Study reveals majority of IT leaders consider technical debt one of the biggest threats to innovation.
69% of global IT leaders identify technical debt as a major threat to their companies’ ability to innovate, particularly in the aftermath of the COVID-19 pandemic, according to OutSystems’ latest report “The Growing Threat of Technical Debt”.
Technical debt can be costly in the long term, especially for enterprises focused on growth who find their ability for innovation and flexibility impacted.
Based on responses from 500 IT leaders across the world and spanning multiple industries, other key findings from the OutSystems report include:
- 61% of leaders say that technical debt will drag on their company’s performance
- 64% of leaders believe that technical debt will continue to have a major impact in the future
- Businesses spend approximately 33% of their IT budget addressing technical debt – the number jumps to 41% for enterprises
- APAC organizations indicate that they have fewer problems related to outdated languages and frameworks, one of the key reasons for technical debt, than those in the Americas or Europe
Check out this infographic for more findings on tech debt.