WHAT IS AN INTERIM CIO?
An Interim CIO is an experienced IT executive that helps an organization navigate through a period of transition or change. These executives are engaged by companies on a temporary basis for 3 - 12 months. At the end of this period the Interim CIO provides a seemless transition to the company's full-time CIO. An Interim CIO may be engaged in the following circumstances:
–During or after a merger or acquisitionto unify disparate IT groups
–Departure of the current CIO / VP of IT
–Implementation of a major IT system requiring special expertise
LET'S GET STARTED
We draw upon our network of exerienced, industry leaders to quickly find the right interim CIO for your organization. Whether you are looking to validate your strategic direction or need an interim leader, we can help.
WHY WOULD YOU NEED AN INTERIM CIO?
Companies bring on an interim CIO to fill a gap in leadership if they lost their current CIO or VP of IT. Hiring an experienced interim CIO can keep the IT organization moving without losing momentum and delaying projects. An interim CIO can also provide outside expertise that the current CIO and IT leadership lack. For example, with an imminent merger or acquisition, bringing on a interim CIO with an M&A background makes perfect sense. They can provide their expertise to successfully onboarding an acquisition or divestiture.
WHAT ARE THE RESPONSIBILITES OF ON INTERIM CIO?
The repsonsibilites of an interim CIO can vary depending on need. In the situation in which there is a leadership gap, an interim CIO can be brought on to lead the IT organization and work with executives to lead the company. In this situation, an interim CIO will help ensure that IT continues to move forward with current initiatives to support the company.
There are situtations in which the CEO sees that IT is heading in the wrong direction and needs to shift its focus to better support the company. Bringing on an interim CIO in this situation is to get a fresh perspective and new set of eyes to forge a new path for IT.
There are a number of reasons why an interim CIO is hired. Here are some of the reasons why our clients have hired an interim CIO.
– They lost their current CIO
–They let their current CIO go in order to take IT in a different direction
–They let their current CIO go because they were not performing
–They need someone with executive IT skills to help define a strategy for IT
–They need someone with executive IT skills to assist with a merger or acquisition
–They need someone with executive IT skills to lead a strategic IT initiative
–They need someone with executive IT skills to review or assess the current direction of IT
–They need someone with executive IT skills to guide and coach their CIO
HOW MUCH WILL AN INTERIM CIO COST?
THe cost for an interim CIO will vary based on need, duration, hours required and the experience. The houry rate for an interim CIO typically ranges from $175 per hour to $400 per hour on a time and materials basis. We have worked with clients in which we treat the staffing of an interim CIO as project. For example, we define a fixed fee for a specific amount of time. Based on the specific needs of our client, we can tailor a solution that best meets their needs and budget.
WHAT ARE THE BENEFITS OF AN INTERIM CIO?
Hiring an interim CIO can yield a number of benefits. Here are some of the benefits our clients have seen by bringing on an interim CIO.
–Fill the gap due to the loss of the current CIO or VP of IT
–Keeping IT moving forward with IT initiatives
–An unbiased, outside opinion and fresh perspective on the IT organization and it's direction
–Ensuring the successful delivery of a mission critical IT initiative such as digital transformation
–Defining an IT Strategy
–Assessing the IT organization and defining a future state roadmap to better align IT with the business
–Guidance and counsel to the current CIO and IT leadership
–They need someone with executive IT skills to guide and coach their CIO
–IT leadership to lead and guide a merger, acquisition or divestiture
DOES AN INTERIM CIO NEED TO BE HIRED ON A FULL TIME BASIS?
No, an interim CIO can be brought on part time or can be full time depending upon your needs. In addition, the hour requirements of an interim CIO may shift depending upon the task at hand. For example, the interim CIO may be brought on part-time, but may have a report or initiative that requires them to be nearly full-time for a period. In which case, they will perform the additional work, then cale back down to their part-time hours.
WHAT IS THE LENGHTH ON AN INTERIM CIO ASSIGNMENT?
The length of time for an interim CIO can vary depending on the need. For example, if you are looking to hire a new CIO, an interim CIO may be in place for 6 to nine months, until the search is complete.
If the company does not have the need for permanent, full-time CIO, they may use an interim or part-time CIO indefinitely. The amount of time required for an interim CIO solely depends on the need of the company and solution they are looking to solve.
HOW DO YOU HIRE AN INTERIM CIO?
Hiring an interim cio is extremely difficult for companies to do. First, they don't have a network of IT executives readily at hand to reach out to. On top of that, the availability of IT executives rapidly changes over time. Therefore, someone who is available today may not be available tomorrow. The net result is that bringing on an interim cio will take alot of time, time that the CEO and company cannot afford. That is why it is best to reach out to an IT services partner, like Full On Consulting, who has a broad network of IT executives readily at hand. This will save you time and money.
HOW DO YOU PREPARE FOR IN INTERIM CIO
In order to position your interim CIO for success, you need to first define what problems or challenges you need to solve. Work with executive leaders to understand what challenges exist with IT and what they need to solve to support the organization.
The next step is to communicate to your leadership team and the organization. Let them know that a new IT leader will be coming on board and the rationale for doing so. IT will be particlarly important to meet with the IT team as they will be directly impacted with the interim CIO. They will be questioning the impact to their job and whether they may be let go in the future.
Finally, once the interim CIO is brought on board, work with them to define a gameplan. Communicate the challenges and desired outcomes. Let the interim CIO come back with a game plan to achieve the objectives.
TAKE THE NEXT STEP
Let our team find you an interim CIO quickly. We work with you to understand your needs and present the best candidates to help your organization.
OUR INTERIM CIO SERVICE MODELS
Our strategic advisory services provide the guidance and thought leadership you need to ensure you are heading in the right direction.
Our industry-leading interim cio's are ready to step in quickly and ensure your teams are focused on delivery and supporting your organization.
If you don't quite have the need for a full-time or interim technology executive, we provide part-time and on-demand options to better support your needs.
Have a complex project that requires someone with executive IT leadership? We can help. Our IT executives are ready to deliver.
WHY FULL ON CONSULTING
Save Time & Money
Trust & Integrity
First 90 Days as CIO
CIO's have a very short runway before they are expected to transform an organization.
Thats why it is critical for the CIO to have a strategic mindset and start develping the future state plan.
We Helped Our Client Save $40M
A national food & beverage distributor and manufacturer had not invested in IT for over 12 years.
To become more competitive, they adopted a new growth strategy of 40% growth in 4 years.
There was one component that the executives and CFO did not feel was needed.
See how we demonstrated the value and risk, which ulitmately saved them $40M and their reputation with their customers.
Helping a Private Equity Firm Ensure their Multi-Million $ Investment
A leading private equity firm was looking to make a substantial investment in a tech startup company. This company developed a ground-breaking video surveillance platform that integrated video with transactional and Point of Sale (POS) Data. The firm was looking for a technology partner to ensure they were making a sound investment.