Technical Debt is something that accumulates over a period and at some point, it could render an application unviable to maintain. It is like a time bomb which if not diffused soon could cause serious customer repercussions and financial damages to an organization.
With the name ‘technical’ debt, it is often perceived that reducing technical debt is the sole responsibility of the developers. Of course, developers play a key role in refactoring code and reducing technical debt. But refactoring is not always restricted to only the code. Many other groups have to play their related roles to enable refactoring and reduction of technical debt.