What is a vCIO and What are the Benefits of a VCIO for my Business?

As your company grows so too does the complexity of your technology. 

In the beginning, your organization was able to survive by setting up your own computers, googling information, consulting your employees, or hiring an outside consultant for certain tasks, but there comes a point in every company where you need an expert to make long-term decisions for your company’s technology. 

This is where a Chief Information Officer (CIO) can be beneficial, but the salary and benefits of a full-time executive aren’t cheap. 

That’s why we wrote today’s article about a vCIO or a virtual Chief Information Officer, something that can not only help you experience the benefits of a CIO at a lower price tag but offer additional benefits as well. 

VCIO Meaning 

A vCIO (Virtual Chief Information Office) is a consultant, third party, or business that fulfills the duty of a CIO (Chief Information Officer) as a service.   

A virtual Chief Information Officer is responsible for a multitude of tasks, including: 

• Developing a technology roadmap 
• Formulating strategic IT goals 
• Determining your company’s IT budget 
• Reviewing and maintaining IT infrastructures 
• Vendor management 
• Recommending new technology 
• Providing recommendations for enhanced technology  
• Offering IT expertise 
• Offering IT leadership 
• Analyzing and rewriting business processes  

A vCIO also provides a competitive advantage for small to medium sized businesses as it helps support the growth and profitability of your company, while providing an executive level interface between the technology department and the rest of your business. 

What are the benefits of a vCIO? 

Predictable Budgets 

There are a variety of ways in which using a virtual CIO can help you manage your budget more efficiently. 

A good virtual Chief Information Officer will first learn your organization’s core goals and then help you obtain them by creating a technology roadmap that provides the technology you need to obtain your goals.   

A technology roadmap can help your company immensely, as it provides a way to evaluate all aspects of the technology within your company for a complete overview. A technology roadmap is designed to support your company’s short and long-term goals with a strategic plan. 

With this technology roadmap you can: 

• Increase productivity by leveraging new technology 
• Improve cybersecurity and compliance 
• Keep your technology running smoothly 
• Make your new tech initiatives more strategic 

All these points listed above allow a technology roadmap to create budgets that are accurate and predictable. 

Cost Savings 

A full–time and experienced CIO is available when needed. 

However, hiring a full–time executive comes with quite the price tag. 

According to salary.com a Chief Information Officer’s average salary is $124,199 and can range from $82,179-$149,385 before benefits. 

With a vCIO, you still have access to the advantages of a CIO but won’t have the burden of adding a high-level executive to your payroll.  

Saving money is an integral part of any business, and a vCIO can help you save money on labor costs and technology by focusing on technologies to solve your business challenges, while eliminating the need for an expensive CIO.  

Increase Revenue 

vCIO services can not only reduce the overall costs of your technology but drive revenue as well. 

This is accomplished by creating efficiencies, business process optimization, and effective IT strategies that points your organization in the right direction.  

With a vCIO you get all these benefits at a fraction of the cost of hiring a new executive. 

You also have access to the rest of the vCIO’s team of experts that can help you achieve your goals.  

Qualified Expert 

As your business grows, you might feel the need for the expertise of an experienced CIO on your management team, but you might have a hard time justifying the cost of hiring ar high-level executive. 

By using a vCIO, you’re able to tap into an expert who is an expert on current technology trends and has experienced solving technology problems just like yours. 

An experienced vCIO can also help you: 

• Map out your current technology 
• Determine what you might need in the future 
• Stay on top of IT goals 
• Remain competitive with competitors who have a CIO or vast resources 
• Make well educated technology recommendations to improve business strategies and goals 

Security 

Cybersecurity is an essential factor for any business, however, with over 43% of online attacks now aimed at small businesses and the average attack for a small business costing $200,000, cybersecurity is especially important for small businesses. 

A virtual Chief Information Officer can help mitigate these risks by managing the different security measures of your business, including: 

• Risk assessments:  
  • A risk assessment is an analysis of the potential risks in your company’s:
    • IT Infrastructure 
    • Security 
    • IT Processes 
    • IT Performance 
  • The purpose of a risk assessment is to: 
    • • Determine the status of your networks  
      • Get a complete overview of your environment 
      • Identify opportunities for improvement 
  • A risk assessment will help you make more calculated decisions for your company’s technology 
• Data protection: 
  • • A vCIO can offer data protection by providing your organization with: 
      • Secure Firewalls 
      • Secure Servers 
      • Consistent patches 
      • Additional virus protection 
• Continuous diagnostic monitoring: 
  • Fills the gaps in your network’s security with: 
    • 24/7 proactive monitoring 
    • 24/7 proactive security 
    • Consistent patches 
  • Allows attempted breaches to be spotted early 
  • Lowers the risk of being infected by outdated software 

VCIO Services 

vCIO services are a cost-effective way for your organization to experience the benefits of a CIO without having to pay an executive’s salary.  

At Spry Squared, Inc. Our virtual Chief Information Officer services provides the resources and technology expertise you need to increase the productivity and profitability of your company.   

Schedule a quick call today to learn more about how Spry Squared, Inc. can help you navigate the complexities of today’s technology.