So it appears that we have another threat on the horizon that few people would take into consideration, the global IT debt. According to analysts for Gartner, the global IT debt is at 500 billion dollars and will reach 1 trillion by 2015. This is an astronomically large number for such a seldom thought of maintenance and in the economy today as well as the dependence of corporations on IT, this cannot bear well for anyone.
This debt is basically the cost to keep corporate software up to date. Corporate applications are updated to keep the software at the edge of technology. Some of these applications are being prioritized as more important to update than others which is allowing many of these programs and backlog data warehouses to be dangerously out of date. This debt is the cost to update this software, and because the software companies prioritize the systems they choose to update, it is creating not only a giant debt but a problem with old software. Software companies should have a scheduled maintenance program for all of their products to help combat this problem.
Another issue at hand with this problem is that the software departments are not doing a good job of keeping up with the review process and inventory of the required maintenance, which is causing the problem and debt to grow without their knowledge. This is a very large problem. The fact that these companies cannot even keep up with their own products is alarming in that this kind of maintenance, one would think, would come standard with such a large corporate purchase. If this number keeps on being hidden and is not taken into consideration soon, there could be major consequences in the IT world for those who take these things so easily for granted.