Wondering when to hire a chief technology officer? Given the constant development of new technology in the world today, your company needs technical expertise in order to keep up with the competition. A chief technology officer, or CTO, will help guide your company in the right direction when it comes to using technology to meet your business objectives.

But when is the right time to hire a chief technology officer? If your company has any of the following needs, then it may be time to start searching for a CTO:

  • You need new technology to get ahead: One of the ways a company can grow is by utilizing new technology. If your technical needs require more than a few advising hours per week, hiring a CTO will allow your company to better handle the technical advances it needs to stand out.
  • You need industry expertise: There are numerous technological solutions available for your company, but if you lack the industry experience, it can be difficult—if not impossible—to utilize them well. A good CTO will be well-informed about current technical developments. This gives you access to cutting-edge solutions that will enable your company to improve your product, offer better end-user experience, and gain a competitive edge.
  • Your tech teams need business expertise: Not only does a CTO have experience with technology, but he or she is also able to use technical strategies to support your overall business plan. A CTO can offer the business sense that your tech team needs in order to keep engineering and development in line with your goals.
  • Your product or service needs some stabilization: Among the CTO’s duties is quality control. Making sure that your technology offers a seamless end-user experience is key to helping your company to grow. This falls under the realm of the CTO’s expertise, so hiring one will help your product be stable and user-friendly.
  • ASAP: The CTO directs technical efforts within your company. This includes devising technical strategies, aligning them with your business strategies, hiring and directing engineers and developers, and playing a key executive role in the company. It is much easier to get your company headed in the correct direction right at the start than it is to change directions later on, so the earlier you hire a CTO to help you with your technical needs, the better.

It is important to note that in some cases, you might not need a full time CTO. For example, if your company need technical advice and coding reviews on an as-needed basis, then a technical advisor may be the right solution for you. On the other hand, when your company’s tech needs grow too large for the founders alone to manage, a CTO will allow you to keep progressing forward.

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