The Hidden Costs in Tech Development: Understanding TCO (Total Cost of Ownership)

August 13, 2024 — Welcome to the exciting world of tech development! You may have already experienced the thrill of brainstorming innovative solutions, tackled integration challenges, and implemented an insurtech product. As you expand the implementation and fine tune it, there’s a crucial concept to understand: Total Cost of Ownership (TCO).

Think of TCO as the complete financial picture of your tech project, similar to how a general manager in the National Football League (NFL) considers all the expenses associated with building a winning team. It’s not just about the initial investment in star players (think of that as the upfront development costs). Like a team needs to factor in coaching salaries, training camp expenses, workout facilities, medical staff, and ongoing player development, your TCO encompasses everything from initial development to maintenance and support.

Read the full article here: https://insnerds.com/the-hidden-costs-in-tech-development-understanding-tco-total-cost-of-ownership/

 



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