Articles | December 28, 2020

What is a Virtual CIO? And Might You Need One?

A virtual CIO (vCIO) is a person, or team of people from one company, who serves as a Chief Information Officer (CIO) as and when needed.

Your vCIO will help set strategic IT goals and then manage your IT strategy and budget. 

From small companies to multiemployer fund offices, a range of organizations are turning to vCIOs as a way to nimbly manage IT resources and keep current with an everchanging landscape. 

Benefits of a virtual CIO

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What virtual CIO services usually include

You'll work with your vCIO to determine how often, and for how long, you want to engage their services every quarter. 

Over that period their services include will usually include: 

  1. Helping set strategic priorities and key initiatives for IT
  2. Identify return on investment (ROI) for software and systems purchases
  3. Considering new IT processes 
  4. Making sure your compliant in areas like cybersecurity and personal data storage
  5. Evaluating your team's skills
  6. Maintaining relationships within any other IT vendors you may need to use. 

Depending on the arrangement, they may also manage IT, technology and software for you day to day. 

This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.

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