Do CTOs have the financial savvy to lead on technology budgets?
Chief Information Technology Officer in Finance (non-banking), 51 - 200 employees
As with every rule, there are exceptions, but the overall rule is yes, or they would not be in that position otherwise.Co-Founder and Director in Software, 2 - 10 employees
To make the best strategic decisions about technology and its value to the business, I believe it is essential for the role to have financial savvies, business acumen, and technology understanding of the current state and future trends. Earlier CIO in Manufacturing, Self-employed
Being financially savvy is nothing but are you getting more than what you have invested. Based on past situations of how start ups have been able to get back cash more than what they invested, looks like CTOs do indeed are financially savvy. Having said this, CTOs need to learn about being profitable within a short period, present value of future cash flows, adding value to business. Having learnt technology, CTOs can learn this part to. After all, it is not rocket science but application of common senseCEO in Software, 11 - 50 employees
It might depend on how you're utilized a CTO. 1. Company evangelist
2. Pathfinder for the internal use of technology
3. Leading technical strategy for the company's own products
Response to above options:
1. Budgeting is helpful, not a must
2. Definitely needs to be able to translate technology trends and the associated adoption strategy with business impact from a financial standpoint
3. Yes, in cooperation with others
Chief Techical Officer in Software, 11 - 50 employees
As mentioned, depends on the CTO's role, but generally, got to understand the financial impacts of any decision they make, so absolutely.Inventor, Wearables Pioneer, Product Designer and Manager, Thought Leadership in Software, 2 - 10 employees
They absolutely can. It depends on where the CTO is in their career. A very young CTO-founder in a brand new startup with no prior experience may have difficulty, but a seasoned executive in the latter portion of their career should certainly have plenty of experience managing budgets, and will be fine to lead on this.CTO in Education, 51 - 200 employees
Depends very much on the organization and on the CTO (and on how the CTO role is defined in a given organization. Many seem to use the titles CTO and CIO interchangeably. I think it is necessary for a CTO to have the "financial savvy" to lead and manage budgets. Whether it is the best use of their time to LEAD that process is a whole other question.
CTO in Healthcare and Biotech, 11 - 50 employees
It depends of the CTO and the tools/processes to their disposition.Content you might like
CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.CIO in Education, 1,001 - 5,000 employees
We've basically had to absorb the cost and figure out how to defer other less important initiatives.Department executives17%
Department managers50%
Business analysts19%
Frontline associates7%
CxOs (CIO, CTO, CEO, etc.)8%
Other0%
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Director of IT in Healthcare and Biotech, 501 - 1,000 employees
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Lack of in-house skills to migrate / deploy / manage workloads on cloud51%
Security / governance compliance concerns17%
Lack of performance or features that you have on-prem but not the cloud4%
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