Every industry in this time and age requires information technology to be able run smoothly and effectively. Due to this factor there is an increasing demand for experts in the field of IT. Technological aids are being used to teach in schools, hospitals are using advanced medical technology and also government institution needs to share and store data in large volumes. These are just a few of the many instances of the role of technology in most organizations.
Information Technology (IT) debt is basically the cost of maintenance needed to bring all applications up to date.
Regardless of size and industry, every enterprise is dependent upon information technology, and must have a strategy for how to employ it, especially as the internet becomes more pervasive. Information technology strategy is an enabler of business strategy. Not only must an enterprise manage relationships with its constituencies, but it must be able to connect with them electronically through data arteries – information supply, value, and demand chains. The information supply and demand chains are external; the information value chains are internal.