At the highest level, technical debt is all the time, money, and effort you need to sink into upgrading or enhancing your IT functions, as well as the loss of efficiency and opportunity these outdated systems can be actively causing you. The longer you go without replacing or redesigning your technology, the greater your technical debt becomes.
And the greater your risk becomes.
We frequently see a lot of obfuscated technical debt with holding companies and their subsidiaries, or other companies that frequently buy up and/or spin off plants or locations. Technical debt can also accrue with companies that have had vastly limited budgets over the past few years, and haven’t been able to invest in their technology. But, quite honestly, everyone’s got some level of technical debt.
I won’t get into the nitty gritty of all the ways this could cost you time, money, peace, data, or stability. These previous articles can do that for me:
3 Hidden Reasons To Replace Aging Hardware
A Quick Guide To Calculating Total Cost Of Ownership (TCO): Part 2, Time Investment
Not Upgrading Old Server Hardware Could Be Dragging You Down
You’re probably wondering how you could possibly calculate your technical debt and the risk associated with it, and I wish I had a simple equation for you there.
The hot potato keeps getting passed along, and no one knows how old it is, what it is, or if they need to mess with it. They just pass it on… until it burns them.
This is where we can help.