The term Total Cost of Ownership (TCO) describes the full costs of a product, system or service over its entire life cycle - over and above the purchase price alone. This also includes all indirect and ongoing costs such as operation and maintenance, support, training, energy consumption and dismantling or disposal. TCO is a business management tool for evaluating the actual profitability of investments and is often used in the IT, infrastructure, logistics and production environment. The aim is to enable well-founded purchasing or migration decisions that take into account not only short-term costs but also long-term effects. A careful TCO calculation can help to minimise hidden Costs and make better strategic decisions.
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