Articles > CTO Nation Launches Cost Effective Franchise CTO Service
ATLANTA, Feb. 9, 2015 /PRNewswire-iReach/ — CTO Nation, provider of part-time Chief Technology Officer resources, has launched its Franchise CTO service line. Franchise CTO will provide significant value to franchisors and their franchisees by addressing the need for technology leadership in small businesses. Fixed fee pricing will range from $1,500 to $5,000 per month, a fraction of the cost for full-time, experienced CTOs with full salary and benefits packages.
The CTO Nation model was designed to help companies that traditionally underestimate the need for technology leadership. While most companies contract with outside professional services such as financial and legal, technology is usually left to whomever is available and marginally technical. The result? Failed projects, a revolving door of vendors, manual business processes and more. The risk? Significant liability with regard to cyber security and other business continuity issues.
Companies under $50 million in annual revenue have limited budgets for technology departments. However, they have the same technology issues and challenges as larger companies, with arguably more business risk due to their size. In addition to strategic guidance and planning, CTO Nation focuses on technical assessments, vendor management, project oversight, end user adoption, and business continuity. CTOs will also perform technical due diligence in support of M&A activity.
The franchise industry is faced with all the traditional techBANnology issues from retail and service businesses. Additionally, franchisors require specific technology to manage and support their franchisees. The Franchise CTO service line will provide management, oversight and continuity for a franchisor’s technology strategy and help communicate that strategy to the franchisees.
According to Greg Cory, CEO and founder of CTO Nation, “Adding experienced technology leadership can generate a 10-20% bottom line improvement for most businesses. Small businesses, and franchises in particular, must continue to invest in technology to stay competitive and technology needs to be represented in the C-suite and in the board room.”
About CTO Nation
CTO Nation provides a scorecard based on a technical assessment of client business objectives, current processes, installed systems, vendor performance and other details. The scorecard identifies the potential revenue impact of the current technology strategy and provides an action plan for addressing deficiencies. Currently, CTO Nation provides two service levels – Advisory Services and Management Services – which correlate to 25% and 50% time respectively. Shared services include software training on mainstream technologies, collaborative workshops to assist technology buying decisions and technology innovation research. To learn more about CTO Nation services, visit www.ctonation.com.
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