Technology is becoming more and more important to businesses, how they function, and their bottom line. That means budget and the need for support is going to grow with the increase in reliance on technology to keep a business up and running. Many organizations have experienced this increase in need first-hand with the recent COVID-19 pandemic in order operate in a virtual world. But you might be asking how can companies realistically navigate and balance technology needs.
Fulfilling tech needs and roles is no big deal for larger businesses that have the budget to invest in IT expertise. For small or medium-sized businesses, the rising cost and importance of IT poses a dilemma since they don’t likely have the budget at their disposal to devote to a full-time staff to support needs. Then, owners and leaders must ask themselves: Should we go without a Chief Information Officer (CIO) and try to disperse IT responsibilities among other employees and executives? Or should we bite the bullet and spend big to hire and support a CIO and a full-time IT team within an already bursting budget?
Luckily, there are alternative resources that small and medium sized businesses can tap into for leadership or supplement assistance with handling their technology needs such as a Virtual CIO (vCIO). This person’s goal is to efficiently bridge the gap and find balance between a business’ needs and their technology needs on a flexible basis. A vCIO’s primary role is to formulate IT goals for a company, and then manage an IT strategy and budget that meets those goals.
Maybe a vCIO sounds a like a huge expense and maybe a little overkill for a smaller organization to utilize, but we have uncovered six benefits to utilizing a vCIO to handle your company’s IT needs:
MONETARY SAVINGS
According to Robert Half Technology, the average salary for an on-staff CIO is between $185,000 and $400,000. Add in the cost of benefits, vacation, training, and onboarding, hiring, and other typical employee expenses and you have a proposition that is costly for any business. By outsourcing CIO services and only contracting a virtual IT expert when you need one, you will save a considerable amount of money and have access to executive-level IT knowledge.
NEUTRAL THIRD-PARTY VIEWPOINTS
With an outsourced CIO, you get a neutral third-party viewpoint. An outsourced CIO can help you see things objectively—regarding sheer efficiency, cost savings, or security—in ways that will substantially benefit your company’s bottom line.
ACCESS TO SKILLS AND EXPERTISE
While simple IT tasks can likely be done in-house, your current IT team probably does not have the high-level experience or big-picture expertise that a C-suite IT executive would be able to bring to the table. By tapping into a vCIO, you will gain access to individuals who have the experience to handle tasks like establishing smart policies for budgeting, resourcing, security, and disaster recovery with confidence and assurance. These vital tasks will put small and mid-sized companies on the same IT playing field as major corporations.
A TEAMWORK MENTATLITY
As with any outsourced service, there is the concern whether that third-party will be able to become a fully integrated part of their business. With careful research and interviewing of candidates, it is entirely possible to find the perfect outsourced vCIO match for your business. They will take the time to learn about your business and will be driven by producing results for you. One tip is to find a third-party that specializes in your industry, much like CareServ specializes in healthcare technology. While an internal CIO learns your business inside and out and truly becomes part of the team, it is a costly expense when you can get the same quality of service, teamwork, and integration with a little due diligence.
EVOLUTION OF YOUR TECH INFRASTRUCTURE
While an internal IT team might be able to handle the day-to-day management of your current tech infrastructure, you risk the long-term development of your organization’s information technology. A CIO is equipped and knowledgeable to make those “big picture” and long-term decisions such as what to do when hardware and software become obsolete, solving security gaps, and company inefficient IT processes. This role ensures that your company is moving forward and staying ahead of these changes. Outsourcing the CIO role provides the capability to move forward without costing you more than you can afford to spend.
ALL THE IT HELP YOU NEED
A CIO is usually responsible for planning the high-level aspects of a company’s IT infrastructure, from software to security and beyond. Depending on the size of the organization, there would also be a multiple-person IT team that is responsible for more on-the-ground and day-to-day tasks, like updating software and ensuring everything is running smoothly. Many companies that require a Virtual CIO service don’t have enough technology needs to merit hiring that more “general” IT staff role. It is also possible to hire a third-party partner to handle the lower-level responsibilities including project-based work that the IT team oversees.
The goal of a vCIO and outsourced IT staff is to bridge the gap between your business needs and your technology needs. It is easy for small and medium-sized business to get left behind by the rapid evolution and growing costs of technology. CareServ can step in to help to fill any IT gaps your organization has from a vCIO position, to IT strategy, to day-to-day help. We have years of experience helping healthcare organizations stay up to date with technology standards and medical best practices. Contact CareServ with your fundamental or immediate technology issues and see how we can help fill the CIO and tech team roles missing in your company.
