According to the OutSystems report “The Growing Threat of Technical Debt”, companies spend 28% of their IT budget, on average, to pay for technical debt. If that amount was added to the innovation budget, which at 33% is almost equal to the debt budget, imagine how far ahead you can be in creating new and wonderful digital experiences for your customers.
What is technical debt?
It is very much possible that you have technical debt but don’t know it… yet. Are any of the following true about your team:- You dropped app features in order to beat a launch deadline
- You sacrificed app performance or efficiency in favor of speed
- You keep using legacy or proprietary systems that have become obsolete to avoid the inconvenience of an upgrade
How do you measure technical debt?
To pay for debt, you need to know how much you owe. You can express technical debt through the following metrics:- Resources. How many people are needed for a fix.
- Time. How much time it will take to complete the fix.
- Money. Budget for implementing the fix.
- Opportunity. An often-overlooked cost. In short, what you could be doing instead of fixing. The higher the technical debt, the more opportunities you may be missing.