Technology debt is more than just the sunk costs of hardware, software and code. It is the inefficiencies, duplicate processes and extra work created by an outdated or out of control technology architecture. Recognizing the full scope of technology debt allows organizations to address it, and, in doing so, tip the balance from maintaining to innovating.
In response to the push and pull of innovation vs. legacy, enterprises try to address their technology debt with a short-term view. This approach is ineffective in managing debt and may actually add to it. Instead, organizations must take a step back and plan strategically across all technology platforms, processes and people.
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