Total Cost of Ownership (TCO)

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A TCO assessment ideally offers a final statement reflecting not only the cost of purchase but all aspects in the further use and maintenance of the equipment, device, or system considered.

For example, the decision to buy a television or home-theatre system may result in the following TCO analysis: the higher initial price of a high-end equipment is to be balanced by adding likely repair costs and earlier replacement to the purchase cost of the cheaper bargain brand, among other factors.

Once pass-through a cost of ownership analysis, it is quite important to understand an entrepreneur’s financial goals to arrive at a useful solution. Once opportunities for improvements are identified, the TCO process is then used to identify the alternative with the lowest total cost, based on one’s needs.

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About the Author: Nilesh Shah

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Nilesh Shah nileshshah@rancelab.com Over 10 years of experience in the field of software development, sales and marketing. He has assisted over 500 Retailers and Restaurateurs in implementing the Retail and F&B software with barcode & pos hardware for their business. He holds a designation of Director, Marketing in Rance Computer Pvt Ltd. He holds the certification from Microsoft Corporation and NIS. His current research focuses on developing and implementing intelligent retail systems that shoulders the responsibility of an entrepreneur. With such system, he is helping Retailers and Restauranteurs in focusing more on business expansion than of day-to-day complex operations. Click here to visit FusionRetail Blog. Catch me on Facebook. Follow me on Twitter

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