Total Cost of Ownership (TCO) is a significant factor in choosing an Enterprise Resource Planning solution. But it's another one of those TLA's (Three Letter Acronyms) that not everyone seems to completely understand.
So what do I mean by TCO? It's the sum of all the costs associated with implementing a major software application. You should factor in not only the cost of the software (if you're purchasing a commercial license), but also any additional costs which may follow as a result of your decision (whether you know it or not). Carefully reviewing the details of an ERP purchase may uncover “hidden costs” in acquiring and operating software that might otherwise not be apparent.
Here are some things to consider... Read more »