Breaking free: how reducing technical debt creates innovation and growth

Within eCommerce, small to mid-size businesses (SMBs) in sectors like retail, wholesale, manufacturing, and healthcare face a unique set of challenges. These businesses are constantly striving to increase sales revenue, enhance customer experiences, expand their market reach, and optimize efficiency. Amid these goals, a hidden obstacle often impedes progress—technical debt. By addressing technical debt, you can leverage the latest technologies to build a high-converting website, streamline operations, and drive sustainable growth.

Understanding technical debt

Technical debt refers to the cost of additional rework caused by choosing an easy solution now instead of using a better approach that would take longer. It accumulates over time, much like financial debt, and can become a significant burden if not addressed promptly.

Implications of technical debt

Strategies for solving technical debt

To break free from the constraints of technical debt, businesses must adopt a proactive and strategic approach. Here are some key strategies to address and reduce technical debt:

1. Conduct a technical audit

Start by assessing the current state of your technology stack. Identify outdated systems, redundant processes, and areas where technical debt is most prevalent.

Key actions:

• Inventory assessment: Document all software, hardware, and systems currently in use.
• Performance review: Evaluate the performance and reliability of each component.
• Identify pain points: Pinpoint areas where technical debt is causing the most issues, such as slow loading times, frequent errors, or integration problems.

2. Prioritize and plan

Not all technical debt needs to be addressed immediately. Prioritize based on impact and risk, and develop a strategic plan to tackle the most critical issues first.

Key actions:

• Risk assessment: Determine the risk associated with each piece of technical debt, considering factors like security vulnerabilities and business impact.
• Cost-benefit analysis: Evaluate the cost of addressing each issue versus the potential benefits.
• Roadmap development: Create a phased roadmap that outlines when and how each item will be addressed.

3. Modernize your technology stack

Invest in modern, scalable technologies that can grow with your business. This includes updating software, adopting cloud solutions, and leveraging automation tools.

Key actions:

• Software upgrades: Replace outdated software with the latest versions or more robust alternatives.
• Cloud migration: Move to cloud-based solutions to enhance scalability, flexibility, and reliability.
• Automation: Implement automation tools to streamline repetitive tasks and improve operational efficiency.

4. Strengthen security

Address security-related technical debt to protect your systems and data. This includes updating security protocols, implementing authentication, and conducting regular security audits.

Key actions:

• Security updates: Ensure all systems are up-to-date with the latest security patches.
• Authentication: Implement strong authentication mechanisms, such as multi-factor authentication (MFA).
• Regular audits: Conduct regular security audits to identify and address vulnerabilities.

Benefits of reducing technical debt

Reducing technical debt offers numerous benefits that can drive your business towards greater efficiency, innovation, and growth.

Enhanced efficiency and productivity
By eliminating outdated systems and streamlining workflows, your team can work more efficiently, focusing on high-value activities that drive growth.

Safe and secure CRM systems and website
Modernized systems are more secure, reducing the risk of data breaches and ensuring compliance with industry regulations.

Improved data visibility
Modern tools and integrations provide better data visibility, empowering decision-makers with real-time insights to make informed business decisions.

Build brand loyalty and increase customer retention
A seamless, enjoyable, and personalized user experience fosters customer loyalty and encourages repeat purchases, driving long-term growth.

Increased sales performance and revenue growth
With a high-performing, secure, and user-friendly platform, you can attract more customers, increase average order value, and improve conversion rates, leading to higher sales and revenue.

Reduced cost and complexity
Modern, scalable solutions reduce the complexity and cost of maintenance, freeing up resources to invest in innovation and growth.

Mitigated risk
Addressing technical debt reduces the risk of system failures, security breaches, and compliance issues, ensuring business continuity and stability.

Case study: Environmental Lights streamlines sales operations

TechNWeb helped Environmental Lights integrate its Magento eCommerce platform with Salesforce CRM. Without the integration, the company was considering abandoning Salesforce entirely. Instead, the team saved hundreds of hours each week, moving away from duplicated and manual data entry and toward automations and centralized reporting that helped them leverage sales insights. 

Read the case study here.

Partner with TechNWeb

Technical debt can significantly hinder your business’s ability to innovate and grow. By addressing and reducing technical debt, you can leverage the latest technologies to support your business goals.

At TechNWeb, we specialize in helping businesses tackle technical debt and optimize their technology. Our solutions are designed to reduce operational overhead, enhance collaboration, and drive innovation. Our services can provide support in areas such as technical audits, security enhancements, data migration, and platform integrations. Read more about our professional services.

Ready to reduce your technical debt and unlock your business’s full potential? Schedule a complimentary consultation call with our experts today.