The document discusses refactoring a legacy software application called CAM2 to address issues like increasing difficulty developing new features, bugs being reported faster than they could be fixed, and parts of the codebase being over 20 years old. The company decided to refactor by adding automated tests to detect bugs earlier, migrating to a new document persistence system, and splitting the domain code into independent components to improve testability and development. As a result, the number of new bugs reported decreased significantly and the codebase became easier to develop and maintain going forward.