Technical debt represents a real cost for organizations and should be considered while navigating treasury integration, transformation and implementation efforts. Improving a firm’s tech-debt position helps to direct technology resources toward initiatives that increase revenue. It may also be true that companies with stronger business performance are able and more willing to proactively pay down technology debt, lowering risk and securing the path for longer-term performance.
Business operations come with hidden costs— and treasury is no exception. Some sources and causes of technical debt include leveraging legacy systems that may not automate processes or meet the demands of the organization. In some cases, this occurs because of acquisitions or short-sighted decision-making to resolve an issue quickly without recognizing the long-term impact to the organization.
During this discussion, we will explore sources and causes of technical debt with a focus on awareness. We will discuss evaluation of current internal environments and processes while identifying technologies that are ineffective or inefficient. We will also highlight key partnerships with trusted advisors to help attendees navigate their journey to explore new and emerging technologies and processes that drive down technical debt in treasury workflows. Our discussion will conclude with tools and principles the audience can apply to their everyday roles as treasury professionals to help their organization navigate the technology landscapes.
- Increased long-term operational risk and cost
- Reduced ability to leverage IT resources for revenue generation
- Reduced innovation and resiliency
- Reduced ability to be positioned for growth and renewal