What is TCO - Total Cost of Ownership

TCO, or Total Cost of Ownership, is a term used to refer to the total costs associated with acquiring and using a product or benefit over its lifetime. This includes not only the initial purchase price of the product or benefit, but also any ongoing costs for maintenance, repairs, and replacement parts, as well as any indirect costs such as the opportunity cost of using the product or benefit.

TCO is often used to compare the costs of different products or benefits, or to evaluate the long-term financial implications of a particular purchase. By considering the TCO, businesses and individuals can make more informed decisions about which products or benefits will be the most cost-effective in the long run.