Develop data-driven insights to build a strategy for paying downthe tech debt (reading report)

"Develop data-driven insights to build a strategy for paying down

the tech debt that stands in the way of business modernization"

by Lucero Anguiano

Companies today depend on technology and the media; however, staying ahead requires

frequent large investments, as technology advances day by day.

Some research suggests that more than half of a company's investment is spent on technology.

This expense is often impossible to carry out, which is why there is technological debt.

When a company is going to make its annual budget, it must consider the costs, expenses,

projects and in this case, always allocate funds to technology. Actually, the budget is jointly

approved by the CEO, CFO, and CIO.

In this way, consider it every year, so as not to increase the work with delayed or outdated

software, hardware, process and machinery.

It is impossible for everyone in a company to change according to technological evolution, but

trying to invest should help. Currently, technology contributes to a company becoming

competitive, obtaining greater profitability and similar things.

According to the point of view of the author of this article, most of technical fixes could be part of a vicious cycle,

where fixes that inevitably became permanent, translate into huge costs because the company

misses opportunities and wastes resources to continue with used and obsolete equipment.

Fixes were only valued in the past, now they can be the cause of technological debt.

In this framework, management must set the objectives and key results, management has the

responsibility to achieve a result too, with growth aligned with progressive advances that

represent the true cost of development.

Could anyone wonder if tech debt will be able to move quickly to seize an opportunity and grow?

In this case, the answer might be that the way is to stay over-leveraged, just as you would in

financial management. The strategies defined by the executive team are fundamental in the

technological modernization effort, in this order the strategies are the first step to develop some

of the solutions and make the work of reducing the technological debt.

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