The Internet of Things (IoT) is a key technological trend for the digital transformation of organizations, boosting existing information and communication technologies or the deployment of new IoT solutions to improve their business models. Decision-making IoT adoption in small and medium enterprises is a complex task led by the Chief Information Officer (CIO). The deployment of IoT solutions is affected by permanent technological change in the ICT sector. That implies high investment costs by organizations due to the acquisition of technology, maintenance of technology, training of employees for the appropriate use of each technology, and expensive contracts with the Internet of Things providers for the execution of IoT projects. This paper presents four technological variables that affect decision-making IoT adoption in small and medium enterprises based on the Technology-Organization-Environment Model (TOE). The role of the CIO in supporting the digital transformation of SMEs and the complexity of IoT adoption are highlighted.