Panel | The Masterminds of Innovation: Unveiling the Secrets of a Great CTO

Summary

At a technical track event, Zach Stevens, CTO of Akova, moderated a panel discussing the multifaceted role of a CTO in online retail. Panelists Elizabeth Fling and Aen Voland shared insights on balancing strategic vision with operational demands, emphasizing the importance of trust, curiosity, and commercial acumen. They debated the build-vs-buy dilemma, the value of data, and the challenges of integrating third-party solutions, advocating for a nuanced approach tailored to business needs.

Takeaways

• 😀 The panel is hosted by Zach Stevens, CTO of Akova, and features a diverse set of perspectives on the role of a CTO in the retail industry.
• 👔 Zach Stevens feels like an imposter on the panel because, although he is a CTO, he has not worked on the retail side but has worked for retailers.
• 👩‍💼 Elizabeth Fling introduces herself as a partner to the CTO, usually in roles such as CPO or VP Digital, focusing on driving revenue online and partnering with CTOs.
• 👨‍💼 Aen Voland shares his journey from a developer to a CTO, highlighting his experience at Asos and his role in building an e-commerce platform from scratch.
• 🏗️ The panel discusses the misconception that the CTO role is just the most senior technical person, emphasizing the strategic and service provider aspects of the role in retail.
• 💡 The role of a CTO in retail is described as a service provider to the rest of the business, focusing on using technology to deliver products to customers and underpinning all business operations.
• 💼 Elizabeth emphasizes the importance of trust, transparency, curiosity, and commerciality in a CTO, highlighting the need for a collaborative approach to solving business problems.
• 💡 Zach stresses the importance of the CTO role in serving the business with technology, focusing on creating value and not just cutting costs.
• 🛍️ The panel discusses the balance between building versus buying technology solutions, emphasizing the need for strategic decisions based on competitive advantage and time to market.
• 🔍 Data is described as 'gold dust' by the panel, highlighting its critical role in understanding customer intent, optimizing operations, and driving business decisions.
• 🚀 The panel concludes with a discussion on the importance of maintaining a hands-on approach to data and technology, warning against over-reliance on automated dashboards and the loss of intuition that can result.

Q & A

What is the main focus of the panel discussion at the technical track of MMUK?

The main focus of the panel discussion is to explore the different perspectives and roles of a Chief Technology Officer (CTO) in the context of online retail, with a focus on how they contribute to the business beyond just being the most senior technical person.

What is Zach's background and what makes him feel like an imposter on the panel?

Zach is the CTO of Akova, a company that does cloud hosting and operations for Magento. He feels like an imposter on the panel because, although he is a CTO, he has not worked on the retail side and his experience is more in cloud services rather than retail technology.

What is Elizabeth Fling's professional background and why is she on the panel?

Elizabeth Fling has been in e-commerce and retail since 1997 and has experience in roles such as CPO or VP Digital. She is on the panel not as a CTO but as a partner to the CTO, highlighting her experience in driving online revenue and working closely with CTOs.

Can you summarize Aen Voland's journey to becoming a CTO?

Aen Voland started as a developer in marketing in Australia, moved to London and joined ASOS as their fourth developer. His love for retail was kindled at ASOS, and he held various roles within the company. In 2015, he became a CTO for the first time at an online retailer called Kidley, which he co-founded with a director from ASOS.

What misconception does Aen Voland address about the CTO role in smaller tech-focused businesses?

Aen Voland addresses the misconception that the CTO role in smaller tech-focused businesses is merely that of the most senior technical person or the most experienced developer. He emphasizes that the role can be more strategic and service-oriented, especially in retail, where technology serves the business rather than being the product itself.

What does Elizabeth Fling look for in a CTO when partnering with them?

Elizabeth Fling looks for a CTO who she can trust, as trust is the foundation for overcoming challenges together. She also values curiosity in a CTO, as it drives problem-solving and finding solutions that are cost-effective and valuable. Lastly, she seeks commerciality in a CTO, meaning a focus on profitability and making the business successful.

How does the panel view the role of technology in retail businesses?

The panel views the role of technology in retail businesses as a service provider to the rest of the business. Technology underpins everything a retail business does, and the CTO's role is to ensure that technology works well and creates value, whether through efficiency or by exploring new avenues.

What is the panel's perspective on the balance between cost-saving and value creation in the CTO role?

The panel believes that while cost-saving is important, focusing solely on it can limit the CTO's impact. They advocate for a balance where technology also drives value creation, whether through improving efficiency or enabling the business to explore new directions.

What is the panel's stance on building versus buying technology solutions for a business?

The panel suggests that the decision to build or buy should be guided by factors such as strategic fit, time to market, and the potential for a solution to provide a competitive advantage. They caution against over-reliance on large bundled solutions and advocate for a careful selection process that considers integration and vendor alignment.

How does the panel discuss the importance of data in a retail business?

The panel highlights data as a critical asset, referring to it as 'gold dust'. They emphasize the importance of understanding buyer intent through data and using it to drive merchandising, promotions, and operational improvements. They also stress the need to maintain control over proprietary data sets for ongoing learning and optimization.

What advice does the panel give regarding the management of multiple vendors and systems?

The panel advises being cautious of the complexity that can arise from managing multiple vendors and systems. They suggest ensuring that the company has the capability to integrate these systems effectively and recommend a modular approach, where systems can be easily added or replaced as needed.