Relying on legacy technologies can create business risk and stifle revenue growth. Information technology leaders must highlight the opportunities that will emerge from addressing technology debt.
In the fight against inflationary economic headwinds, enterprises need innovation and growth more than ever. However, technology debt often creates unnecessary costs and risk, holding businesses back from optimization and opportunities to grow revenue.
Technical debt is built when a legacy asset is used beyond its valuable life. This introduces the risk of business functions failing when the technology eventually fails. Continually reinvesting in technology and refreshing with newer innovation protects the organization from costly downtime.
The topic of technical debt is often marginalized against what are deemed more valuable concerns of highly competitive organizations. Many organizations struggle to illustrate the cost of a technology failure or breach. Yet if processes go down, data could be lost or orders missed, affecting the organization’s bottom line.
If every business today is a digital business, then the “digital” must be considered with the same level of…
