Total Cost of Ownership (TCO)
Definition
The complete cost of acquiring, operating, and maintaining a system over its entire lifecycle.
Overview
Total Cost of Ownership (TCO) includes all costs associated with a technology investment over its lifetime. Beyond initial purchase/implementation costs, TCO includes ongoing licensing, maintenance, support, training, infrastructure, and the cost of employee time to manage the system. TCO analysis helps organizations make informed decisions by comparing the true cost of alternatives, including build vs. buy decisions for integrations.
Why It Matters
Organizations that evaluate technology only on sticker price consistently overspend. Hidden costs in maintenance, staffing, training, and integration often double or triple the initial investment. Accurate TCO analysis prevents budget overruns and reveals the true cost of DIY approaches.
How New Odyssey Helps
New Odyssey's all-inclusive platform pricing and 6-week implementation dramatically reduce TCO compared to building custom integrations, with managed services that eliminate the hidden costs of ongoing maintenance and specialized staffing.