A chief technology officer (CTO) is the highest technology executive position within a company and leads the technology or engineering department. They develop policies and procedures and use technology to enhance products and services that focus on external customers. The CTO also develops strategies to increase revenue and performs a cost-benefit analysis and return-on-investment analysis.
CTO Responsibilities:
- Setting a vision for how technology will be used in the company.
- Ensuring that technological resources meet the company’s short and long-term needs.
- Outline the goals for research and development.
- Creating timelines for the development and deployment of all technological services.
- Making executive decisions on behalf of the company’s technological requirements.
- Acting as a mentor to team members.
- Maintaining a consumer-focused outlook and aiding in the delivery of IT projects to market.
- Managing technology budgets and time frames.
- Staying on top of technology trends and developments.
- Ensuring all technology practices adhere to regulatory standards.