Refactoring is a process that relies on improving the code without changing its functionality. The main goal of refactoring is to maintain high quality source code, scripts and other structures created and used by the team during the software development process.
The effects of refactoring are visible in the upcoming development stage. The proccess' costs are compensated by a shorter time to market and lower development costs in the future software development. Every responsible and wise development team tires to make their base code as high quality as possible. Refactoring is a daily routine.
Skipping the code refactoring may lead to the technical debt and higher maintenance costs for the organization.