CIO Source chief Matt Stern has three chief information officers...

CIO Source chief Matt Stern has three chief information officers he rents out part-time and aims to hire more. (April 3, 2012) Credit: Newsday/Audrey C. Tiernan

A lot of chief executive officers would like to chop their chief information officers into bits, thinking they're costly and speak a foreign language.

But one Long Island company, The CIO Source in Commack, actually does "fractionalize" CIOs, says its founder and president, Matt Stern.

Stern, who had an information technology company in Commack, spun off the part of the business that rented out CIOs to small and midsized businesses in December 2010. His original company, Comprehensive Computer Services, still exists.

He got the idea when he noticed that the average annual salary for CIOs is about $300,000.

"We provide a CIO but on a fractionalized basis, because a lot of companies can't afford a CIO or don't need one full-time," said Stern.

One of his clients is Brookville Capital Partners, a small financial services firm in Uniondale.

"It makes sense to employ an expert to make sure we spend our money wisely," said Anthony Lodati, the firm's president. The firm makes use of a rent-a-CIO about every other month, Lodati said.

Stern said his three CIOs are usually hired on a part-time basis, to work a day or two a week, until a project is completed.

He has about a dozen clients, eight of them brought over from his original company and the remainder acquired since the new business started.

Stern said he hopes to hire more CIOs. "We're still in a rapid growth period," he said.