It seems that it’s virtually impossible for IT to meet all business demands with current budgets, resources, and approaches. But the business keeps changing and IT needs to respond rapidly and innovate in order to stay relevant to the organization.
Why does IT struggle to innovate?
According to Gartner and other analyst reports:
- 80%-85% of IT budgets are spent just "Keeping the Lights On" (KTLO)
- Backlogs are compounding annually at a rate of 10%-20%
- 42% of the initial cost of an application is spent year after year to maintain it