Glossary What is Technical Debt?
By null / 1 Jan 2023 / Topics: IT optimization Application development
Technical debt is an estimated measure of the cost to replace an aging or recently adopted solution that provides limited benefits. The previous solution is often chosen due to its affordable nature and ability to deliver a fast return on investment.
Replacing the original solution becomes imperative as technical innovations emerge and organizations develop a clear understanding of their technology strategy. Technical debt can grow over time as organizations often need to adopt additional technology or provide re-occurring and manual maintenance to continue meeting defined objectives.
As time goes on, it becomes imperative to address technical debt or risk incurring more costs and hindering your organization’s capabilities. Overcoming technical debt can involve replacing multiple solutions with a single, comprehensive tool or modernizing aging systems that lack needed capabilities.
