Technical debt is a hidden cost that robs your business of its ability to be nimble and make needed changes for your customers
Decision-makers, it’s high time we wake up to the real cost of technical debt. Financial debt is a burden that’s familiar to many people, but for businesses, especially retailers, that burden takes on an additional form: technical debt.
For companies building their businesses on outdated platforms, technical debt is what’s keeping them from evolving to meet the demands of today’s increasingly mobile consumer. According to a study by Accenture, 85% of executives believe that their legacy platforms are hindering their ability to move to a more digital model.
Executives and IT teams often put software migration on the backburner, choosing instead to focus on the kind of projects that result in more immediate monetary returns. Yet the longer technical debt is allowed to accrue, the costlier it becomes. Should your IT department stick with its broken platforms, just to avoid the overhaul, or is it time to pull the plug?
More of the InformationWeek post from Sara Hicks
