Thanks to a decade of shrinking IT budgets, the global IT debt will approximate $500 billion in 2010, a gap that could widen to a potential $1 trillion by 2015, said a Gartner analyst.
Corporations have a list of maintenance tasks that need to be completed to upgrade all applications to the most up-to-date versions. It includes decommissioning older hardware and updating everyone to the most recent version of a software package. IT debt refers to the cost of clearing out this backlog.
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