable Venn diagram of tech-focused executives with overlapping spheres of influence. It seems the CTO title first gained popularity in the late 1990s, around the time the internet was exploding and the world began to grasp how technology was about to fundamentally alter our existence. Many companies designated a CTO to serve as the technology czar inside IT, charged with ensuring the organization was taking advantage of the latest developments in infrastructure, data centers and network technologies.
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Depending on the company’s size and focus, it may have some or all of these positions. In some environments, the CTO might oversee infrastructure or act as a strategic planner or customer relations liaison. While research and development have become a significant element of companies, they focus on employing chief technology officers to oversee the business’s infrastructure and intellectual property. This top technology executive role comes with great responsibility and several duties, as it is, after all, a job that requires extensive expertise and experience. Chief Technology Officers (CTOs) are the people who lead these teams since they are a high-level management role or a C-level position, who typically report directly to the CEO.
Since CTOs need knowledge of every department role, experience in several different technology positions is valuable. After completing their education, many aspiring chief technology officers begin their careers as IT specialists, software developers and other entry-level IT professionals. Those who excel in these positions can earn promotions to managerial roles and establish themselves as attractive candidates for CTO positions. A CTO is the highest tech executive at a company, so ambitious professionals may set their sights on becoming CEO or transition to a different leadership role. A chief technology officer (CTO) is responsible for overseeing the planning and development of technology for a company’s customers, vendors, and internal employees. The goal is to improve productivity and business output and reduce the cost and time.
CTO as COO of IT
The point is that the role of CTO, while a mainstay of the executive team at many sizeable companies, is different everywhere you look. Even in its most common form — chief technology officer — the title can come with powers and responsibilities that vary widely from cto team structure company to company. And however the job description is written, the key priorities of the role seem to be in constant flux. The CTO position often overlaps with other jobs, in particular, that of the chief information officer (CIO) or chief science officer.
