HBesides financial debts, businesses also suffer from the woes of technical debts. Like their commercial counterparts, these debts have to be checked and controlled before they spiral into bigger issues for the company. Now, for those new to the business, identifying technical debt is often overlooked. The common approach and attitude of a new business owner are to sweep the debt under the carpet with the anticipation that all will be well in the near future. However, this never works at all- in fact, it becomes dangerous for a company to ignore technical debt and this post will tell you the reason why!
For newbies, it is important for you to know what technical debt mean and how can it negatively impact the company. Technical debt might sound like a term in a financial magazine, and experts in the field say that you are not wrong- it is pretty close. This debt refers to the delays in a technical project due to short deadlines and budget. If you have an IT team with the responsibility to deliver a technical project within a specified date, they may quickly deliver you the end product with not so perfect code. Here, your team undertakes a technical debt for the completion of the project. So, here the technical debt is not the same as a business loan that a company incurs to buy new equipment woo a big client or expand the existing business setting.
In short, it is referred to as a trade-off between the short- term advantages of fast delivery and value in the long-term. Experts in the field of business development and progress say, technical debt is nothing different from a financial debt when it comes to the progress of the company — creating a messy code for a software program so that it can be incorporated sooner into the system costs dear for the company in the long run. In the future, the speedy code will accumulate heavy interest that needs to be paid off by the business in the long run.
Sometimes technical debt might be good for the business
However, experts in the field of business growth and development maintain that not all technical debt is bad for your company. If you need to incur some technical debt to achieve a bigger goal, it worth paying for the interest over making future software updates or adding fresh features for the code in the future. Most businesses embrace methods of software development that enable companies to quickly deliver a product and make huge profits out of it. These are just some stories where business owners have got lucky. Here the risks of incurring technical debt are worth it. However, there are issues that arise, and they might seem like small problems that if left ignored become major issues that plague the company for long.
Technical debt like financial debts should be left uncontrolled. Esteemed name in the field of business debt settlement and consolidation, Liberty Lending, says that you should frequently analyze technical debt just like business debt so that it does not hamper your business operations at all. The following are some ways via technical debt, if uncontrolled, can hamper the prospects of your business-
Decreases the progress of the work
The biggest issue with technical debt is it reduces the progress of the project. This is where the debt tends to spiral, and the IT team of the software project spend most of their time paying off the interests that had been incurred on the debt. Business owners should note that technical debt must be repaid if not now but later. This debt needs to be arrested, and it can be done with the addition of new features and updates so that the program can progress further. If these features are not added than the progress of the software program comes to a halt and even becomes stagnant for the company. Here, the development team spends weeks and months trying to untangle the mess of these dirty codes that do not work for the company anymore. The costs are dear, and the business suffers.
The code has been designed poorly
Again, for meeting quick deadlines, designing a poor code costs the company or the business dear. Experts say that businesses should not resort to writing code that is messy and dirty to make a software program run. This is not an excuse to use the organized and clean code for a software program to function effectively. If the code is not managed properly, it will be dirty and have a very low rate of readability.
The development team of experts should note that the style of code should only be used once and it is not prudent to repeat the same behavior through the whole software program. The team should not leave out the descriptive names for each of the modules. Last but not least, the IT team should not string the code modules loosely.
Note that in order to get the project completed within deadlines, the above techniques are generally resorted to. This makes it challenging for developer and programmers to work on the project later in the future. If the technical debt has very poor design, there is a backlog of items that need to be resorted to for cleaning up software code.
In conclusion, you should note that rolling out a code that is not perfect might prove to be a boon for your business; however, you do have to pay dearly for its consequences in the future. Businesses should understand that after the release of the software programs, bugs and crashes might affect it. This will cause serious challenges, and the technical debt spirals way out of control. The IT team and product managers should always be aware of software code errors and rectify them in the bud so that they later do not go out of control and bring down the growth of your business with heavy interest woes!