A CIO is someone who is put in charge of your IT strategy, budget planning, process improvement, and technology implementation. They are experts in IT, and it’s their job to ensure your IT environment is actively supporting your company. They are a crucial element of a larger business strategy.
However, hiring an in-house CIO isn’t cheap, and some organizations may not have it in their budget to hire someone full-time. In fact, the average salary for a CIO in 2020 was about $283,504, according to Salary.com. So, how does an enterprise optimize their IT infrastructure without the help of a CIO? In this scenario, a business can choose to use virtual CIO services instead.
A vCIO is a dedicated resource that serves as a chief information officer. Also known as a fractional CIO, these consultants perform all the duties of a traditional CIO. The main difference between these two solutions is a vCIO works on an on-demand basis, meaning you only pay for their services when you need them. As a result, you can improve your IT infrastructure for a fraction of the price it would cost you to have a full-time CIO.