Instead of writing every single line of code, developers could access repeatable scripts, sometimes via drag-and-drop functionality. And more than 60% said their tech debt has increased in the last three years.īeginning in the 2000s, low-code tools, which automate certain repeatable coding tasks, promised to solve at least part of the problem. In a recent McKinsey survey, CIOs said they divert up to 20% of their budgets for new products to paying down their tech debt. Increasing complexity naturally tends to increase tech debt, which is eroding the ability of organizations to invest in net-new development. That is, the future cost of reworking code that was relatively easy to implement but that will require time-consuming and expensive changes down the road. In short, the current approach to development is expensive and hobbles your transformation efforts.Īnother problem lurks in dark corners-tech debt.

This shortage has also driven their median annual salaries above $110,000. In addition to increased demand and longer development timeframes, the world is facing a shortage of experienced developer talent. The advent of low-code tools, higher-level languages (e.g., Python), and agile methodologies have helped, but they are clearly not keeping up with the challenge. And McKinsey estimates that 33% of enterprise software projects go over schedule.ĭevelopment is slowing because developers are tasked with building applications on top of increasingly sprawling and disparate legacy systems-many created with now-obsolete programming languages. Making matters worse, it now takes developers 20% longer on average to complete an enterprise application project than it did in the 2000s. It’s becoming more clear that traditional application development simply can’t keep up with demand. The reason: custom solutions enable businesses to differentiate themselves in an increasingly competitive marketplace, from new digital products and services to the automation of critical backend processes. In the digital age, the demand for custom software is growing at a relentless pace, while enterprise applications are becoming ever more sophisticated.

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