Enterprise glossary and term center
Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.
- Enterprise terms
- Total Cost of Ownership
- What is total cost of ownership in procurement?
Total Cost of Ownership - What is total cost of ownership in procurement?
Total cost of ownership (TCO) is an analysis that places a single value on the complete life-cycle of a capital purchase. This value includes every phase of ownership: acquisition, operation, and the softer costs of change management that flows down from acquisition such as documentation and training.