In business, as in life, there's the saying you don't know what you don't know. Regarding technology in your business, I'm sure you've already contemplated your myriad of IT support options.
Most businesses now adopt an outsourced "managed service" for all things to do with IT & Technology. Depending on the size of your business, there may even be an internal team that works closely with a managed service provider. This is very common and one of our core services.
However, depending on your service provider or the staff you employ to support and manage your IT systems, there is more than likely a knowledge gap.
Even the hottest trend of the day, like cybersecurity, which is on the lips of almost all IT people, does not cover the technology knowledge gap.
There is too much selection, and choice, and the rapid growth and innovation in technology are catching almost everyone.
Take, for example, ChatGPT - this new technology has the like of Google (the internet's #1 search engine) worried. Technology has come about that may well displace a $1.12 trillion company!
The counterargument, of course, is that when the microwave came around and promised to cook your roast chicken dinner, you'd never need a conventional oven.
We all know that technology can pose a risk, but the question in your head should be, how can technology grow and transform my business? How can I stay ahead of the competition? What strategy should I have for implementing new technologies in the business?
All great questions can be solved by using a vCIO/vCTO - a chief information officer or technology officer. The v stands for virtual, as a virtual CIO/CTO is more effective in delivering the answers and actions to these questions.
There are two main benefits of going down the virtual route. Firstly it's more cost-effective - you don't need to hire for a dedicated position, and if you are using the right managed service provider, this service may well be included in what you are already paying for.
The second benefit is that a virtual CIO or CTO has a broader knowledge pool to draw from. As opposed to working in just one business, they work with multiple companies and gain experience and insight into what works best where. Working across many industries also has the added benefit of learning from failures - this is a crucial point. The decisions you make about what technology to innovate and transform your business should be sound. Drawing from a virtual CIO/CTO will give you and your team a level of reassurance that you can't get from an internal role.
Related Article: IT Expense Considerations in a Recession
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