Summary
This guide outlines the hidden costs associated with technology purchases that organizations may encounter throughout the lifetime of their technology investments. It begins by emphasizing that the purchase price is often only a fraction of the total cost of ownership. The guide details several key areas where additional expenses can arise, including installation costs, which may equal the purchase price depending on complexity, and training costs for staff to effectively use new technology. It also discusses ongoing support expenses, which can accumulate from hiring personnel or outsourcing technical assistance. Service calls for onsite troubleshooting can incur significant hourly fees, while add-ons for new team members and software updates represent further costs. Security measures to protect against IT threats are highlighted as essential yet potentially expensive. Finally, the guide addresses the costs associated with the retirement and proper disposal of old technology, which can exceed the costs of simply discarding equipment.
