Published in News

US wasted $1.56 trillion on poor software

by on18 January 2021

Not to mention failed IT projects

Not-for-profit IT leadership group the Consortium for Information and Software Security said that poor software cost the US $1.56 trillion last year.

According to the CISQ's 2020 report with the catchy title The Cost of Poor Software Quality in the US, the financial impact of software projects that went awry or otherwise ended up leaving companies with a larger bill by creating additional headaches for them.

According to the consortium, unsuccessful IT projects alone cost US companies $260 billion in 2020, while software problems in legacy systems cost businesses $520 billion and software failures in operational systems left a dent of $1.56 trillion in corporate coffers.

As a result, the total cost of poor software quality in the US amounted to approximately $2.08 trillion in 2020, CISQ said. Comparing this to the total US IT and software wage base of $1.4 trillion, the company said the figures "underscored the magnitude of the negative economic impact of poor software quality".

Last modified on 18 January 2021
Rate this item
(1 Vote)

Read more about: