Navigating the iceberg of tech debt: 84% businesses stalled, yet resilient in transformation

by | Oct 18, 2023 | News, Technology

In a world where business transformation is no longer optional but a crucial survival strategy, organizations are harnessing the power of to navigate the murky waters of change. Yet, there are challenges that need addressing.

The Unseen Iceberg: Tech Debt

Tech debt has emerged as a significant impediment to business transformation. A recent study found that 84% of global businesses are grappling with high tech debt, stalling their transformation efforts. “Tech debt is a silent killer. It's like an iceberg, 90% of it is beneath the surface, unseen but lethal”, an industry expert was quoted saying.

How Are Businesses Reacting?

  • Investing in Tailored Solutions:
  • Automating Sales: Kiwi agri-businesses are turning to SugarCRM for sales automation, contributing to a smoother transformation process.
  • Adopting Zero Trust: With the promotion of tech leaders like Ben Verghese to CTO positions at firms such as Illumio, the adoption of Zero Trust Segmentation is on the rise, indicating a shift towards a more secure digital environment.

The Role of Leadership

Leadership plays a vital role in driving transformation. The CTO of THG, a leading e-commerce company, emphasized, “You can have all the cloud tech stack in the world, but without the right leadership, it's like having a Ferrari without a driver”.

So, how does this all connect?

It's simple. You need the right , the right leadership, and a strategic approach to tackle tech debt. Yes, you'll encounter challenges, but remember, transformation isn't a destination, it's a journey. And as you embark on this journey, remember to review, reassess, and re-strategize regularly.

Wrapping it Up

Transformation is not just about adopting new technology. It's about shedding old skin, embracing change, and having the courage to navigate uncharted territories.

As organizations around the globe continue their transformation journeys, the significance of leadership, tailored tech solutions, and effective strategies to tackle tech debt cannot be overstated.

Ultimately, it's not about the size of the tech debt or the scale of the transformation. It's about the resilience and agility to adapt and evolve—a true testament to any organization's survival in this ever-changing business landscape.

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