What is TCO?

/ By / Accounting Software Research, ERP Software Implementation Tips, ERP Software Information
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Welcome back to our TLA series.  TLA stands for Three Letter Acronyms, and this is our effort to help explain what they mean.  Today we are covering TCO.

TCO stands for total cost of ownership and it represents analyzing the cost of a solution beyond the initial purchase price and installation. We do this because most systems today have an ongoing cost: annual maintenance, ongoing support, periodic upgrades. So for a company to make a good decision they want to analyze not just the initial purchase price and installation but also the total cost of ownership over three or five years.

If you have any additional questions, drop us a note or give us a call at (859) 252-6225. Thanks for watching.

You can find more TLA videos here. Follow me on Twitter @johnstucky

by TrinSoft, LLC a Microsoft Dynamics ERP Partner in Kentucky

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