Forescribe Glossary
What is Total Cost of Ownership (TCO)?
Total Cost of Ownership (TCO) is the total expense of owning a software tool over its entire lifecycle, including purchase, maintenance, and operational costs.
Why it Matters
It helps businesses understand the true cost of their software investments, enabling better budgeting and long-term planning.
Benefits
- Provides a complete picture of software costs
- Helps with budget planning and forecasting
- Identifies hidden or overlooked expenses
- Supports informed financial decisions
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