Take a moment to picture a successful company — maybe yours, maybe a competitor’s. The business boasts state-of-the-art, beautiful apps to support the organization and to keep operations running smoothly.
In an effort to gain better insight into this problem, we surveyed more than 500 IT leaders across the globe in June 2021 and found that, on average, about one-third of IT budgets are spent addressing technical debt.
And across industries, more than two-thirds of the IT leaders surveyed agreed that technical debt poses a fundamental limit on their ability to innovate, and 64% said that it will continue to have a major influence on their strategies in the future.
A popular misconception about technical debt is that it’s less of a concern now because it began long ago in a world of legacy application development.