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Global ’IT Debt’ to be $500 billion in 2010

Global ’IT Debt’ to be $500 billion in 2010

24 September 2010 12:36 (UTC +04:00)

Baku - APA-Economics. Global IT debt will total approximately $500 billion in 2010, with the potential to rise to $1 trillion by 2015, according to Gartner, Inc after a decade of tight budgets, the scale of the maintenance backlog has created a systemic risk, particularly for large organizations, Times of India reported.

Gartner defines IT debt as the cost of clearing the backlog of maintenance that would be required to bring the corporate applications portfolio to a fully supported current release state.

Gartner analysts said one way to characterize this backlog of deferred liability is to see it as a debt incurred in previous years that will need to be paid off at some time. This "IT debt" is a hidden risk for many organizations, and given continued tight economic conditions, this IT debt is growing, and the associated business risk is growing.

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