Editor Introduction

Direct costs such as purchase price and maintenance are important elements in the total cost of ownership (TCO). However, there are others. Elements such as opportunity costs of lost revenue or hidden costs of energy consumption and environmental consequences can also impact the measure of TCO. Costs of training, integration, support, and scalability can also be examined. Considering the security industry impact of TCO, we asked this week’s Expert Panel Roundtable: 

How does/should total cost of ownership (TCO) impact the decision-making process when choosing technologies for security?

In the evolving landscape of security technology, decision-makers are faced with a myriad of options, from traditional surveillance systems to advanced AI-driven analytics. Total Cost of Ownership (TCO) plays a crucial role in this decision-making process. TCO includes not only the initial purchase price but also the long-term costs associated with operating and maintaining the technology. Incorporating TCO into the decision-making process is not just a financial exercise, but a strategic one. It ensures that organizations are not blindsided by hidden costs enabling them to make informed decisions that support their long-term security objectives. By thoroughly understanding and planning for the TCO, organizations can select technologies that provide the best value, enhance security effectiveness, and ensure financial sustainability.

Editor Summary

Total cost of ownership (TCO) is a familiar concept in the security marketplace, but it’s one that could be more effectively and practically applied in the real world. Our Expert Panelists point out several opportunities for customers to embrace TCO and, in the process, to get more value for their security spend.

Read the full article on securityinformed.com